by Cain Daniel | Apr 15, 2015 | Becoming a Mortgage Broker, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Private Mortgage Lenders in Ontario Private mortgage lenders in Ontario have always been and continue to be a major source of funds for many mortgage brokers. Until the recent influx of institutional sub-prime lenders into the market, the primary means of...
by Cain Daniel | Apr 13, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Standard Charge Terms Borrower Covenants The Standard Charge Terms is a document that is created by the lender and must be registered with the Director of Titles under the Land Titles Act. Many lenders’ Standard Charge Terms can be viewed...
by Cain Daniel | Apr 3, 2015 | Becoming a Mortgage Broker, Life Insurance Licensing in Canada, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
How to Win a Face-2-Face Client Meeting There are three basic places where a mortgage agent can meet a client: The client’s home The mortgage agent’s office Another outside location. There are several positives and negatives for each location, but it is important to...
by Cain Daniel | Apr 1, 2015 | Becoming a Mortgage Broker, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
The interest only mortgage is straightforward. The borrower takes out a lump sum of money and only repays the interest due each payment period. This means that, throughout the life of the mortgage, the borrower will always owe the same amount of principal....
by Cain Daniel | Mar 30, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
What is a mortgage? According to the Ontario Mortgages Act, R.S.O. 1990 c.M.40 (the legislation that governs mortgages in Ontario), the word mortgage is defined as, “any charge on any property for securing money or money’s worth.” Most consumers would not...
by Cain Daniel | Mar 27, 2015 | Becoming a Mortgage Broker, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
How to apply for your Mortgage Agent License in Ontario Licenses are issued when approved, and are then renewed every two years on a fixed date. For example, March 31, 2012 and each two year period thereafter. Licenses for agents are renewed as long...