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F-3-15, Acronyms and Glossary of Defined Terms: O (06/10/2015)

OFAC

Office of Foreign Assets Control

outsource vendor

A third party engaged by a servicer or subservicer to perform select servicing functions according to the terms of an outsource or vendor agreement.

owner of record

The entity that appears in the public records as the owner of a mortgage; usually the mortgage originator, unless the mortgage is subsequently assigned to someone else and that assignment is recorded.

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