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Glossary N-Z

The following is made available solely as a reference document and is not intended to encourage or sanction the use of any specific acronyms or abbreviations. Except as noted, the acronyms in this document are pronounced letter by letter.



NA not available or not applicable

NAHASDA Native American Housing Affordability and Self-Determination Act

NAHB National Association of Home Builders

NAHIM National Association of Housing Information Managers (pronounced nay-him)

NAHRO National Association of Housing & Redevelopment Officials (pronounced nah-row): A national housing lobbying organization of which AHFC is a member

NAIHC National American Indian Housing Council

NANA NANA Regional Corporation Inc (pronounced nan-uh): One of 13 regional corporations created under the Alaska Native Claims Settlement Act

NASEO National Association of State Energy Officials (pronounced nah-seo)

NCSHA National Council of State Housing Agencies: A national organization of housing agencies of which AHFC is a member (formerly Council of State Housing Agencies and still often referred to as "CASHA")

NEA National Education Association: The Alaska affiliate of this teachers organization is National Education Association-Alaska

NOFA Notice of Fund Availability (pronounced no-fuh): Notices received from HUD or other federal sources or issued by AHFC giving deadlines and application details of special funds available

NPRHA North Pacific Rim Housing Authority (based in Anchorage): One of the 14 Indian (regional) housing authorities in Alaska

NWIHA Northwest Inupiat Housing Authority (based in Kotzebue): One of the 14 Indian (regional) housing authorities in Alaska


OMB Office of Management and Budget: A state division of the Office of the Governor

OMBE Office of Minority Business Enterprise

ONAP Office of Native American Programs (HUD)

OOPS Out-of-Pocket Builders Program (pronounced oops): Provides rebates to consumers who build energy-efficient (5 Star or 5 Star Plus homes) without obtaining a mortgage loan

OPAG Older Persons Action Group (pronounced oh-pag)

ORP Owner-Occupied Rehabilitation Program (pronounced orp): A grant program developed through home funds which provides for rehabilitation work on low-income homes

OSHA Occupational Safety & Health Administration (pronounced oh-sha): A federal agency that monitors safety in the workplace

Overcollateralization The amount of excess assets required to be pledged to a bond transaction

Owner/Builder - A borrower who owns a lot and builds his/her own home on the lot, either by performing the work themselves or by acting as the general contractor. The borrower retains title to the property throughout construction

Owner occupied - A property is considered "owner occupied" if it becomes the borrower's primary residence within 60 days of loan closing, and the borrower continues to occupy it for one year


P & I principal and interest

PASS Plan for Achieving Self-Sufficiency, a division of Vocational Rehabilitation

PCI Private Credit Insurance: A private insurance used for mobile home loans

PERS Public Employees Retirement System (pronounced purrs): The State of Alaska's defined benefit retirement plan, contributed to by both the employee and the employer

PFD Permanent Fund Dividend: An annual check issued to permanent residents of Alaska

PHA Public Housing Authority (also known as public housing agency): The Public Housing Division of AHFC serves as the only public housing authority in Alaska (see also IHAs)

PHADA Public Housing Authorities Directors Association (pronounced fah-da): A national organization of PHA directors of which AHFC's PHD Director is a member

PHD The Public Housing Division of AHFC

PHDEP Public Housing Drug Elimination Program (pronounced fee-dep): A HUD grant program under which AHFC operates public housing drug elimination programs in Anchorage and Juneau

PHMAP Public Housing Management Assessment Program (pronounced fee-map): HUD's annual assessment of AHFC The PHD is ranked on 11 criteria, including vacancies, modernization, uncollected rents, unit turnaround, outstanding work orders, tenants accounts receivable and operating reserves AHFC is considered a high performer, having received a score of 100 percent for FY96 and FY97

PILOT Payment in Lieu of Taxes (pronounced pi-lut): Annual payment by AHFC as a tax-exempt property owner to a taxing authority based on the number of public housing units owned by AHFC and a formula prepared by the state by location, presumably commensurate with the cost of public services provided

PITA principal, interest, taxes and insurance: the components of most mortgage payments

PM Personnel Memorandum

PMI private mortgage insurance

PNA physical needs assessment: HUD form used to detail modernization needs for each public housing site

