Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
 
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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Ontario Provincial Police Association Credit Union (OPPA, OPPACU) — Bank, Ontario, Canada
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Ontario Real Estate Association (OREA) — Company Est.1922, Ontario, Canada, Important
Assist real estate brokers and industry members through Ontario offering wide variety of publications, educational programs and special services.
  ➥  OREA provides all real estate licensing courses in Ontario.
Ontario Strategic Infrastructure Financing Authority (OSIFA) — Ontario, Canada
  ➥  An Ontario Government Act.
onus itemDefinition
A payment that is deposited at the same financial institution in which it was drawn or written. For example, a cheque that is written by one bank customer and deposited by the recipient at another branch of the same bank. These items are not cleared between institutions and therefore are not represented in statistics of payments exchanged between financial institutions in the clearings.
open for inspection (OFI) — Acronym
An open house, usually set a specific times each week, where potential buyers can inspect the property.
  ➥  A time set for viewing a property.
open house (OH)Definition
A selling tool in which a real-estate agent advertises a property for sale and invites people to visit without making an appointment.
open listingDefinition
A property that a number of brokers can market and sell for a commission.
open market value (OMV) — Acronym
Price an asset should achieve when sold on an open or competitive market.
open mortgageDefinition, Important
A mortgage that can be paid off prior to maturity without penalty.
open-end fundDefinition
A mutual fund that allows investors to buy or sell shares in the fund at their net asset value each business day.
open-end leaseDefinition
Sometimes called a finance lease. It usually offers lower payments, but carries a risk for the consumer. Under an open-end lease, the lessee must pay any difference between the residual value of the car as stated in the lease and the fair market value of the car, if lower, at the end of the lease. The lessor pays for the appraisal that sets the value. If the consumer doesn't agree with it, the consumer may pay for a binding, independent appraisal by someone agreed to by both parties.
operating cash flow (OCF)Definition
The money a company generates from its business operations. This revenue excludes costs from certain investments.
operating cash flow demand (OCFD) — Acronym
operating income before interest and amortization (OIBDA) — Acronym
operating loanDefinition
A loan intended for short-term financing, supplying cash flow support or to cover day-to-day operating expenses.
operational expenses (OpEx)Definition
Costs accruing from a business's business operations.
optionDefinition
A legal agreement giving someone the right to buy, sell or lease a property or item at specified terms for a specified period.
optionsDefinition
Also known as add-ons. These are features added to the car often by the dealer such as a CD stereo, anti-theft system, detailing and undercoating. Some items are purely decorative, known as "mop and glow," and do not add any value to the car.
Options Licensing Course (OLC) — Canada
Options Strategies Course (OSTC) — Canada
Options Supervisors Course (OPSC) — Canada
or best offer (OBO) — Acronym
oral agreementDefinition
A spoken, unwritten legal agreement, worth the paper it's printed on.
ordinary annuity (OA) — Acronym
ordinary dividendsDefinition
The distribution of a company's profits that are subject to full taxation.
ordinary incomeDefinition
Income that does not qualify as a capital gain including wages, interest, dividends, and net income from a business.
original principal balanceDefinition
The amount borrowed.
origination dateDefinition
The date on which a loan is funded.
origination feeDefinition
The fee a lender charges to process a loan. It usually includes the cost to prepare loan documents, check a borrower's credit history, inspect the property and sometimes conduct an appraisal. CanEquity will in most cases use a lender who doesn't charge this fee or we will cover the cost in full.
other income/expensesDefinition
Any income or expenses earned or disbursed by a business that are not clearly associated to its core operations.
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Oakville, Milton and...Ontario New Home...
 
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Other Party LiabilityOwner Will Finance

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