CMP 11.11 Private Lending Guide

LENDING GUIDE MORTGAGEBROKERNEWS.CA

PRIVATE LENDING New mortgage rules will drive even more Canadians to private lenders.

Are you prepared to find new solutions for your clients?

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EQUITY “A” PROGRAM NOW AVAILABLE!

NEW Equity “A” Program!

1st Mortgages up to 80%LTV Rates: 4.25%-6.99%, Lender Fees: 1%-2% Max TDS/GDS – 70%!!!!!

Bankruptcy – 1 day discharged! (no waiting period) Consumer Proposals – Accepted (may be left unpaid – contact your BDM for details) 6mos, 1,2,3 year terms available!

Minimal Credit & Income Requirements!

We are excited to launch our new Equity “A“ program to our broker partners! Change is often feared, but rather it comes with great opportunities. We will rise to any challenge and create a unique solution for your borrower.

Please Contact Your Director of Business Development & Planning for more Details & Submission Instructions: KIMBERLEE FREEMAN Cell: 905 380 3231 | Toll Free: 1 866 996 8226 x210 | Fax: 1 888 688 4988 | Email: newhavenkim@gmail.com

Please Don’t Forget About Our Existing Equity “Z” Program!

If You Have Sufficient Equity… You’re APPROVED! Where’s the property located?

How much is it worth?

How much are the existing mortgage balance(s) and who are they with?

How much do you require and for what purpose?

(Please disclose any mortgage or property tax arrears) 1st, 2nd & 3rd mortgages available! (certain conditions may apply for thirds) NO Formal Income or Credit Requirements!

NO Formal TDS/GDS!

1220 Sheppard Ave East, Suite 206, Toronto, ON M2K 2S5 email: info@newhavenmortgage.com • www.newhavenmortgage.com F.S.C.O. - Brokerage License No. 10588 Mortgage Administrators License No. 11284

F.S.C.O. - Brokerage License No. 10588 Mortgage Administrators License No. 11284

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CONTENTS

PRIVATE LENDING GUIDE PRIVATE LENDER DIRECTORY

02 SPECIAL REPORT

TURBO-CHARGE YOUR PRIVATE MORTGAGE BUSINESS

For motivated brokers, the latest mortgage regulations offer plenty of opportunities to boost your business

t

04 Cross-Canada directory

Locate the lenders who offer financing in your province

06 Private lender index

The pertinent details on 62 of Canada’s private lenders and MICs

06 Featured listings

Find more information on the products offered by select lenders

MORTGAGEBROKERNEWS.CA CHECK IT OUT ONLINE

m M ORTGAGE COR PORA TION

Creative Non-Bank Mortgage Solutions For Commercial Real Estate

When Your Commercial Deal Needs The Right Lender…

Who can provide you with the guidance, skill, knowledge, speed and creativity to over deliver on client needs and demands. We are that Lender. Call us on your next commercial mortgage transaction between $500,000 and $10 million and we’ll prove it!

Land • Land Servicing • Construction • Office • Industrial • Retail • Plaza • Special Purpose • Gas Station • Hotel • Bridge Loans • First Mortgages • Acquisition • Refinance

Call: 416-221-2238 • David Mandel x22 • Skip Walters x25 • Lisa Collis x33 • Paul Labelle x27 Principal Broker First Source Mortgage Corporation (License # 10434) Principal Administrator First Source Financial Management Inc. (License # 12594)

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SPECIAL REPORT

PRIVATE LENDING GUIDE

New rules may turbo-charge your private mortgage business The latest mortgage rules pose new challenges for brokers. But new challenges bring with them new possibility and, according David Mandel, co-founder of First Source Mortgage Corporation, great opportunity.

Here’s how private mortgages can help FOR THOSE of you whose mortgage business relies on prime residential mortgage deals, it’s time to shift some of your focus to private mortgages. If you don’t have a stable of knowledgeable, reliable and timely first and second private mortgage lenders, it’s time to get to know them in support of your business.