POM Public Opinion Message: A message to a legislator to express opinion on a bill or other matter

Pool Insurance Mortgage insurance coverage on specific pools of mortgage loans. The policy usually provides for coverage of accrued interest and repair expenses plus any loss incurred on resale of the property not covered by primary insurance. Most pool insurance is based on a maximum coverage of 15 percent or 20 percent of the original outstanding principal balance for the loan pool and remains available until the policy is depleted or the debt to which the pool of loans were pledged is fully repaid

PPD Planning & Program Development Department: The AHFC department which applies for and administers grants, oversees the Low-Income Housing Tax Credit Program, produces the "Housing Market Indicators," and coordinates and prepares the HCD Plan

PR Procurement Office: The section under AHFC's Administration Department that handles all contracts and purchases of goods and services (also see below)

PR Purchase Requisition: A form completed by a department and submitted to procurement to procure goods or services (also see above)

prefab Prefabricated: housing in which structural and/or mechanical components are assembled offsite

Primary Insurance Private mortgage insurance (PMI) usually representing a policy which provides coverage equal to 20% to 25% of the loan Insurance is written on a loan-by-loan basis

Private mortgage insurance or PMI - Insurance that protects the investor in the event the borrower defaults on the mortgage loan PMI is required on all loans (except rural) when the down payment is less than 20% On Rural loans PMI is only required when the down payment is less than 10%

Primary or principal residence - A property in which an individual has an ownership interest and one that the individual occupies for more than six months of the year The residence is convenient to his/her place of employment and is considered his/her address of record after loan closing

PUD Planned Unit Development: A comprehensive development plan for large land areas It usually includes residences; roads; schools; recreational facilities; and commercial, office and industrial areas A subdivision having lots or areas owned in common and reserved for the use of some or all of the owners of the separately owned lots

PVE Petroleum Violation Escrow Funds


RAPIDS Rural Alaska Project Identification and Delivery System (pronounced ra-pids): A database of rural capital improvement projects and needs in 221 rural Alaska communities, published semi-annually by DCRA

RD - Rural Development is a branch of the US Department of Agriculture Rural Division RD provides provides mortgage insurance, or direct or leveraged financing for eligible borrowers

Recapture - Loans made under the Tax-Exempt Program may be subject to a potential repayment or recapture to the federal government if the borrower sells the property within the first nine years of ownership More information about recapture

Recipient The borrower who receives a loan from the Sponsor's Loan Fund under AHFC's Loans to Sponsors Program

rehab rehabilitation: The restoration to good condition of deteriorated structures, neighborhoods, and public facilities through repair, renovation, conversion, expansion, remodeling, or reconstruction

Refinance Program The Refinance Program allows applicants to obtain new financing secured by property that is currently financed by AHFC or certain loans previously financed by Department of Community Regional Affairs (DCRA) or Housing Assistance Department (HAD) These loans may be conventional, or VA- or FHA-insured The original loan may have been a first or second lien, conforming or nonconforming The loans will be made under the Taxable Program with State Veteran and HOF options (only if the original loan was a HOF loan) Non-AHFC mortgagors may refinance their existing loan using AHFC's Taxable Program

REO or REO Loan real estate owned by AHFC through foreclosure, i e property that AHFC currently holds title to

Resident of the State of Alaska - Evidence of residency includes, but is not limited to, employment, unemployment, hunting, fishing and/or driver's licenses, income tax records, motor vehicle registration, voter registration or occupational licensing

RFI Request for Information

RFP Request for Proposal

RFQ Request for Quote

RHD Rural Housing Division of AHFC: Oversees direct and indirect loan programs designed to finance the purchase, renovation or construction of residential property by Alaska residents in "small communities" as defined by state law, where conventional financing is otherwise limited

RHPS Requisition for Development of Modernization Funds: Forms to request HUD reimbursements for capital improvement programs (pronounced rips)

RIC Research Information Center (pronounced rick): An energy and construction library operated by the Research and Rural Development Department (R2D2)

RIGI Regional Inspector General for Investigation: handles fraud and program abuse matters for HUD at the regional office level

