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ORIGINATION - ANSWER-THE PROCESS OF CREATING A NEW LOAN, INCLUDING ALL STEPS TAKEN BY THE LENDER TO ATTRACT AND QUALIFY A BORROWER. MORTGAGE BROKERS - ANSWER-HE MIDDLEMAN, BRINGING THE LENDER AND THE BORROWER TOGETHER IN A LOAN PROGRAM THAT MEETS THE BORROWER'S NEEDS MORTGAGE BANKERS - ANSWER-USE THEIR OWN FUNDS TO PROVIDE THE FINANCING FOR THE BORROWER. THEY TAKE THE APPLICATION, ORIGINATE, PROCESS, UNDERWRITE, CLOSE AND FUND THE LOAN. A CORRESPONDENT LENDER OPERATES SIMILARLY TO A MORTGAGE BANKER IN PROVIDING FINANCING FOR THE BORROWER. UNDERWRITING - ANSWER-HE DETAILED PROCESS OF EVALUATING THE BORROWER'S APPLICATION, DETERMINING THE RISK INVOLVED IN LENDING THE BORROWER THE MONEY AND EITHER APPROVING OR DENYING THE LOAN. (THE UNDERWRITER IS THE ONE WHO CONSIDERS THE BORROWER'S CHARACTER, CAPACITY, CAPITAL AND COLLATERAL) OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC) - ANSWER-CHARTERS, REGULATES AND SUPERVISES ALL NATIONAL BANKS AND SAVINGS ASSOCIATIONS FDIC - ANSWER-INSURES DEPOSITS IN BANKS AND THRIFT INSTITUTIONS UP TO $250,000 PRIMARY PROGRAMS ADMINISTERED BY HUD: - ANSWER-FHA MORTGAGE INSURANCE PROGRAM, SECTION 8 RENTAL ASSISTANCE PROGRAM, PUBLIC OR SUBSIDIZED HOUSING PROGRAMS, FAIR HOUSING PUBLIC EDUCATION AND ENFORCEMENT, GINNIE MAE, ETC.