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Glossary
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News and Resources
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- 08/18/2010
-Mortgage Network Expands Across Mid-Atlantic Region Read More- 07/22/2010
-John Holian Joins Northeast Association of Retarded Citizens Board for Second Term Read More- 07/22/2010
-Mortgage Network Hosts Charity Golf Tournament & Casino Night to Benefit Friends Of Ari Shumbres Read More- 07/01/2010
-Mortgage Rates Again Hit New Low Read More- 07/01/2010
-Mortgage Loan Rates Fall to New Low Read More - 08/18/2010
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–Michael, Hillary & Eben | Customers
Glossary
We’ve put together an extensive glossary of terms used in the mortgage lending business. If you’re not sure what a particular term means, click to find the definition in our glossary.
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
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, 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.