Offer- A promise by one party to do a specified deed as the other party in turn performs a specific deed.

Office of Comptroller Currency- A federal government regulatory agency that oversees some commercial banks.

Office of Thrift Supervision- A federal government regulatory agency that oversees savings and loans.

Open End Mortgage- A mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions.

Open Listing- An authorization given by a property owner to a real estate Broker wherein said Broker is given the nonexclusive right to secure a purchaser; open listings may be given to any number of Brokers without liability to compensate any except the one who first secures a buyer ready, willing and able to meet the terms of the listing, or secures the acceptance by the seller of a satisfactory offer.

Origination Fee- A fee or charge for work involved in the evaluation, preparation and submission of a proposed mortgage loan.

Owner of Record- The individual (s) named on a deed that has been recorded at the local municipality.

Owners Policy- Title insurance for the owner of property, rather than a lien holder.

Ownership- The right to possess and use property to the exclusion of others.