Definition
Origination Fee
A charge by the lender for processing the loan, expressed as a percentage of the loan amount or a flat sum.
Nearby terms
Non-Warrantable Condo
A condominium that fails agency project standards — often due to investor concentration, litigation or inadequate reserves — requiring specialty financing.
Note
The promissory note: your written promise to repay a specific sum on specific terms.
Owner’s Title Policy
Title insurance protecting the buyer's ownership interest, optional in most states and lasting as long as you hold an interest in the property.
PITI
Principal, interest, taxes and insurance — the four core components of a mortgage payment.
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