offer to purchase
A document drafted by a broker once a seller has decided to purchase a vehicle. The Offer to Purchase should include a contingency of sea trial and survey.

Office of Comptroller Currency
The oldest federal financial regulatory body overseeing the nation's federally chartered banks.

Office of Thrift Supervision
Regulatory and supervisory agency for federally chartered savings institutions.

origination fee
Fee charged by a lender for processing a loan, usually expressed as a percentage of the loan (or points), which pays for the work in evaluating and processing the loan.

owner financing
A purchase in which the seller provides all or part of the financing.