Related Words

Origination: The making of mortgage loans.

Loan Origination Fee: The processing of a mortgage application is known as loan origination. When a mortgage loan is originated, a loan origination fee, or transfer fee, is charged by most lenders to cover the ex . . . View Full Definition

Origination Fee: An origination fee is an amount, usually calculated as a percentage of a mortgage loan or home equity loan, which a lender charges for processing your application. The origination fee may be . . . View Full Definition

Computerized Loan Origination (CLO) System: An electronic network for handling loan applications through remote computer terminals linked to various lenders computers.

Mortgage Origination Fee: A charge for work involved in preparing and servicing a mortgage application (usually one percent of the loan amount).

Points: A fee charged by the lender as additional compensation for making the loan. One 'point' is equal to 1% of the principal amount of the loan.

Fiat Money: The percentage of loans in a pool of mortgages outstanding at the origination anniversary, based on annual statistical historic survival rates for FHA-insured mortgages.

Loan Fees: Also called loan origination fees. Costs charged by a lender for giving out a loan, may include points, tax service fees, an appraisal fee, etc.

Network: A connecting system which allows simultaneous telecasting of a single origination by a number of stations.

Periodic Interest Rate: The periodic interest rate, sometimes called the nominal rate, is the interest rate a lender charges on the amount you borrow. Lenders are also required to tell you what a loan will actually . . . View Full Definition