SYSTEMS/DISCLOSURES
What is our 3rd party AML disclosure?
"Is this account being opened for the benefit of a third party?"
How many years of earnings history are required for a self - employed client?
Minimum 2 years
I am a Foreign worker, for how many days should my work permit be in active status to qualify for Foreign Workers Program for Mortgages?
183 Days
Which two provinces uses Notary and not there own lawyer to set up the HPP/Mortgage?
BC & QC
How many insurance options are on our Mortgage & PLC product
4 & 2
What system do we use to play recorded disclosures?
WDE
What are the benchmarks for GDSR and TDSR?
39% & 44%
If a client is asking for an increase to their HPP limit and no change to their registered charge amount, you will see the loan note ________ File on the FNF portal screen.
Lite
Existing Balance - $175000, Existing Rate - 3,99%. New Funds - $27600, New Rate - 4.75%. What will be the blended rate?
4.09%
How many borrowers on the mortgage can accept the insurance options
2
What system can I use to see an appraisal request?
FNF Portal
What primary document/s we need for limited company or limited partnership, corporation?
The 2 most recent associated NOAs, from either the federal or Quebec government
On Class Panel_____, Mortgage details page 4, Type N in the third party indicator. Guess the panel #
53
What all does the maximum GDSR calculation include?
total annual amount of principal, interest, taxes and heating, 50% of any applicable condominium fees, plus any leasehold and second mortgage financing on the property
MLI & MCI insurance coverage ends at?
70th Birthday
Who am i? I am a tool that can be used to calculate the maximum mortgage amount a client can borrow?
MLAC
What action should be taken if a client's maternity or parental leave is 18 months or more?
Clients employment income should not be used for verifications
What is the fulfilment time in BC for a Renegotiate an HPP PLC or refinance an HPP mortgage with changes to the collateral charge only (no external real estate–secured payouts)
10 Business Days
What is the fulfilment time for a New HPP on existing property with external real estate secured payouts in Rest of Canada?
18 Business Days
Mortgage Disability and Mortgage Disability Plus insurance coverage ends at?
65th Birthday
Can someone read the inbound voice disclosure for mortgages?
Today's phone conversation.........
What is the set up service fee charge for Alberta for registering a collateral charge?
$769
List all the AML requirements when working on clients HPP/Mortgage applications?
DOB, Home address, Occupation, Employer Name and Address, ID, Intended use of account, Third party determination
What will be Non-Condo – HPP with SPLC only / SPLC limit for a Non Condo based in postal code M1V with a appraised value of $750,000?
$487,500
For a PLC insurance, in excess of what amount the clients have to answer health questions and the insurer will advise if the excess insurance is approved?
excess of $150,000