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origination fees

   Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.01 sec.
Origination Fee
A percentage of the total amount of a loan that one pays for the privilege to take out that loan. A bank or brokerage assesses this fee in theory to help defray costs. Banks and brokerages must disclose the amount of the origination fee to the borrower within three hours of applying for the loan. See also: Activation fee.

origination fees

Charges to a borrower to cover the costs of originating a loan.



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TruHome Solutions LLC has announced a 20 basis point discount off its mortgage origination fees for all loans funded in September and October.
Highlights of the programme include attractive loan terms, no origination fees and attentive customer service.
But with the new law, origination fees are reduced to 2% on the initial $200,000 and 1% on the remaining balance, with a cap of $6,000.
 
 
 
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