We match between lenders and borrowers.
The process:
1) A borrower or a mortgage agent can apply for a mortgage here http://lendersmatch.ca/database-create/
2) We will review your information and one of our licensed mortgage specialists will send you an email with the required documents.
3) When we have the complete file, we underwrite and do a risk assessment, then we will send the deal scenario to potential lenders based on their lending criteria.
4) Lenders will be able to review the application and notify us when they find a deal suitable for their risk and lending criteria.
5) We send a LOI to the borrower, and when we get the signed copy back, prepare the file for closing.
The process for lenders:
1) Lenders can select their lending criteria, loan amount, the LTV, the location(s) and other lending criteria here http://lendersmatch.ca/lender-information/
2) One of our licensed mortgage specialists will contact you to verify the information, and you will be added to our database.
3) When we get an application, we screen and underwrite the mortgage to verify if it is the right deal for us. After the underwriting process, we find the right lender(s) that can fund the deal based on the lender’s lending criteria, we will send the right lender(s) the deal summary in order for the lender to do his/her underwriting and risk assessment. we will send you mortgage opportunities
Lenders get to review pending mortgage applications You as a private lender make your own credit decisions
4) When the lender finds a deal s/he would like to invest in, the lender notifies us, and we will send you the closing documents.
The process of the closing documents
1) When a lender notifies us that s/he wants to invest in a deal, we will send the lender a commitment to invest in the deal. (after the lender notifies us what documents and information are required to close the deal).
2) When the lender committed to invest in a deal, we will send the borrower a LOI that structures the terms and conditions and other documents we require.
3) When we get the signed LOI back along with the requested documents, we will send it to the lender, and with the lender’s approval (satisfactory) we will send the client a final commitment.
4) When the client returns the signed commitment, we will send all the information to the lawyer.
5) We are going to administrate the mortgage.