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Glossary of Mortgage and Home Equity Terms

To navigate through our glossary, click on the first letter of the word you’re looking for.
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The use of a property as a full-time residence, either by the titleholder (owner-occupied) or by another party through a formal agreement (rental).
The act of securing a completed mortgage application from a commercial or residential borrower and seeing that loan through to loan closing.
Origination Charge
One amount that includes all charges (other than discount points) that all loan originators (lenders and brokers) involved in the transaction will receive for originating the loan. This includes any application, processing, underwriting fees, and payments from the lender to the broker for origination.
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