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Policies & Guidelines
Programs
Standard Mortgage
Features
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Rates & Promos
100
You can use me to qualify your conventional variable rate and 1-3 year fixed terms.
What is the 3 year discounted rate?
100
Refinance options for this program are via a second mortgage.
What is the Value Mortgage Program?
100
Lump sum mortgage payments can be made ________ with a minimum of ______ .
What is on any payment date and $100?
100
MCAP's funding ratio calculation includes these 2 types of "A" deals.
What are funded and cancelled?
100
The 5 banks our "Bank on Brokers" campain applies to.
Who are BMO, RBC, CIBC, TD, BNS?
200
These debt servicing ratios apply to any client with a beacon score > 680.
What are no gds/44 tds?
200
I require a minimum 680 beacon and a property located within an area of 25K.
What is Stated Income Program?
200
Our Home Account products allow this payment frequency.
What is monthly?
200
The maximum volume bps I can earn at my current status level.
What is 25 bps?
200
These two promos need to close within 45 days of the commitment date.
What are Value Mortgage and Quick Close?
300
These 4 requirements apply in order to consider financing on a mobile home.
What are owner-occupied, owned land, permanently affixed and full appraisal at all ltvs?
300
On a subject rental property ____ is used for the rental income. Either of these documents will confirm this rental income.
What is an 80% offset? What is a lease agreement or economic rents from an accredited appraiser?
300
True or false ... Clients with a high ratio mortgage can use their skip a payment options anytime throughout the term of the mortgage.
What is false?
300
Our team needs to fund ___ Million to get to the next status level.
What is $16M?
300
"Bank on Brokers" deals pay you an additional __ bps.
What is 5?
400
MCAP will consider this # of acres for the value of property, however total property acres cannot exceed this #.
What are 5 and 50?
400
You can use me if you have been bankrupt, need to payout your CRA arrears or your consumer proposal.
What is the Eclipse program?
400
All MCAP mortgages are _____ and ____ .
What are portable and assumable?
400
This is paid retro active to dollar # 1 as you achieve each status level.
What is the volume bonus?
400
My variable rate client can lock into MCAP's best _____ rates.
What is published?
500
Name 3 types of properties MCAP will not consider for financing.
What are private/native leased land, bare land and age restricted properties?
500
Under this program, MCAP will pay for the legal and appraisal fees. We will also allow clients to cap up to $2,000 onto the existing balance.
What is Transfer/Switch Program?
500
Existing clients who are increasing their mortgage by $10K receive an automatic ___% discount on the penalty and brokers are paid ___% commission.
What are 80 and 100?
500
Buying down rates via MPoints follows this calculation.
What is loan amount/1,000 x # of bps for rate buydown?
500
I am set 2 days prior to funding, without a request, and can be confirmed via professor.
What is rate?