Business / Real Estate / Loan Origination Fee: The processing of a mortgage application is known as loan origination. When a mortgage loan is originated, a loan origination fee, or transfer fee, is charged by most lenders to cover the expenses involved in generating the loan. These include the loan officers salary, paperwork and the lenders other costs of doing business.
Fee Noun Synonyms: pay, payment, emolument, compensation, recompense, honorarium, remuneration, rate, wage(s), stipend, salary
Fee Verb Synonyms: charge, price, cost, fare, bill, tariff, toll, damage(s)
Business / Real Estate / Loan Fees: Also called loan origination fees. Costs charged by a lender for giving out a loan, may include points, tax service fees, an appraisal fee, etc. MORE
Business / Loan / Open-End Loan: A loan that permits the borrower to draw money from time to time up to a credit limit. A home equity line of credit (HELOC) is an open-end loan secured by a home. MORE