RIHP Rural Initiative Housing Program; see RILP

RIHPP Rural Initiative Housing Pilot Program; see RILP

RILP Rural Incentive Loan Program, formally known as the Rural Initiative Housing Program or Rural Initiative Housing Pilot Program

RIP Retirement Incentive Plan (pronounced rip)

RS Resident Services Department of the The PHD Housing Operations Department

RSA Reimbursable Services Agreement

RSVP Retired Senior Volunteer Program

RTC Resolution Trust Corporation: AHFC is the clearinghouse for RTC Affordable Housing Program in Alaska

R2D2 AHFC's Research & Rural Development Division: This department oversees energy and weatherization programs, Supplemental Housing Development grants, the Research & Information Center, and researches innovative construction methods

Rural Defined as a small or very small community

Rural Cap Rural Alaska Community Action Program, Inc (pronounced rural cap)


S&L Savings and Loan Association

S&P Standard & Poor's: a national bond rating agency

SAFAH Supplemental Assistance and Facilities to Assist the Homeless (pronounced saf-uh): A HUD grant program now called Supportive Housing Grants

SAM State-Assisted Mortgage (pronounced sam): The fund that is AHFC's general account that holds AHFC's unrestricted assets and investments

S A V E Specialized Academic and Vocational Education (pronounced save): An alternative learning program in the Anchorage School District

SB Senate Bill

SBA Small Business Administration

SEC Securities Exchange Commission

SECP State Energy Conservation Program

Section 3 A HUD regulation that requires AHFC, when using HUD funds, to direct employment and other economic opportunities to low- and very low-income persons, or business concerns which provide economic opportunities to low- and very low-income persons

Section 8 Usually refers to the Section 8 Existing HUD rental program, which assists low-income families in leasing privately owned decent, safe, and sanitary housing AHFC currently administers 2,665 Section 8 Existing certificates and vouchers in 10 communities

Section 8 New Construction Five of the complexes AHFC owns and operates as public housing are subsidized by HUD under this program rather than the Low Rent Program (Chugach View and Ptarmigan Park, Anchorage; Sunset View, Cordova; Golden Towers, Fairbanks; and Glacier View, Seward)

Section 504: Equal accessibility requirements of the Fair Housing Amendments Act of 1988

Self-Insurance Pool coverage initiated and maintained in-house by AHFC This self-insurance applies almost exclusively to the Insured Mortgage Loan Program and Residential Mortgage Loan (rental property) Pool

SEMAP Section 8 Management Assessment Program (pronounced sea-map)

SFR single-family residence

SLBP State Lease Building Program: Under this program, AHFC is authorized to issue bonds to finance the construction of state buildings (This program was formerly operated by the Alaska State Housing Authority, and major projects included the Juneau State Office Building and the Anchorage Courthouse)

SLED Statewide Library Electronic Doorway (pronounced sled): A service providing computer-based menu access to electronically available state, federal, and worldwide information through the Internet at no charge to Alaskans

Small Community - A community of 6,500 or less that is not connected by road or rail to Anchorage or Fairbanks, or a community of 1,600 or less that is connected by road or rail to Anchorage or Fairbanks and at least 50 statute miles outside of Anchorage or 25 statute miles outside of Fairbanks "Connected by road" does not include a connection by the Alaska Marine Highway System or roads outside the boundary of the State of Alaska

SOA State of Alaska

SRO Single Room Occupancy: Transitional housing aimed at homeless persons of low- to very-low income

S/S Seller/Servicer

SSI Supplemental Security Income

STAR Standing Together Against Rape (pronounced star): A support group for victims of rape

State Veteran's Preference Certain low-income residents of Alaska who served in the armed forces of the United States after 4/6/17 and were honorably discharged, including certain widows, widowers, and persons having served in reserve units, may be eligible for an interest-rate reduction

Streamline Refinance Loan A loan which is included in the Refinance Loan Program categories which began 12/17/92

Stripper Well Oil-overcharge funds received by AHFC on behalf of Alaska under the 1986 Stripper Well Exemption Litigation Settlement The overcharge funds must be used for existing or new energy-related programs to provide widespread benefits to petroleum consumers throughout Alaska Numerous deposits have been made to this account over the years as a result of court settlements To date, Alaska has received and/or accrued in interest a total of $10,395,000