The new federal regulatory changes, which went into effect on October 17, mandated the implementation of a tighter ‘stress test.’ The new rules also included provisions to close tax loopholes for capital gains exemptions on principal residence

sales, and proposed the adoption of a new risk-sharing model for lenders.

Unfortunately, these rules were implemented with limited industry consultation, and the effects will be far-reaching. The greatest effect will be to require a huge portion of potential homebuyers to reduce the size of their planned home purchase or be deterred from the pool of homebuyers completely. However, for some, the prospect of decreasing the size of their planned home purchase will simply be unacceptable, and many will look for a private mortgage alternative.

The private side Private lenders are not governed by the same rules as institutional lenders and do not have or require access to default insurance.

Because private lenders shoulder the risk of default and underwrite to various standards of property, credit, income and interest rate risk, their rates are substantially higher than institutional lenders.

Although many private lenders weight equity in the home as the most important lending criteria, the new rules will place a greater responsibility on both private lenders and brokers to better adjudicate

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borrower income. Why? A wise man once told me that anyone can lend money – that’s easy. It’s making sure that the loan gets paid back that requires all the expertise.

Lenders are going to want to know that there is a strong likelihood that their mortgage will in fact be paid back on or before the end of the term. Also, borrowers are usually not well suited to paying high or premium rates on their mortgages for extended periods of time. People best suited to borrow from private lenders are those who may be expecting a wage increase or inheritance in the short term. Unfortunately, this represents a narrow band of new homebuyers and is not likely to characterize your future borrowers.

When private mortgages go beyond their initial term of, say, one or two years, there are added renewal or extension fees, which further increase the cost of borrowing and which your clients need to be made aware of. As it is likely that many new homebuyers will be looking for private mortgage solutions whether or not their income will rise in the near term, mortgage brokers now need to pay even greater attention to disclosure relating to suitability.

Full disclosure The concept of suitability is very broad, and if not presented in your disclosure documentation properly, could leave you and

your brokerage exposed to a potential E&O claim. This takes on added importance in private mortgage situations since the actions of private lenders are not as predictable or well documented as institutional loans.

You should be sure to document your meeting with your borrower and ensure that your disclosure statement confirms

mortgage brokers that strictly lend money on mortgages provided through the broker channel, much like monoline lenders do.

They may also be seen as more predictable.

Unlike a private individual, an organized private lending company is a licensed entity. It operates according to certain and familiar policies and procedures, which

For some buyers, the prospect of decreasing the size of their planned home purchase will simply be unacceptable, and many will look for a private mortgage alternative that you have reviewed the risks of borrowing with the client, suggested that they discuss the terms of the commitment with their lawyer and financial advisors, and that failure to repay the mortgage on time or an extension of the mortgage may cost the borrower additional fees, for which costs are currently unknown and cannot possibly be determined.

You might be able to mitigate the sticker shock of such disclosure by dealing with an organized private lender such as a MIC, mortgage trust or mortgage syndicator.

Organized private lenders are typically

are either outlined in their commitment, or are evident in practice and experience, which you can discuss with them and with your borrower.

No doubt we are in changing times, and there is no better way to deal with change than to be prepared for it.

David Mandel is the president of First Source Mortgage Corporation,a private commercial real estate mortgage lender and syndicator offering flexible term and construction lending solutions, and serving mortgage brokers and agents in southern Ontario.

Small town Equity Lending specialist

Flexible. Creative. Solutions.

For over 30 years, Kokanee Mortgage has been providing equity lending in small towns and rural areas in Western Canada. Now lending in British Columbia, Alberta, Saskatchewan, Manitoba and Whitehorse.

Let’s connect 250 828 2849 | 844 KOKANEE | www.kokaneemortgage.com

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SPECIAL REPORT

PRIVATE LENDING GUIDE

CROSS-CANADA DIRECTORY

Discover the private lending options available in your province

Yukon Kokanee Mortgage

Bayfield Mortgage Professionals Saskatchewan

Canadian Mortgage Inc.

