One of the mysteries of the English language finally explained.
A fee charged by a lender on entering into a loan agreement to cover the cost of processing the loan.
- ‘The bill calls for the gradual reduction in loan origination fees, eventually paring down the fees to one percent.’
- ‘We eliminated the origination fee for our graduate students.’
- ‘Lenders make less money from service and origination fees than they do on interest income.’
- ‘If it's higher than what you were promised, the bank may have slipped in an origination fee or given you a higher interest rate.’
- ‘Well, there's a 2 percent mortgage insurance premium, and a 2 percent origination fee.’
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