See: Mortgage.
The originator is the bank that loans the money in the first place. They create the paperwork and the legal compliance and disclosure things and all the collateral material around making that loan so things are all nice and legal. When it falls apart, the bank gets sued, and journalists fill the headlines with stories of how bad it was that Big Evil Bank loaned money to Billy Bob, even though Billy Bob signed all the paperwork, swearing and promising to pay back every cent.
The mortgage originator is the backstop, the last word, the Genesis in making the loan. And no, not the one with Phil Collins.
Related or Semi-related Video
Finance: What is a second mortgage?4 Views
Finance allah shmoop What is a second mortgage Okay you
know what a first mortgages it's otherwise cleverly named what
is called it is called oh yeah Mortgage it's Just
a loan on a house You paid four hundred grand
for this baby Hundred grand down two hundred fifty grand
in a first mortgage And they're still fifty grand You
owe well where's that fifty large coming from the bank
wouldn't loan you any more on a first mortgage that
was costing you six percent a year Tio you know
to rent that money So you had to get a
second mortgage which should things go awry and you become
a statistic Well that's it's fully behind the first mortgage
in the priority stack of payback So in a bankruptcy
situation the first mortgage first what's called a first mortgage
get it fully paid along with any fees associated with
it and back interest accrued and any other things that
are associated with that first mortgage it stands in line
first in priority Then any cash leftover gets attributed to
that second mortgage So not surprisingly second mortgage money costs
a lot more to rent then first mortgage money because
the risk of non payment in a bad situation is
meaningful E higher especially when the borrowed does this for 00:01:25.136 --> [endTime] a living
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