Mortgage Glossary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z QTI (Qualified Thrift Investment)
Housing-related assets that a savings institution can count toward meeting its qualified thrift lender test.

QTL (Qualified Thrift Lender)
A savings institution that qualifies for low cost advances from its Federal Home Loan Bank and/or qualifies for federal tax benefits by virtue of having at least a certain percentage of its assets in housing-related investments. Traditionally, the minimum has ranged between 60 and 70 percent of assets. See Qualified Thrift Investment.

Qualified Thrift Investment (QTI)
Housing-related assets that a savings institution can count toward meeting its qualified thrift lender test.

Qualified Thrift Lender (QTL)
A savings institution that qualifies for low cost advances from its Federal Home Loan Bank and/or qualifies for federal tax benefits by virtue of having at least a certain percentage of its assets in housing-related investments. Traditionally, the minimum has ranged between 60 and 70 percent of assets. See Qualified Thrift Investment.

Qualifying Ratios
Calculations made to determine a borrower's eligibility for a mortgage. The ‘top' ratio refers to the borrower's monthly housing costs as a percentage of his or her income; the ‘bottom' ratio includes other monthly debt as well.

Quick Take
The acquisition by government of private real property under the power of eminent domain, prior to the completion of condemnation proceedings, in order to avoid loss of time.

Quiet Title Action
A legal process to eliminate any claims against a property by persons other than the owner. The procedure is used to perfect the title to the property when quitclaim deeds can not be obtained from those who may have such claims on the property.

Quitclaim Deed
A deed that transfers a grantor's remaining interest or title (without warranty) when the conveyance is made.

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