Original principal balance The total amount of principal owed on a mortgage before any payments are made.
Origination Fee A fee paid to a lender for processing a loan Application.
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.
Owner financing A property purchase transaction in which the property seller provides all or part of the financing.
Owner Occupied "Owner Occupied" means the property is the owner's primary residence.