Definitions - O

Office of Comptroller Currency: A federal government regulatory agency that oversees some commercial banks.
Office of Thrift Supervision: A federal government regulatory agency that oversees savings and loans.
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.
Origination Fee: A fee or charge for work involved in the evaluation, preparation and submission of a proposed mortgage loan.
Owner of Record: The owner of a property that has a deed indicating his ownership that has been recorded at the local municipality.
Owners Policy: Title insurance for the owner of property, rather than a lienholder.


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Office of Comptroller Currency