Truth In Lending Act (TILA): This is a federal law designed to protect borrowers and to give them enough information to comparison shop for loans. TILA requires certain disclosures about the loan and when they must be given to the borrower. TILA also provides additional protections and prohibitions.

 

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Truth In Lending Act (TILA): This is a federal law designed to protect borrowers and to give them enough information to comparison shop for loans. TILA requires certain disclosures about the loan and when they must be g . . . View Full Definition

Original Face Value: The principal amount of a mortgage as of its issue date.

Original Horizontality: One of the principles of relative dating. Based upon the good assumption that sedimentary rocks are deposited in horizontal or nearly horizontal layers: then if sedimentary layers are found . . . View Full Definition

Original Equipment Manufacturer (OEM): Any manufacturer that sells its product to a reseller. Most often refers to the original manufacturer of a device or component, but certain products licensed as OEM, like Windows operating s . . . View Full Definition

Original Book Of Entry: A book which contains the details of the day to day transactions of a business (see Journal ).

Origin: The location where a trip starts.

Original Basis: The sum of the purchase price of a property plus buying expenses on acquisition.

Original Issue Discount: A bond or other debt security that is issued at less than par but can be redeemed for full par value at maturity is an original issue discount security. The appeal, from an investor's perspe . . . View Full Definition

Original Margin: The margin needed to cover a specific new position. Related: Margin, security deposit (initial).

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