Welcome to REMIC’s mortgage and life insurance education blog; your source for licensing tips, industry updates, and professional training insights
Finance Minister Joe Oliver denies that Canada is in the midst of a recession, saying he’s still confident the economy will grow this year. Source: ‘We’re not in a recession’: Finance minister confident in Canadian economy | CTV News
TFSA and Mortgage Investing The TFSA (Tax Free Savings Account) limit increase, based on a 2011 Conservative election promise, is going to be a great boon to those who are in the middle class. Especially those who invest in high yield investment, such as...
Property Value Fraud The Appraisal Property value fraud can occur when criminals, in association with a dishonest appraiser, may have a property appraised at a higher value than it is worth. The criminal will then obtain a mortgage based on the inflated value and...
5 Steps in Fraud Prevention It is of vital interest to both the integrity of the mortgage brokerage industry and the mortgage industry as a whole that mortgage fraud be prevented whenever possible. As criminals use more sophisticated methods of committing fraud it is...
11 Ways Consumers Can Prevent Mortgage Fraud While there are several methods available to industry participants to assist in preventing fraud, there are also several approaches available to consumers. The following advice should be given to a mortgage agent’s...
Mortgage Fraud for Shelter Fraud for shelter is one of the most common forms of fraud in the mortgage industry. This type of fraud occurs when an individual wishes to purchase a home in which to reside with no intent to abscond with mortgage funds or fraudulently sell...
7 Advertising Techniques Brokers Should Avoid Brokerages must be keenly aware of the definitions of the terms used in this Regulation, especially in this climate of financial turmoil and the increase of oversight of lending and brokering practices. Several other...
Why A Lender Requires An Appraisal Appraisal Basics A real estate appraisal is a key component in a lender’s decision to lend. There are several purposes for completing a real estate appraisal, including to determine: The cost to rebuild the home in case of...
Biggest residential mortgage lenders in Canada The study of Ontario’s demographics is required to develop an understanding of the makeup of the market and its potential from the standpoint of mortgage financing. Mortgage brokers are often the best source of this...
What is Foreclosure? Foreclosure is the process of using the courts to take title to the mortgaged property, thereby extinguishing all rights that the borrower or any other party may have in the property. This process can be time consuming, taking upwards of six...
What Every Mortgage Agent Must Know About A Mortgage Transaction Brokering a mortgage transaction involves several key participants in the mortgage industry. Before the process of brokering a mortgage transaction can be examined, it is important to answer a basic...
Protecting Your Clients From Identity Theft In today’s mortgage market, identity theft and impersonation are a significant concern, making it necessary for the mortgage agent to verify the identity of his or her client at the initial consultation. Regardless of...