Welcome to REMIC’s mortgage and life insurance education blog; your source for licensing tips, industry updates, and professional training insights
During his recent presentation at the CMP Canadian Mortgage Summit 2024, Joe White, founder of REMIC, discussed the growing influence of Artificial Intelligence (AI) on the mortgage industry. AI is transforming tasks like underwriting, customer service, and risk...
In 2024, the landscape of Anti-Money Laundering (AML) regulations has become more critical than ever for mortgage professionals. With the ever-evolving tactics used by criminals to launder money, the Canadian government has tightened its regulations under the Proceeds...
If you are considering a career in life insurance, obtaining the HLLQP (Harmonized Life License Qualification Program) license is the first step. In this article, we will answer the most common questions potential students might have about the HLLQP course. 1. How do...
The life insurance sector is undergoing a dynamic transformation, with women stepping into leadership roles like never before. Back in 2014, women held 20% of executive positions. Fast forward to 2024, and that number has risen to 30%. This isn't just progress—it's a...
REMIC Wins Industry Service Provider of the Year at Canadian Mortgage Awards 2024 We're delighted to announce that REMIC has been honoured with the prestigious Industry Service Provider of the Year award at the Canadian Mortgage Awards 2024! Upholding our commitment...
Private Lending / Private Mortgages Please note: information in this article is not meant to be legal advice on private lending, private investing, private mortgages or any other topic, and is in reference to Ontario only. REMIC is licensed...
What is a monoline lender? A monoline lender is typically a non-bank lender (except Home Equity Bank that provides the CHIP reverse mortgage) that does not take deposits, have store fronts, or provide other non-lending products. Its sole business is lending. Mono is a...
The Ontario mortgage industry, the largest in Canada, has dozens of mortgage lenders for consumers to use, but not all of them are available to consumers without using a mortgage broker. It is important to know who those mortgage lenders are, and the products,...
What is a Permitted Client? For the purposes of Non-Qualified Syndicated Mortgages (NQSMI), a the definition of a Permitted Client is defined in Regulation 188/08, which refers to National Instrument 31-103, Registration Requirements, Part 1 – Definitions. ...
If you think getting a mortgage is as easy as qualifying based on your lender’s mortgage rate, think again! You have to pass a test; A stress test. What is the mortgage stress test? This is what the Office of the Superintendent of Financial Institutions...
How to become a licensed life insurance agent Career as a Life Insurance Agent begins with the HLLQP course (formerly the LLQP course). This is a fantastic industry with literally unlimited income potential. In Ontario there is a straightforward four step process to...
What is Whole Life Insurance? Whole life insurance is a form of permanent life insurance that typically guarantees the premiums, the death benefit, and minimum cash surrender values (CSV) for the policy. It is sometimes referred to as “straight life” or “ordinary”...