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Simple English definitions for legal terms

origination fee

Read a random definition: CAN-SPAM Act of 2003: Businesses Promoted by Spammers

A quick definition of origination fee:

An origination fee is a fee that a borrower pays to a lender when applying for a loan. This fee is paid upfront and is usually a percentage of the loan amount. The lender uses this fee to cover the costs of processing the loan application. Origination fees can be negotiable, and borrowers may be able to get a lower fee for larger loan amounts. The government has put limits on loan origination fees to protect borrowers.

A more thorough explanation:

An origination fee, also known as an origination point, is a fee that a borrower pays to a lender to process a loan application. This fee is paid upfront and is usually a percentage of the loan amount. The lender charges this fee to cover the costs associated with setting up the loan or mortgage.

For example, if you are taking out a mortgage of $200,000 and the lender charges an origination fee of 1%, you will have to pay $2,000 upfront to the lender.

Origination fees are often negotiable, and borrowers can try to negotiate for lower fees. For instance, if you are taking out a larger loan, you may be able to negotiate a lower origination fee. Lenders may be willing to reduce the fee to earn your business.

It is important to note that the government has enacted legislation to limit loan origination fees. For example, the § 206.31 regulation limits the amount that lenders can charge for origination fees.

Overall, an origination fee is a fee that borrowers pay to lenders to process a loan application. It is usually a percentage of the loan amount and can be negotiable.

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babycat
11:10
yeah fuck gtown btw
LSDFan
11:10
they don't even kick doors. They put C4 in a dip can and tape it to the wall
11:10
I am sure they kick some doors but yes
11:11
@EvolBunny: im a uki
babycat
11:11
terrible admin
BulbasaurNoLikeCardio
11:11
@babycat: I wonder why gtown felt what they said was a good idea and how secure that individual felt in their job to believe there would be no backlash.
Dkk
11:11
please, tell me more about Europa: The Last Battle @MostlyLegal
11:11
nothing you dont already know
Dkk
11:12
Lmfao, damn out of messages again. Time to go sit in the hot tub.
11:12
@BulbasaurNoLikeCardio: honestly fuck these schools
11:12
The way they act is so cringe and gives mad ick
babycat
11:12
@BulbasaurNoLikeCardio: people are saying this has been a pattern with them
babycat
11:12
imagine being a religious school and not supporting mothers. practice what you preach!
11:12
Fuck dem hoes
11:13
Child bearing people*
11:13
i cant spell fuck dont correct me
11:15
Anywayyyyy, i think today i will withdraw all my apps
11:15
This lsat is not doing it
babycat
11:15
lol live ur truth
11:15
ASU at 154 is damn good
11:15
154 scholly
BulbasaurNoLikeCardio
11:15
It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.
Dkk
11:16
@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.
11:16
Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?
babycat
11:16
School fucked up so bad they got hellwoods to sign a petition
11:16
Ive also heard their career center is awful too, I think its why it will never be anything but 14-15
JumpySubsequentDolphin
11:17
@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her
JumpySubsequentDolphin
11:17
accommodate*
11:17
@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes
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