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Banking

The business of a banker, banking involves an establishment for the loaning, holding, exchanging, or issuing of money. Also deals with the transmission of funds and the extensions of credit.

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Banking > Mortgage

qualification
Banking; Mortgage

The process of determining whether a prospective borrower has the ability, meaning sufficient assets and income, to repay a loan.

qualification rate
Banking; Mortgage

The interest rate used in calculating the initial mortgage payment in qualifying a borrower.

qualification ratios
Banking; Mortgage

Requirements stipulated by the lender that the ratio of housing expense to borrower income, and housing expense plus other debt service to borrower income, cannot exceed specified ...

qualification requirements
Banking; Mortgage

Standards imposed by lenders as conditions for granting loans, including maximum ratios of housing expense and total expense to income, maximum loan amounts, maximum loan-to-value ...

rate protection
Banking; Mortgage

Protection for a borrower against the danger that rates will rise between the time the borrower applies for a loan and the time the loan closes.

rate sheets
Banking; Mortgage

Tables of interest rates and points that lenders distribute daily to their loan officer employees or mortgage brokers.

referral fees
Banking; Mortgage

Payments made by service providers to other parties as quid pro quo for referring customers. For example, a title company provides something of value to a Realtor or lender for ...

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