Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Mortgage refers to the transfer of interest from the owner to the lender, as a security of debt. This interest is to go back to the owner once the debt is paid. Two basic types of mortgages instruments that are identified are- Mortgage Deed and deed of trust.
This process of providing mortgage loan is often a structured one that demands a monitoring tool to be imposed on it. Such a tracking enables a transparent conduction of the task.
The decision as to whether a given person be provided the mortgage loan or not depends to a large extent on the credit history of the individual. This credit history brings in a summarized form the 'level to which the past credit commitments were paid' by the person in question. In other words, the likelihood of receiving the debt in time can be known by looking at the previous promptness with which payments were made.
One can employ BSC (Balanced Scorecard) for this purpose. The metrics written on it should be selected after figuring out the 'factors that matter'. Once this is done, KPIs (Key Performance Indicators) that can accurately mirror the progress of Mortgage can be put together.
This is the actual scorecard with Mortgage Performance Indicators and performance indicators. The performance indicators include: capital adequacy ratio, distance-to-default, debt-to-income ratio (dti), annual percentage rate (apr), amortization term, loan points, company perspective, capital adequacy, gross debt service ratio (gds), customer credit quality.
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