Fisgard Capital Corporation

Fisgard Asset Management Corp.

Kokanee Mortgage VWR Capital Corp.

Kokanee Mortgage

Canadian Mortgage Inc.

Prince Edward Island Atlantic Signature Mortgage & Loan

VWR Capital Corp.

Ontario

Canadian Mortgage Inc.

Canadian Mortgage Inc. First Source Mortgage Corp.

British Columbia Bayfield Mortgage Professionals Blueshore Pacifica Alternative Mortgage Centre Canadian Mortgage Inc. Cove Mortgage Fisgard Asset Management Corp.

Kokanee Mortgage VWR Capital Corp.

Fisgard Asset Management Corp.

Alberta

Magenta Capital Corporation

New Brunswick

Bayfield Mortgage Professionals

New Haven Mortgage Corp.

Atlantic Signature Mortgage & Loan

Canadian Mortgage Inc.

Canadian Mortgage Inc.

Fisgard Asset Management Corp.

Oppono Lending Company Pillar Financial Services

Kokanee Mortgage

Tribecca Finance

VWR Capital Corp.

VWR Capital Corp.

eXPeRts

talk to the experts in private lending

Fisgard is one of Canada’s largest private Mortgage Investment Corporations and a leader in private and alternative lending solutions.

BC to ontarIo

O

Fi Se

Newfoundland & Labrador Atlantic Signature Mortgage & Loan

Manitoba

P

. no lender Fee . Fully open . Interest only payMents

Nova Scotia Atlantic Signature Mortgage & Loan Canadian Mortgage Inc.

asset management corporation

For all deal inquiries contact:

Hali noble t: m: e: w:

866.382.9255 250.480.8883 newdeal@fisgard.com fisgardmortgage.com

Residential • CommeRCial • ConstRuCtion British Columbia Brokerage #X022176 | Alberta Brokerage #MW-1411086 | Ontario Brokerage #12560 Admin #12500

#1

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Private Mortgages

Ontario-Wide

First Mortgages From 5.99% Second Mortgages From 7.99%

Debt Consolidation

Bridge Mortgages

Renovation Financing

Fast & Dependable

Great Service

Brokers Protected

CMI is a private mortgage lender that you can trust. With a focus on residential mortgages, we are able to service loans from $25,000 up to $1M in urban locations, and we offer lending in smaller towns and rural locations for marketable properties as well.

We are a broker focused lender, servicing the mortgage brokerage community. www.canadianlending.ca deals@cmiloans.ca

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SPECIAL REPORT

PRIVATE LENDING GUIDE PRIVATE LENDER DIRECTORY COMPANY

WEBSITE

PHONE NUMBER

COMPANY

WEBSITE

PHONE NUMBER

7 Park Avenue Financial

www.7parkavenuefinancial.com

416-319-5769

IC Savings

www.icsavings.ca

416-784-0200

Aaron Acceptance

www.aaronacceptance.ca

866-434-9992

Kokanee Mortgage

www.kokaneemortgage.com

250-828-2849

Accepted Financial Corporation

www.acceptedmic.com

604-727-6111

KV Capital

www.kvcapital.ca

780-433-1222

AP Capital

www.apcapital.ca

778-328-7401

Magenta Capital Corporation

www.magentainvestment.ca

888-267-1744

Armada Mortgage Corporation

www.armadamortgage.com

888-467-6449

www.mandatemortgage.com

604-731-2899

Atlantic Signature Mortgage & Loan Atrium Mortgage Investment Corporation Bancorp Financial

www.atlanticsignature.com

902-406-1250

Mandate National Mortgage Corporation

www.atriummic.com

416-607-4209

Mid-Island Mortgage & Savings (Qualicum)

www.midislandbroker.com

250-752-6944

www.bancorpfinancial.com

604-608-2717

Mortgage Alliance – The Mortgage Boutique

www.mortgagealliance.com/ themortgageboutique

647-403-3332

Bayfield Mortgage Professionals

www.bayfieldonline.com

604-533-4478

Mortgage Company of Canada

www.mcoci.com

905-886-5352

www.blueshorepacifica.com

604-899-3780

Mortgagequote.ca

www.mortgagequote.ca

866-948-7283

www.chmic.ca

403-278-0249

New Haven Mortgage Corporation

www.newhavenmortgage.com

416-636-0000

www.canadalend.com

905-881-0242

Oppono Lending Company

www.oppono.com

905-886-5352

Canadian Mortgages Inc.

