Drew Mortgage Associates - Online Mortgage Dictionary


Obligations	Any debt or recurring payment the borrower is obligated to pay, except for mortgage payments.
Obsolescence	Condition or process of falling into disuse.
Origination Fee	A 1-time setup fee charged by the lender. One of the lender's charges to a borrower for handling a loan transaction.
Overimprovement	An improvement, excessive in cost or size, in relation to land value or value of surrounding improvements.
Owner Occupied	Designation given to property used as the owner's residence.