by Cain Daniel | Jan 19, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Unlike a standard mortgage that places a charge on title, a collateral mortgage, which has been around for years but typically only used for secured lines of credit, is a promissory note with a lien on the property for the total amount registered. You can...
by Cain Daniel | Jan 16, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
The purposes of using a mortgage There are traditionally four distinct purposes for using a mortgage: 1) Purchase, 2) Refinance 3) Equity take-outs, and 2) Bridge Financing Purchase People use mortgages to assist in purchasing a home in combination with a down...
by Cain Daniel | Jan 14, 2015 | Becoming a Mortgage Broker, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
What is a mortgage broker? A mortgage broker is a practicing professional who assesses a borrower’s financial goals with respect to real estate financing and, after detailed analysis, provides solutions to meet those goals by acting as an intermediary with the...
by Cain Daniel | Jan 12, 2015 | Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Choosing a mortgage brokerage Choosing a mortgage brokerage for whom to work can be a difficult process if you don’t know what questions to ask or what to look for. With several hundred brokerages licensed in Ontario, you certainly have choice, so the first tip...
by Cain Daniel | Jan 9, 2015 | Becoming a Mortgage Broker, Mortgage Brokering, Mortgage Brokering in Ontario, REMIC Blog
Approximately 30% of Ontario consumers used a mortgage broker in 2010, a number that has remained consistent for the past several years, while 50% used a bank. According to a recent Mortgage Consumer Survey by CMHC, the average mortgage broker’s client had the...
by Cain Daniel | Nov 12, 2014 | Becoming a Mortgage Broker, REMIC Blog
Whether you are switching careers or deciding on your very first career, becoming a licensed mortgage broker can be a fantastic, rewarding choice. Let me begin by defining a mortgage broker’s role, because over the years it has evolved. A mortgage broker (or a...
