Online Application: Client and Brokerage Agreement

Integrity

Thank you for choosing DLC – City Wide Mortgage Services to prepare your application for mortgage financing. We are proud to offer a high level of service and it will be our pleasure to lead you through the process. DLC – City Wide Mortgage Services maintains the highest level of integrity: we will never commit fraud or falsify application documents and we expect the same from our clients. You can expect the highest level of professionalism from the team at DLC – City Wide Mortgage Services and feel secure in the knowledge that our advice is given with your best interests in mind.

Confidentiality

Your private information and its security is important to us. Over the course of your mortgage application we will request and be privy to much of your personal information; from SIN numbers to bank account history, from employment verification to company financials. Be assured you can provide your personal information knowing that we will only collect the information necessary to achieve your financing goals. We do not sell your information to a third party. Your information and documents will be stored in a secure encrypted service and all paper documents will be destroyed immediately after they are stored electronically, unless we are required by law or requested by you to retain paper documents. All conversations and notes we make are kept confidential. Note, however, that if we discover illegal, criminal or fraudulent activity, we may be required to report these findings to the appropriate authorities.

Disclosure

We will share the information you provided to us with potential lenders. In addition, we may also discuss aspects of your file with mortgage brokers from within our industry and from time to time may co-broker information to gain access to other lenders, if we feel it would be in your interests to do so. In the absence of specific direction from you not to do so, we will assume these arrangements are satisfactory.

Communication

Purchasing a home and acquiring a mortgage can be a stressful endeavor. The DLC – City Wide Mortgage Services team’s goal is to facilitate much of the hard work for you and guide you through the process of obtaining a mortgage. During the financing process, we will assist you in dealing with appraisers and insurance agents. We will keep you informed throughout the application process, provide weekly progress updates from beginning to end and involve you in all important decisions. Our role through this process is to guide you, the client, through the mortgage financing process and explain the details of the mortgage you aim to register on your home.

At no point are we able to guarantee financing, as we are not the lender itself. You confirm that you understand that we cannot guarantee that we will be able to obtain financing for you and that even if you are Pre-Qualified or a lender commits to financing, we cannot guarantee that the lender will fulfill its Mortgage Commitment to you, particularly if circumstances change after you are approved for financing.

Process

During the underwriting process, we will ask you to provide us with financial documents that many lenders will request before considering your application. Our goal is to Pre-Qualify your application with our knowledge of lending guidelines and rules. If we are successful in arranging financing for you the lender will often deliver a formal Mortgage Commitment. The Mortgage Commitment will provide terms and conditions specific to the Mortgage Funding. Lenders may ask for additional information to determine your credit worthiness before or after providing a Mortgage Commitment. Our goal is to fulfill all the funding conditions in the Mortgage Commitment as quickly as possible, but the precise timing cannot be guaranteed and is often dependent on how quickly documents or information can be obtained from you or from another source.

The Proceeds of Crime (Money Laundering) and Terrorist Financing Act

We are required to advise you that the Canadian federal government has enacted the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “Act”). The Act imposes obligations on our mortgage advisors and staff to report and record certain client transactions.

The Act requires us to report “suspicious transactions” to an agency of the federal government; that is, financial transactions we reasonably suspect are related to the commission of a money laundering offence. Further, the Act prohibits our mortgage advisors and staff from informing clients that a suspicious transaction report has been made, or from disclosing to clients the contents of such a report.

You, should also be aware that under provisions of the Act that are not yet in force, certain authorities may have the power to seize our mail or enter our premises, as follows:

  • the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) will have the authority to enter our firm, without a search warrant, to determine if we are complying with the Act. FINTRAC officials will be able to access our computer and data processing system, examine and copy file information and records and reproduce any information or record; and
  • the Canada Revenue Agency will have the authority to seize, retain and open mail that it reasonably believes contains $10,000 or more in cash or monetary instruments.
  • The Act may require our mortgage advisors and staff to disclose confidential client information, particularly as it relates to the transfer of cash more than $10,000 in one or more transactions.

    Our obligations under the Act are not optional.

    We encourage you to discuss with us any aspect of the above matters.

    Termination of Engagement

    You may terminate this engagement at any time by providing us with written notice of your decision to do so.

    Likewise, we may terminate this engagement at any time by providing you with written notice of our decision to do so.

    We may terminate the engagement for reasons including, but not limited to, the following:

    (a) you fail to cooperate with us;
    (b) you provide us with false, incomplete or misleading information or do not promptly provide us with information we have required from you; or
    (c) you ask us to do something unethical or illegal; or
    (d) we cannot find suitable financing for you despite using our best efforts to do so.

    Compensation

    Generally, the lender pays us a fee for arranging your mortgage. The fee we are paid by a lender varies, depending on the lender and the nature of the financing. We will disclose our fee to you upon request and/or in a disclosure statement we provide to you.

