A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z |
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Terms: O |
| Office of Thrift Supervision |
| The regulatory and supervisory agency for federally chartered savings institutions. Formally known as the Federal Home Loan Bank Board. |
| Original Principal Balance |
| The total amount of principal owed on a mortgage before any payments are made. |
| Origination Fee |
| A fee paid to a lender for processing a loan application, making a home loan, and recording a mortgage against the borrower's real property as security for repayment of the loan. The origination fee is stated in the form of points. One point is 1% of the mortgage amount (e.g., 1,000 on a $100,000 loan). |
| Owner Financing |
| A property purchase transaction in which the property seller provides all or part of the financing and takes back a security instrument. |