Glossary definitions provided in part by the Jump$tart Coalition for Personal Financial Literacy.

Origination: The steps that a lending institution completes up to the time a loan is placed on its books, including processing of applications and loan closing.

Origination Fee: The fee, charged by the lender, for services provided in connection with the origination and funding of the loan.

Out-of-Pocket Cost: An expense paid for by an individual.

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