Tag Archives: what is a mortgage broker?
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 a mortgage broker? A mortgage broker is a practicing professional who assesses a borrower’s financial goals with respect to real estate financing and, after detailed analysis, provides solutions to meet those goals by acting as an intermediary with the appropriate lending source. Mortgage brokers have two clients: the borrower (the individual receiving the […]