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Tag Archives: remic

Mortgage Fraud for Shelter

Mortgage Fraud for Shelter Fraud for shelter is one of the most common forms of fraud in the mortgage industry. This type of fraud occurs when an individual wishes to purchase a home in which to reside with no intent to abscond with mortgage funds or fraudulently sell the property by misstating or misrepresenting his […]

seo ranking

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 […]

TOP 6 Pinterest Tips for Business Countdown

The TOP 6 Pinterest Tips for Business Countdown Before we can talk about the best way to use Pinterest, let’s talk about Pinterest. I’ve found that unless we buy into the marketing strategy and feel it’s worthwhile, we won’t put the time and effort into it to make it successful. What is Pinterest and why […]

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 […]

FORD Calls

Mortgage brokers love FORD with good reason

Why Mortgage Brokers Love Ford, and should! It’s true, mortgage brokers love FORD, and with good reason!  Not the car manufacturer, nor Doug or Rob of Toronto’s political scenery.  Although I’m sure many brokers do love their Fords, I’m referring to another kind of FORD, as in the acronym for: F:  Family O:  Occupation R:  […]

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.

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.  […]