Loan Origination – the process by which a mortgage lender obtains a mortgage secured by real property.

Also known as 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.

It generally includes all steps or process in taking a loan.

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Related ChexSystems Banking Information:

1. Mortgage
2. Mortgage Banker
3. Minimum Payment
4. Mortgage Broker
5. Lien

Tagged as: loan, Loan Origination, origination