Mortgage
How much of the payment goes to principal once a variable mortgage hits the trigger rate with no payment adjustment?
0$
Where can you find the Home branch for an HRLC ?
- inquiry -> account at a glance (responsibility center)
- SN ->account admin -> branch account ownership
We can change a mortgage funding account on MDIF, as long as which single condition is met ?
That we are adding a BMO funding account.
This person is more likely to order the same thing at the restaurants
Abdul
Where can you find the annual statement on MDIF ?
2.6
What terms are not available for an HRLC ?
- All open terms
- Convertible
When is the consent of all coborrowers necessary before being able to key in a renewal ?
- During a separation/divorce.
- Client says they are not authorized to speak on behalf of all holders.
If we were both at a party, this person is more likely to speak to everyone in the room
Joey
There are 5 conditions a commercial MDIF mortgage must respect for VMR to be able to renew. Name 2.
- under 5 units
- Servicing unit (3946 or 3707)
- Applicant type
- Renew with one of the individuals appearing on 4.1.4 that matches roles
- security type 1st mtg.
The client can continue using their revolving portion even after paying off their instalment, under what condition ?
That they do not discharge the loan.
When doing a frequency/payment change (excluding during a renewal), under what condition will the system prevent you from keying changes ?
A pending transaction
This person is more likely to rewatch the same movies/shows rather than new ones
Joey
Client says they did a refinance on their current mortgage and want their annual statement of 2024. On which MDIF screen can you find the old mortgage number ?
2.1.4
- VMR/personal lending/branch
- Recurring voluntary payments
How many days must pass before email authentication can be used at second level?
30 days
If both of us say "im only staying for an hour", this person is more likely to still be there 4 hours later.
Abdul
What condition/information do we need to validate when discussing an MCA withdrawal, to determine if the rate will be affected or not ?
IAD or last renewal date. (on or after November 1, 2024 = a blended interest rate /130-14.06)
What is the termination age on a grandfathered IHRLC ?
no termination age.
Once you've cancelled the insurance for a client, what is the date and time that the request will be effective ?
Same day at midnight.
He always buys 2 pairs of the same shoe.
Joey