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. |