TAG Tenant Assistance Grant

TARS Tenant Accounts Receivables (pronounced tars): The outstanding balance owed to AHFC by current or former tenants of public housing units

TCC Tanana Chiefs Conference

TDC Total Development Cost: The total cost of development of a given project, including the costs of land, planning, all fees, construction financing, construction, landscaping and off-site improvements

TDD A terminal device used widely by deaf people for text communication over telephone lines. The acronym TDD is sometimes expanded as "Telecommunication Display Device" but is generally considered to be derived from "Telecommunications Device for the Deaf." The deaf themselves do not usually use the term "TDD" but prefer simply "TTY" possibly the original term. The ambiguity between this and the other meanings of "TTY" is generally not problematic The acronym "TTD" is also common [Teletype for the deaf?]

TEAC Technical Energy Advisory Committee

THRHA Tlingit-Haida Regional Housing Authority (based in Juneau): One of the 14 Indian (regional) housing authorities in Alaska

TIP Tenant in Possession

TNHA Tagiugmiullu Nunamiullu Housing Authority (based in Barrow) (formerly North Slope Borough Housing Authority): One of the 14 Indian (regional) housing authorities in Alaska

TOP Tenant Opportunities Program

TRACS Tenant Rental Assistance Certification System (pronounced tracks)

Triplex A single structure designed with three separate housing units

TTP Total Tenant Payment

221(d)(3) Section 8 Additional Assistance public housing property owned by AHFC: Etolin Heights in Wrangell (also known as MA03)

TTY A terminal device used widely by deaf people for text communication over telephone lines The deaf themselves usually use the term "TTY" possibly the original term. However, the common term is often the acronym TDD, sometimes expanded as "Telecommunication Display Device" but is generally considered to be derived from "Telecommunications Device for the Deaf." The ambiguity between this and the other meanings of "TTY" is generally not problematic. The acronym "TTD" is also common [Teletype or teletypewriter for the deaf?]

Turnkey III A HUD low-income homeownership program


UAA University of Alaska Anchorage

UAF University of Alaska Fairbanks

UAS University of Alaska Southeast

UBC Uniform Building Code: A national code published by the International Conference of Building Officials, prominently used in the western states

UCC Uniform Commercial Code

UEC Uniform Electrical Code

ULUnderwriters Laboratories Inc.

UMC Uniform Mechanical Code

Unsecured Loan A signature loan; a loan not secured by any collateral

UPC Uniform Plumbers Code

UR Urban Renewal

URL Uniform Resource Locator: an address for a website (AHFC's website address is

USDA U.S. Department of Agriculture

USDOE U.S. Department of Energy


VAVeterans Administration: the VA offers a loan guaranty to honorably discharged veterans that are commonly referred to as zero down payment loans

VA Loan Veterans Administration-guaranteed loan: In the event of a default, the VA generally makes payments ranging from $27,500 to $35,000 in full settlement of its obligation. Loans may also be repurchased at the option of the VA

Very Small Community A community of less than 1,400 not connected by road or rail to Anchorage or Fairbanks

Veterans Mortgage Program (VMP) Qualified veterans may receive a lower interest rate than is available through other loan programs Under the VMP, AHFC will purchase Conventional, VA, and FHA loans on single-family through fourplex dwellings

VMP Veterans Mortgage Program

Voc Rehab Vocational Rehabilitation

VRM Variable Rate Mortgage: Mortgage stipulating that the interest rate can be adjusted periodically to reflect variations in prevailing interest rates


WIC Women, Infants & Children (pronounced wick): A government-sponsored program to educate and assist low-income families in prenatal and postnatal care

WICCA Women in Crisis Counseling and Assistance: A women's shelter and counseling center in Fairbanks

WIN Work Incentive Program (pronounced win) formally known as Welfare-to-Work

WX AHFC's Low-Income Weatherization Program (also see above)


Year End Statement A statement from a mortgage lender that provides a summary of the taxes, mortgage interest and principal paid for the year


Zero Lot Line A term generally used to describe the positioning of a structure on a lot so that one side rests directly on the lot's boundary line. Although such construction is usually prohibited by setback ordinances, it can be a part of a special space-conserving project