Welcome to REMIC’s mortgage and life insurance education blog; your source for licensing tips, industry updates, and professional training insights
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”...
The Canadian government sets the guidelines for default insured mortgages to, in part, manage the housing market, while provincial governments can use other tools, such as taxes. The following summarizes the changes made by governments since the financial crisis...
What is a life lease? Simply stated, purchasing a life lease gives the holder of that lease the right to a property as long as it is in effect, which is typically for the life of the holder. Normally a life lease has eligibility requirements, such as:...
Environmental Site Assessments (ESA) The Environmental Site Assessment (ESA) has become a standard tool for the protection of property investors, owners, and managers, from environmental liability. It is particularly useful prior to a financial transaction...
A career as a life insurance agent If you’re looking for a career that has unlimited income potential, then selling life insurance may be the career for you. The main reason I say this is because Canadians need life insurance, as well as several other types of...
Corporate Life Insurance Over time, the awareness and importance of having a life insurance has been rapidly increasing. You, as an individual can either have a corporate life insurance policy or a personal life insurance policy. Both have their specific pros and...