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Mortgage Terms - "O" |
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- Office
of Comptroller Currency
- A federal government regulatory agency that oversees some
commercial banks.
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- Office of Thrift
Supervision
- A federal government regulatory agency that oversees savings
and loans.
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- Open
End Mortgage
- A mortgage permitting the mortgagor to borrow additional
money under the same mortgage, with certain conditions,
usually, as to the assets of the mortgage.
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- Origination Fee
- A fee or charge for work involved in the evaluation, preparation
and submission of a proposed mortgage loan.
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- Owner of Record
- The owner of a property that has a deed indicating his
ownership that has been recorded at the local municipality.
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- Owners Policy
- Title insurance for the owner of property, rather than
a lienholder.
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