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Dear Sharon,
I want to compliment you and your staff for the wonderful treatment I received in the refinancing of my home. All of you were so kind...
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GLOSSARY 'Q' |
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1. |
Qualification:
The process which determines whether an applicant can be approved for a mortgage loan.
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2. |
Qualifying Ratio:
The ratio of the borrower's fixed monthly expenses to his gross monthly income.
The Front-End Ratio is the percentage of a borrower's gross monthly income (before income taxes) that would cover the cost of PITI (Payment + Interest + Taxes + Insurance).
The Back-End Ratio is the percentage of a borrower's gross monthly income that would cover the cost of PITI plus any other monthly debt payments.
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Quality Control:
Policies and procedures designed to maintain optimal levels of quality, accuracy and efficiency in the production, selling and servicing of mortgage loans.
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4. |
Quitclaim Deed:
A deed relinquishing all interest, title or claim an owner has in a property.
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Equal Housing Lender. Casa Blanca Mortgage, Inc., DBA Shearson Mortgage. Some products may not be available in all states. ©2008 Shearson Mortgage. All rights reserved. |
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