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...
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 | 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 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...
