Mortgage Glossary (Q)
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Qualifying Guidelines: Criteria used to determine eligibility for a loan.Qualifying Ratios: Calculations that are used in determining the loan amount that a borrower qualifies for, typically a comparison of the borrowers total monthly income to monthly debt payments and other recurring monthly obligations.
Quality Control: A system of safeguards to ensure that loans are originated, underwritten and serviced according to the lenders standards and, if applicable, the standards of the investor, governmental agency, or mortgage insurer.
Quitclaim Deed: A deed that releases any and all interest you may hold in a property and makes no warranty whatsoever.