    However, if financing from a private or alternative lender is required, or if construction financing is required, you must pay a fee to DLC – City Wide Mortgage Services to arrange the financing. The fee we charge varies depending on the amount and nature of the financing required. We will disclose our fee to you and obtain your approval of our fee before you enter a mortgage commitment for financing.

    Although our fees are generally paid by the lender, you may have to pay other expenses in connection with the financing we arrange including:

    • Legal fees including, title search, title insurance, mortgage processing, law society fees, disbursements, property transfer tax, Provincial and Federal taxes;
    • Appraisal fees;
    • Strata document retrieval fees; or
    • fees charged by the lender.

    Protection

    DLC – City Wide Mortgage Services may provide you with options for Life Insurance, Critical Illness and Disability to protect your investment and your family. While these insurance policies are not mandatory we prefer to verify that you have adequate coverage in place. Our partners for insurance products include, but are not limited to:

    (a) Mortgage Protection Plan through Manulife; and
    (b) A referral to a qualified insurance agent.

    Agreement

    We rely on the information you provide to us. It is critical that you promptly provide us with the information we request and that all the information you provide to us is truthful, complete and accurate.

    You warrant to us that the information you have and will provide to us in the mortgage application process is and will be true, complete and accurate and that you understand that it is being used to determine your credit worthiness. You also confirm that this application is the entire agreement between us and that we have not made and you have not relied on any guarantee, promise or representation that is not included in this application. You authorize us to obtain any further information we may require from any source (including, for example, credit bureau) from which we may request information and each source is hereby authorized to provide us with the information we request. You also understand, acknowledge and agree that the information given in the mortgage application form as well as other information we obtain in relation to your credit history may be disclosed to potential mortgage lenders, mortgage insurers, other service providers, organizations providing technological or other support services required in relation to this application and any other parties with whom you propose to have a financial relationship.

    By filling out this application, you give us permission to phone/email you in the future to discuss your mortgage needs.

    Dominion Lending Centres refers applications to a network of independent mortgage brokers known as Mortgage Professionals. Mortgage Professionals are governed by the Dominion Lending Centres Mortgage Professional Privacy Policy.

    You can review your personal information held by us and make corrections to it by contacting our Privacy Officer at 604-257-2600. You may be asked to put your request in writing.

    Questions?

    If you have any questions, comments or complaints contact you our Privacy Officer at 604-257-2600.

    By completing this online application, you agree to all conditions stated above.

    It appears you have Javascript disabled! Please enable Javascript, and reload this page to continue with the Mortgage Application, or please contact us by phone at 604-257-2600 (toll free at 1-800-774-8818). Thank-you!

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    Mortgage Application

    To get the banks fighting for your business, please complete the following mortgage application in as much detail as you wish. In order to submit your mortgage application a minimum amount of information is required. For your convenience, this information has been highlighted on the application form. Once completed, your application is electronically forwarded to your local Mortgage Professional who contacts you for a personalized evaluation of your needs and he/she will explain the next steps in the mortgage approval process. It’s that simple!

    Who is your mortgage consultant?
    Purpose of your new mortgage
    pre-approvalpurchaserefinanceconsolidate
    Who you are
    full name birth date yyyy-mm-dd S.I.N. marital status dependants
    applicant (required) (required)      
    co-applicant        
    How to contact you
    home phone work phone fax number email address
    applicant (required) (required) (required)
    co-applicant
    Where you live – (3 year history)
    street address city province postal code how long (years) status
    Present
    Previous
    Previous
    Where your co-applicant lives – (3 year history)
    street address city province postal code how long (years) status
    Present
    Previous
    Previous
    Where you work – (3 year history)
    employer address position how long (years) income/year
    applicant
    $
    $
    co-applicant
    $
    $
    Your net worth
    assets outstanding debts
    description value description balance payment
    savings $ $ $
    checking $ $ $
    bonds $ $ $
    R.R.S.P’s $ $ $
    vehicle type loans
    $ $ $
    $ $ $
    life insurance (csv) $ $ $
    other asset $ $ $
    other asset $ $ $
    Your present home
    landlord/mortgage holder monthly payment mortgage balance home value
    $ $ $
    New property information
    property address property type purchase price down payment/equity closing date yyyy-mm-dd
    Legal information
    solicitor’s firm solicitor’s name
    address city province postal code phone number fax number
    Banking information
    institution branch type of accounts
    Currently a co-signer on another loan?
    yes
    no

    Have you declared bankruptcy within the past 7 years?
    yes
    no

    reason for bankruptcy amount date discharged yyyy-mm-dd
    $
    Additional comments regarding your mortgage application

    APPLICATION AUTHORIZATION