www.canadianmortgagesinc.ca

855-340-8543

Pacifica Mortgage Investment Corporation

www.pacificamortgage.ca

604-899-3799

Capital Direct

www.capitaldirect.ca

800-814-2578

Peace Hill Trust

www.peacehills.com

506-455-3430

Capital West Mortgage

www.capitalwest.ca

604-899-3799

PHL Capital Corp

www.phlgroup.ca

604-575-7408

www.robinsonsgroup.com

613-279-2116

Blueshore Pacifica Alternative Mortgage Centre Calvert Home Mortgage Investment Corporation Canada Lend

Caplink

www.caplink.ca

888-429–0114

Pillar Financial Services

Classic Mortgage

www.classicmortgage.ca

888-869-4912

Pioneer West

www.pioneerwest.com

604-987-1420

www.pogacapital.com

800-919-4410

CMLS Financial

www.cmls.ca

416-646-1005

Poga Capital

Community Trust Cooper Pacific Mortgage Investment Corporation Cove Mortgage

www.communitytrust.ca

800-268-1576

Premier Mortgage

www.mortgagescanada.net

866-470-4404

250-475-2669

Private Lender Inc.

www.myprivatelender.com

403-253-2022

www.covemortgage.com

604-929-8156

Romspen

www.romspen.com

416-966-1100

CYR Funding

www.cyrfunding.com

905-731-1111

Tekamar Mortgages

www.tekamar.ca

800-658-2345

Terra Firma Capital Corporation

www.tfcc.ca

416-792-4700

Tribecca Finance Corporation

www.tribecca.ca

416-225-6900

Unimor Capital Corporation

www.mortgageapprovalhelp.ca

519-255-9505

Verico The Mortgage Leaders

www.petermenicucci.com

877-777-7308

VWR Capital Corp.

www.vwrcapital.com

866-907-5407

www.cooperpacific.ca

Effort Trust

www.efforttrust.ca

416-924-4680

First Circle Financial

www.firstcircle.ca

604-986-3200

First Source Mortgage Corporation

www.firstsourcemortgage.ca

416-221-2238

Fisgard Asset Management Corporation

www.fisgard.com

250-382-9255

Ginkgo MIC

www.ginkgomic.com

416-901-5133

Home Fund Corporation

www.homefund.com

416-696-9866

This list is not a complete directory of Canada’s private lenders and MICs. If you would like to be added to the next list, please contact Trevor Biggs at trevor.biggs@kmimedia.ca.

Featured lender

ATLANTIC SIGNATURE MORTGAGE & LOAN

Lending markets Nova Scotia, New Brunswick, Prince Edward Island, Newfoundland

Niche/focus: Residential, multi-units, renovation and construction, commercial mixed use, land

Maximum LTV: 80% residential in urban core, 65% commercial, 50% land

Products: First and second mortgages

Minimum Beacon: None

Customer type: Consumer, small business, developer, experienced builder

Terms: Typically one year

Property type: Single-family, multiples, large homes, mixed use, condos, land Purpose: Common-sense solution-based lending for bridge financing purposes

Rate type: Fixed Maximum amortization: Typically interestonly Fees: 4% lender fee Preferred loan amount: $50,000 to $5 million

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SPECIAL REPORT

PRIVATE LENDING GUIDE BAYFIELD MORTGAGE PROFESSIONALS

Lending markets British Columbia, Alberta, Manitoba

Niche/focus: Common-sense, equity-based lending on residential properties with some commercial properties on exception

