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| • | Open-End Credit - A line of credit that may be used over and over again, including credit cards, overdraft credit accounts, and home equity lines. |
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| • | Original Principal Balance - The total amount of principal owed on a mortgage before any payments are made. |
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| • | Origination Fee - A fee commonly charged by a lender for processing a loan application. The origination fee may be presented in the form of points or a dollar amount. Each point is equal to 1 percent of the loan amount(e.g. two points on a $100,000 mortgage would cost $2,000). |
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| • | OTC - (The Office of Thrift Supervision). Charters federal thrifts, serves as the primary federal examiner and regulator of federal and state-chartered savings associations, and administers laws governing savings and loan holding companies. |
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| • | Overdraft Checking - A line of credit that allows you to write checks or draw funds by means of an EFT card for more than your actual balance, with an interest charge on the overdraft. |
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| • | Owner Financing - A property purchase transaction in which the property seller provides all or part of the financing. |
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| • | Owner Occupied - "Owner Occupied" means the property is the owner's primary residence. |
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