The mortgage broker originates a mortgage and contacts each potential investor to receive their verbal interest or conditional commitment to fund the mortgage in whole or in part. In part meaning that there may be several persons participating in the funding of the mortgage as in a syndication. The mortgage broker then collects a complete financial package on each borrower and guarantor including application form, credit information, net worth, credit report, proof of income, property information, property appraisal and creates a detailed investor package with disclosure form for your review and acceptance along with a commitment to fund the mortgage to be signed by the investor and the borrower. The investor can thereby make an informed decision to lend and the borrower and make a decision to take the offer to finance. The process is consumated by the acceptance of both parties and the transaction is forwarded to the lender’s solicitor for closing. The borrower provides either post dated cheques or pre authorized payment to the Lender or Lenders RRSP, whichever applies.

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