Real Estate and Mortgage Institute of Canada Inc.
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Author Archives: Cain Daniel

Property Value Fraud

Property Value Fraud The Appraisal Property value fraud can occur when criminals, in association with a dishonest appraiser, may have a property appraised at a higher value than it is worth. The criminal will then obtain a mortgage based on the inflated value and abscond with the money. This results in the lender taking possession […]

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Property Insurance in Canada

What is Property Insurance? Property insurance is a policy of insurance that provides coverage for the homeowner against covered risks. Why is it necessary? Basic insurance to cover the replacement of the building (normally the house) and other structures on the property is vital to lenders and is a requirement of the Standard Charge Terms. […]

5 Steps in Fraud Prevention

5 Steps in Fraud Prevention It is of vital interest to both the integrity of the mortgage brokerage industry and the mortgage industry as a whole that mortgage fraud be prevented whenever possible. As criminals use more sophisticated methods of committing fraud it is becoming much more difficult for mortgage agents to identify It is, […]

7 Advertising Techniques Brokers Should Avoid

7 Advertising Techniques Brokers Should Avoid Brokerages must be keenly aware of the definitions of the terms used in this Regulation, especially in this climate of financial turmoil and the increase of oversight of lending and brokering practices. Several other jurisdictions have already deemed phraseology currently used by some Ontario brokerages as deceptive or misleading. […]

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How Strong is Your Web Presence? SEO Myths Debunked!

Chances are, you’ve heard some hype about search engine optimization (SEO) and you appreciate the importance of being visible online. You’ve familiarized yourself with internet marketing, and you’ve created a website to help bolster your personal brand as a mortgage broker. The question is, how well is this working for you? Why is Search Engine Optimization […]

6 Tips for Generating Leads with Database Marketing

6 Tips for Generating Leads with Database Marketing One of the biggest misconceptions we hear in this industry is that data-based marketing is primarily used by large businesses with massive databases. This is simply not true. Regardless of the size of your business, data-driven marketing can become an irresistible vehicle for generating leads and closing […]

The Art of Differentiation

The Art of Differentiation The art of differentiation comes in a variety of forms. In the mortgage industry it is important to understand that most lenders and mortgage brokerages are offering the same product: money. Since the consumer sees the product as virtually identical between brokerages and lenders, it is necessary to develop a marketing […]

What is Mortgage Creditor Insurance?

What is Mortgage Creditor Insurance? There are two types of mortgage creditor insurance. The first is typically a life insurance policy provided to a borrower by an institutional lender. The second is a life insurance policy provided to a borrower through a third party, such as the Mortgage Protection Plan (MPP), that is not affiliated with an […]

Private Mortgage Lenders in Ontario

Private Mortgage Lenders in Ontario Private mortgage lenders in Ontario have always been and continue to be a major source of funds for many mortgage brokers.  Until the recent influx of institutional sub-prime lenders into the market, the primary means of financing for borrowers who were declined by banks, trust companies, and credit unions was […]

Interest Only Mortgage

Interest Only Mortgage 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.