Mortgage Documents
If a mortgage broker or mortgage lender is doing their job correct, they should be requesting and reviewing certain mortgage documents to confirm the validity of each and every mortgage transaction.
At Canada Mortgage Choice, we follow a strict protocol for all of our clients. We ensure our clients information is safe and secure and do what ever we can to maintain our clients security and do our part to prevent ID theft. "If you were a broker, you would do what it takes to protect your clients best interest too."
Before we do a credit check on any of our clients, we get permission by way of aCredit Authorization form signed and dated. Once the form is completed, it allows Canada Mortgage Choice to check your credit and safely forward your information to our lenders.
We follow the rules and regulations of RECA by way of disclosing to our clients how we get paid as mortgage brokers and what costs (if any are attached to the mortgage being applied for) are associated with the mortgage requested and our relationship between client, associate and lender. the two form's we require our clients sign and date is the Compensation Disclosure and the Relationship Disclosure
Being an active member of CAAMP, we are required to help prevent mortgage fraud by way of ensuring to our lenders we know who we are working with. CAAMP requires us to have every client sign and date a Fraud Avoidance form as well provide three pieces of identification in the clients name as per the fraud avoidance form: one piece in each column (see form for acceptable ID types).
For every mortgage applied for, not only does credit help qualify you, but employment and income verification, down payment verification (if a purchase), and the subject property needs to be properly reviewed by the lender in order to allow them to fully fulfill their mortgage commitment to you.
Most mortgage transactions will require the following documents from the client:
At Canada Mortgage Choice we try to make every mortgage transaction go smooth and also maintain your security and privacy.
