QQCT: See QUALIFIED CENSUS TRACT. QUALIFIED CENSUS TRACT (QCT): Any census tract (or equivalent geographic area defined by the Census Bureau) in which at least 50 percent of households have an income less than 60 percent of the area median gross income or have a poverty rate of at least 25 percent. QUALIFIED MORTGAGEE: An entity approved by the HUD Secretary that is capable of servicing, as well as originating, FHA-insured mortgages, and is not suspended or debarred by the Secretary, is not suspended or on probation imposed by HUD’s Mortgagee Review Board, and is not in default under any Government National Mortgage Association obligation.
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