Maximum LTV: 75%

Products: First, second and occasional third mortgages

Terms: One- to two-year terms available with easy renewals (shorter terms available upon request)

Customer type: Salaried, self-employed, holding companies, operating companies, bruised credit, new immigrants

Rate type: Fixed and fully open terms

Property type: Single-family, duplex, townhouse, bare land, construction (draw financing), condos, small acreages, leased land (on exception)

Fees: All fees are fair and negotiable

Minimum Beacon: None

Maximum amortization: 25 to 40 years

Preferred loan amount: Up to $1 million

Purpose: Home purchases, refinance, revenue property, equity take-out, bridge financing, interalia, serviced/raw land, construction/renovation financing, readvanceable line of credit available on select applications

BLUESHORE PACIFICA ALTERNATIVE MORTGAGE CENTRE

Lending markets British Columbia

Niche/focus: Common-sense lending for borrowers with realistic repayment plans

Terms: One to two years for Pacifica; one to five years for Blueshore Financial

Products: First and second mortgages

Rate type: Fixed or floating

Property type: Residential properties

Maximum amortization: Interest-only or 30-year maximum

Purpose: Purchases, refinances, and ETOs Maximum LTV: 75% Minimum Beacon: None; credit reviewed on a case-by-case basis

Fees: 2%; typically split with the broker Preferred loan amount: $100,000 to $5 million; we will lend over $5 million under the right conditions

CANADIAN MORTGAGES INC.

Lending markets Ontario, British Columbia, Alberta, Manitoba, Atlantic provinces (primary and secondary markets)

Niche/focus: Residential owner-occupied, rental, renovation, urban commercial (retail, multi-family, office, medical, light industrial) and prime building lots in urban cities

Maximum LTV: Up to 85% in Ontario major centres; 80% elsewhere; 75% rural

Products: First, second and low-LTV third mortgages

Terms: One year standard, shorter or longer on exception

Customer type: Salaried, self-employed, corporations, good credit, bad credit

Rate type: Fixed

Property type: Single-family, condos, multiple units, mixed-use, multi-income commercial, prime building lots Purpose: Bridge loans and/or debt consolidation, renovation

Minimum Beacon: None

Maximum amortization: Typically interestonly Fees: Case-by-case; minimum $1,000 Preferred loan amount: $35,000 to $1 million

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SPECIAL REPORT

PRIVATE LENDING GUIDE COVE MORTGAGE

Lending markets British Columbia

Niche/focus: Credit challenges/lack of credit, self-employed income, borrowers with multiple properties, blanket mortgages/inter-alia

Minimum Beacon: None

Products: First, second and third mortgages

Rate type: Fixed

Customer type: All

Maximum amortization: Interest-only (amortized payments upon request)

Property type: Single-family residential, townhouses, condo apartments, rentals, small commercial, serviced lots, recreational Purpose: Purchase, refinance, equity take out Maximum LTV: Up to 75%

Terms: One and two years

Fees: First mortgages start at 1% (minimum $2,000); second mortgages start at 2% (minimum $2,000) Preferred loan amount: $25,000 to $1 million; larger loans considered on a case-by-case basis

FIRST SOURCE MORTGAGE CORPORATION Niche/focus: Income-producing, construction, land, retail, industrial Lending markets Ontario (primary and tertiary markets)

Products: Typically first mortgages Customer type: Experienced builders

Minimum Beacon: 600 Terms: One to two years Rate type: Fixed

Property type: Land, industrial, commercial

Maximum amortization: Typically interestonly

Purpose: Bridge financing

Fees: 2% lender fee

Maximum LTV: 70%

Preferred loan amount: $1 million to $10 million

FISGARD ASSET MANAGEMENT CORPORATION

Lending markets British Columbia, Alberta, Manitoba, Ontario, Saskatchewan (as Fisgard Capital Corporation)

Niche/focus: Fisgard is a niche lender that fills the void for conventional, Alt A and B lenders and Canadian mortgage consumers that require ‘outside of the banking box’ mortgage financing. Fisgard is often referred as a C+ and no-fee lender.

