by Cain Daniel | Jul 13, 2023 | Mortgage Brokering, REMIC Blog
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...
by Cain Daniel | Jul 3, 2023 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
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,...
by Cain Daniel | May 2, 2023 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
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. ...
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 | Nov 2, 2021 | Life Insurance Licensing in Canada, REMIC Blog
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...
by Cain Daniel | Sep 29, 2020 | Life Insurance Licensing in Canada, REMIC Blog
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”...