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"Your Education Center" |
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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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