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Real Estate and Mortgage Institute of Canada Inc.
Toronto:
2175 Sheppard Ave E, Suite 307
Mississauga: 1065 Canadian Pl, Suite 203
t: 1-877-447-3642     e: support@remic.ca

Tag Archives: mortgage broker

What You Should Know About Advertising As a Mortgage Broker

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 Bureau of Canada.   Do: Do avoid fine print disclaimers. They often fail to change […]

6 Popular Social Media Platforms – Which Ones Should You Use?

Choosing the Right Social Media Platform For Your Business So everyone’s always talking about social media and it’s benefits, but what you’re really wondering is: Is it worth the effort? Do smaller businesses get attention? How often should I be using it? Which social media platforms are relevant for my business?

Mortgage Agent Guide To A Mortgage Transaction

What Every Mortgage Agent Must Know About A Mortgage Transaction Brokering a mortgage transaction involves several key participants in the mortgage industry. Before the process of brokering a mortgage transaction can be examined, it is important to answer a basic question:

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 a mortgage?

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 necessarily understand that technical definition.  In actuality, a mortgage is evidence of a debt.  […]

What is Mortgage Default Insurance?

What is Mortgage Default Insurance? Mortgage default insurance is an insurance policy between the insurer and the lender that will compensate the lender for losses suffered on an insured loan. It’s important to note that mortgage default insurance does not compensate the borrower. Background The Central Mortgage and Housing Corporation, a Crown Corporation now known as Canada […]

Title insurance – who needs it?

What is Title Insurance? Who needs title insurance?  Anyone who owns a house!  Title insurance is a policy of insurance that provides coverage for the title-related risks associated with real estate transactions.  It is designed to cover the unpredictable or undetectable issues such as forgery, fraud, missing heirs, etc. that can affect rights of ownership.  […]

Before Brokering A Commercial Mortgage Transaction – Read This!

The mortgage market in Ontario can be divided into two major areas of expertise: commercial and residential financing.  Of course, in either specialization there can be sub-specializations.  In other words, a commercial mortgage broker may focus on financing industrial complexes as opposed to apartment buildings.  Likewise, a mortgage broker specializing in residential financing may decide […]

The pros and cons of a fixed rate mortgage

Pros and Cons of a Fixed Rate Mortgage Also known as the partially amortized, blended constant payment mortgage with a fixed rate.  The fixed rate mortgage is the most common repayment plan in Canada today.  This mortgage has several characteristics.  We'll describe each characteristic and then list the pros and cons of this type of […]

Understanding Your Credit Score

Understanding Your Credit Score In understanding your credit score we must first define what it is. The Credit Score is a numerical representation of your current and past credit and can range between 300 (the lowest score representing the worst) and 900 (the highest score representing the best). The scoring model used by Equifax and Transunion […]