by Cain Daniel | Feb 25, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Co-Ownership of Real Property Property can be owned by an individual or by several individuals, referred to as co-ownership. Co-ownership occurs in one of two ways: by a tenancy in common or through a joint tenancy. Mortgage brokering in Ontario is...
by Cain Daniel | Feb 16, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, Real Estate Appraisal, REMIC Blog
The Direct Comparison Approach The direct comparison approach in determining the market value of a property is the most appropriate for mortgage financing and is therefore relied heavily upon in the appraisal report. This method uses the principle of...
by Cain Daniel | Feb 11, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
The Financial Components of a Mortgage The basic premise behind every mortgage is the borrower’s promise to repay the amount borrowed. There are several components to a mortgage, as is illustrated in the Standard Charge Terms, but at its core a mortgage payment...
by Cain Daniel | Feb 4, 2015 | Becoming a Mortgage Broker, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
You might think that since the mortgage broker finds the borrower, the lender doesn’t have to pay the costs associated with obtaining that borrower, such as advertising and marketing, having branch offices, etc., and therefore dealing with mortgage brokers is more...
by Cain Daniel | Feb 2, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
What is a high ratio mortgage? A high ratio mortgage is a mortgage that exceeds 80% loan to value. This refers to either a purchase where the purchaser has less than 20% for a down payment or, in a refinancing scenario, where there is less than 20% equity in the...
by Cain Daniel | Jan 28, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Reviewed for accuracy by Joe White Joe White is the Founder and President of the Real Estate and Mortgage Institute of Canada (REMIC), a licensed mortgage broker and Principal Broker, an educator since 1996, and a 2019 inductee into the Canadian Mortgage Hall of Fame....