Quality Control (Qc) Program

Quality Control (Qc) Program

A Quality Control (QC) Program is the process and written procedures through which the Mortgagee seeks to ensure that FHA operations and Loan Administration are in compliance with all applicable requirements. Rate and Term Rate and Term refers to a no cash-out refinance of any Mortgage in which all proceeds are used to pay existing mortgage liens on the subject Property and costs associated with the transaction. Real Estate Commission from Sale of Subject Property Real Estate Commission from Sale of Subject Property refers to the Borrower’s portion of a real estate commission earned from the sale of the Property being purchased.