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QA/QC is the combination of quality assurance, the process or set of processes used to measure and assure the quality of a product, and quality control, the process of ensuring products and services meet consumer expectations.
In consumer lending, mortgage origination, a specialized subset of loan origination, is the process by which a lender works with a borrower to complete a mortgage transaction, resulting in a mortgage loan. A mortgage loan is a loan in which property or real estate is used as collateral.
For example, if the home is valued at $200,000 and the first mortgage is $100,000 with second mortgage of $50,000, the LTV is 50% while the CLTV is 75%. Naturally, the higher LTV and CLTVs increase the risk of loan. Furthermore, borrowers who contribute significant down payment (lowering the LTV) statistically have lower incidents of foreclosure.
The terms "quality assurance" and "quality control" are often used interchangeably to refer to ways of ensuring the quality of a service or product. [3] For instance, the term "assurance" is often used in a context such as: Implementation of inspection and structured testing as a measure of quality assurance in a television set software project ...
Download The Free Fox Weather App. FOX Weather Correspondent Robert Ray was in Erie, Pennsylvania, on Thursday morning as conditions worsened with 30-plus mph wind gusts, making conditions even ...
“For example, by standing on one leg, you can train yourself to coordinate your muscle and vestibular responses to maintain correct balance. If you can stand on one leg for 30 seconds, you are ...
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