Mortgage
Terms
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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
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Office of Thrift Supervision (OTS)
The regulatory and supervisory agency for federally chartered savings institutions.
Formally known as Federal Home Loan Bank Board
One-year adjustable
Mortgage whose annual rate changes yearly. The rate is usually based on movements
of a published index plus a specified margin, chosen by the lender.
Origination Fee
The fee charged by a lender to prepare loan documents, make credit checks, inspect
and sometimes appraise a property; usually computed as a percentage of the face
value of the loan.
Owner Financing
A property purchase transaction in which the party selling the property provides
all or part of the financing.
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