Top: Business: Finance and Insurance: Mortgages: Terminology: O

[ history ]

Offer

indication by a potential buyer of a willingness to purchase a home at a specific price; generally put forth in writing.


[ history ]

Origination

the process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property appraisal.


[ history ]

Origination fee

the charge for originating a loan; is usually calculated in the form of points and paid at closing. 



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