General Mortgage Inquiries
Agent Account Setup
855.500.7653 ext 222
Real Estate/General Inquiries
*MCAP deals must be submitted via Deeqa/Sterling, please send SMCP # and documents to Deeqa for smooth submission*
Equity Financial Trust
(416) 763-2291 x 217
You can also submit to any lender we are not signed up with through the Mortgage Alliance Lender Hub. Please contact Justin Rosa at the Lender Hub to submit and with any lender qualification questions.
Underwriter, Lender Hub
The Mortgage Alliance Company of Canada
T: (416) 499-5454 x 227
C: (416) 996-7672
Once you have a complete application in filogix and all associated documents for the deal, complete the underwriting menu found here > http://realestategeeks.net/smcunderwriting/
RealEstateGeeks.net > Mortgage Agents > Underwriting Menu
-Once your application is complete on Filogix, hit Participants on the left hand side menu.
-At the bottom of the screen hit “Co-Broker Now” and put in Justin Rosa (Mortgage Alliance Company of Canada).
-Upload all documents to your client card on Mortgage Boss (hit the paperclip on the bottom right of their contact card to upload and label all documents).
-Email Justin Rosa with your notes and what lender and rate you are looking for and cc email@example.com
A SMAB is a Search Mortgage Approved Broker. These are partners we deal with for tough deals that are non-conforming. Please note they cannot help with credit issues. For any SMAB deal, you must fill out the Underwriting Menu and provide Deeqa with all details. The fee is 1% of the mortgage amount or $5,000, whichever is greater of the two.
-Once you have a completed application and received the necessary documents from the client, fill out the Underwriting Menu.
-UW Menu can be found here > http://realestategeeks.net/smcunderwriting
-Once completed, email Deeqa all information and what you’re looking to accomplish.
-Equitable Bank, Equity Financial Trust and Community Trust are the B lenders we are signed up with at Search Mortgage.
-You should be submitting deals that have a TDS of 44-48% or a GDS over 39-48% to B lenders as they do not fit traditional A lending guidelines.
-Also, clients with bruised credit (a beacon under 620) must be submitted to B lenders.
*Please note for purchases the minimum LTV is 80% (B lenders are uninsured therefore 20% down payment is the minimum).
-Go to realestategeeks.net.
-Select Calendar (third tab on the left hand side)
-Click Book a Boardroom and follow the prompts.
In SMC Gmail search box enter: LENDERHUB.
These emails are sent to the team whenever there are rate changes made and include all lenders rates.
-GDS under 39%
-TDS under 44%
-Maximum amortization is 25 years.
-Minimum beacon 680 for purchase price < $1,000,000 and 620 for purchase price > $1,000,000.
For B lenders, they all have an “Approved Appraisers” list on their website
As of today’s date, December 12th 2017, 4.99%