A broker’s guide to understanding income verification documents

As a mortgage broker, you need to be able to accurately interpret the information you read in company financials and income verification documents. Your client’s income is key in determining how much credit lenders might extend to them. But not all clients will have an employer letter and pay stub ready to hand over. For […]

Make your deal submission sing using the 5 Cs

Before you submit an alternative deal to your lender, it’s important to dig deep into your client’s story. The more information gathered from your clients, the quicker the process will be. Accelerate your submission and look like a star broker! Lenders analyze deals using the five Cs of credit, so we’ve built some questions to […]

Supporting docs for income proof – Part 2

Please share this article with your clients to help them navigate the mortgage process. For the full 5 part series, comment below and we’ll happily send it to you. Now that the application process (part 1 of this series) is dealt with, it’s time to validate your income to your lender. This means you’ll be required […]

The temporary nature of alternative mortgages

To continue on from last week’s article ‘Reducing client concerns about taking an alternative mortgage’, discussing the temporary nature of alternative mortgages with your concerned clients might be in your best interest. An alternative mortgage is meant to be temporary; it gives your clients time to improve their situation and renew at a better rate […]

Tips for coordinating a smooth income verification

Income and employment history matter… a lot. The Office of the Superintendent of Financial Institutions (OSFI) says income must be “rigorously” verified; however, there are lots of ways your client can prove their income. Here are some tips that’ll help make income verification a breeze with underwriters: For your clients who have confirmable taxed at source income […]

Income documentation

Proving your client’s income can be tricky. We’re here to help you figure it out. Watch our video to learn what kind of documentation your client might need to get their deal done. Then click here for even more helpful information.  

When is Refinancing the Right Advice for your Clients? A Two Part Refinancing Series

Home purchases. Home sales. Check mark. That’s the straightforward business that we all do. Refinancing a property on the other hand can be more complicated. There’s many reasons why your existing or potential clients might need to refinance and they represent opportunities for you to grow your portfolio and strengthen client relationships. Over the next […]

Diversifying with delinquency/default client services

The economy is tough in many parts of the country right now, possibly affecting some of your clients’ ability to make mortgage payments. Mortgage delinquency/default is an incredibly stressful situation where a trusted advisor like you can help immensely. In fact, offering delinquency/default advice is an excellent way to add value to your business, separating […]

Mortgage Financing and the Gig Economy

There is an emerging trend where the concept of a full-time job has been replaced with a series of well paying gigs. It is creating a new market for brokers and challenging lenders to re-define acceptable income sources. This “Gig Economy” is a global trend in employment that blurs the lines of what it means […]