On-The-Run vs Off-The-Run - The on-the-run treasury is the most recently issued treasury in a particular sector. Currently the government issues 2yr, 3yr, 5yr, 10yr, and 30yr treasuries. These are the only maturities where there are on-the-runs. 5yr treasuries, for example, are issued at the end of every month, so every month there is a new on-the-run 5yr. 10yrs are issued quarterly in February, May, August, and November. The current on-the-run 10yr is November 2009; in February it will become the February 2010 and the November will then be off-the-run. On-the-run treasuries always trade at lower yields because there is increased demand for them because they are the benchmarks.
Operating Expenses - Periodic expenses (usually monthly) of operating income-producing property other than debt service and income taxes. Operating expenses are those directly related to the level of occupancy and usage of the building. These can include management fees, maintenance, ground maintenance, utilities, supplies, legal fees, accounting fees, and other such costs. These expenses are subtracted from gross income to equal the net operating income.
Operations and Maintenance Plan (O M) - A written plan detailing the removal of potentially environmental sensitive materials.
Origination Fee - The amount charged by a lender to cover the time and expenses incurred in arranging a loan. This fee covers such expenses as credit checks, and appraisal of the property. Normally the origination fee is stated as a percentage of the loan amount; for example, one percent.