by Cain Daniel | Feb 10, 2022 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
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...
by Cain Daniel | Jun 28, 2020 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
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...
by Cain Daniel | Jun 3, 2020 | Life Insurance Licensing in Canada, Mortgage Brokering, REMIC Blog
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:...
by Cain Daniel | May 27, 2020 | Mortgage Brokering, REMIC Blog
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...
by Cain Daniel | Nov 15, 2017 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Expropriation According to section 1 of the Expropriations Act, expropriation means “the taking of land without the consent of the owner by an expropriating authority in the exercise of its statutory powers”[i]. Considering that land ownership is a...
by Cain Daniel | Sep 4, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Here are some Do’s and Don’ts for advertising your mortgage business When a brokerage is developing policies and procedures that ensure its public relations materials are compliant, it may wish to include some of the following advertising tips from the Competition...