Hello, everyone! I do believe this is long overdue. Looks like I was too busy in November to write a Term of the Month!
Origination Fee - a fee paid to a lender for services provided when granting a loan, usually a percentage of the face amount of the loan.
This is simply the money paid to the lender for the work done to process your loan. In the United States, these fees are generally between .5 and 1 percent of the total loan amount.
Origination Fee - a fee paid to a lender for services provided when granting a loan, usually a percentage of the face amount of the loan.
This is simply the money paid to the lender for the work done to process your loan. In the United States, these fees are generally between .5 and 1 percent of the total loan amount.
"Origination Fee - a fee paid to a lender for services provided when granting a loan, usually a percentage of the face amount of the loan."