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GLOSSARY OF MORTGAGE TERMS:
Page 1 of 1 | 5 terms beginning with 'O' 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. OTC (The Office of Thrift Supervision). Charters federal thrifts, serves as the primary federal examiner and regulator of federal and state-chartered savings associations, and administers laws governing savings and loan holding companies. Owner financing A property purchase transaction in which the property seller provides all or part of the financing. Owner Occupied "Owner Occupied" means the property is the owner's primary residence. |