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Origination |
Also found in: Dictionary/thesaurus, Medical, Encyclopedia, Wikipedia, Hutchinson | 0.23 sec. |
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Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real property. It is through this process that the terms of the mortgage agreement (amount of loan, interest rate, compounding frequency, etc) are established and the involved parties legally bind themselves to the transaction.Origination |
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Origination