The act of applying formal guidelines that provide qualitative and quantitative standards for determining whether or not a loan should be approved.
An ownership right to use and possession of a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.
Real estate that is owned free and clear.
An instrument that transfers title from one party (grantor) to another party (grantee) without providing public notice of the change in ownership.