Products: Residential first and second mortgages, commercial, construction, mezzanine loans Customer type: BFS, stated income, bruised credit, low-doc, income-challenged, CRA issues, new to Canada, customers requiring bridge/interim financing or short-term financing (up to two years), recent bankruptcy, in foreclosure, in consumer proposal, builders (including owner-builders), and commercial borrowers Property type: Residential (owner-occupied, rentals, recreation/vacation, student housing), construction (single-family, multi-family, renovation), commercial (retail centres, offices, mixed use, fully tenanted industrial, condo inventory, lot inventory)

Maximum LTV: 75% (up to 85% on exception) Minimum Beacon: None Terms: No lender fees (residential), fully open, up to two years Rate type: Residential first: 7% to 8.85% (up to 75%); residential second: 9.85% to 12.85% (up to 75%); construction: 8.5%+; commercial: 7%+ Maximum amortization: Most are interest-only but can be amortized up to 40 years Fees: Residential: no lender fee, no renewal fee (on first renewal and if paid as agreed), no prepayment penalties (fully open); construction: 2%; commercial: 1%+ Preferred loan amount: $30,000 to $5,000,000 (will participate in larger loans)

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KOKANEE MORTGAGE

Lending markets British Columbia, Alberta, Saskatchewan, Manitoba, Yukon

Niche/focus: Smaller towns and rural lending

Minimum Beacon: None

Products: First and second mortgages

Terms: One and two years

Customer type: Non-bank-qualified

Rate type: Fixed

Property type: Single-family, multi-family, rural acreages and small commercial

Maximum amortization: 25 years Fees: 1% to 3%

Purpose: Short-term (one- to two-year) financing solutions

Preferred loan amount: $50,000 to $750,000

Maximum LTV: 70%

MAGENTA CAPITAL CORPORATION

Lending markets Eastern and Southwestern Ontario, primarily urban settings (full city limits plus 10 kilometres)

Niche/focus: Owner-occupied properties, single and multi-unit rental properties, student rentals, commercial, mixed use, construction, renovation loans and raw land

Maximum LTV: 85% Minimum Beacon: None Terms: One to two years

Products: First and second residential mortgages, renovation loans, seasonal properties, lot and land, equity lending, ‘no-doc’ and ‘stated income’ products

Rate type: Fixed

Customer type: Self-employed, salaried, bruised credit, new to Canada, nontraditional income sources – anything that falls outside of regular bank parameters Property type: Single-family, multi-use residential, large homes, apartments, condos Purpose: Purchase or refinance; bridge lending available

info@atlanticsignature.com | 902.406.1250

Maximum amortization: 40 years; interestonly available Fees: Generally a 2.5% lender fee for first mortgages; 3% for second mortgages and raw land. We always cap our fees, and fees could change with any rate/product specials we have Preferred loan amount: Residential properties up to $750,000; no minimum loan amount, but a minimum fee on our second of $2,000

YOU DON’T HAVE TO BE A

WIZARD

ED

APPROV

TO GET YOUR DEAL DONE. Residential & Commercial Financing Short-term lending solutions for Atlantic Canada’s major urban and rural communities.

From $50,000 to $5,000,000

Call us today: 902.406.1250

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SPECIAL REPORT

PRIVATE LENDING GUIDE NEW HAVEN MORTGAGE CORPORATION

Lending markets Most Ontario locations

Niche/focus: Equity lending based on the marketability of the real estate (location/value/ condition/LTV) Products: First, second and third mortgages Customer type: Income- or credit-challenged Property type: Most property types, including but not limited to single-family homes, low/highrise condos, rentals, raw residential land, small commercial, cottages/island properties, student housing and some specialty properties Purpose: Refinance or purchase (bridge or blanket options are available)

Minimum Beacon: N/A Terms: Six months to one year (two-year term on exception basis) Rate type: Fixed Maximum amortization: Up to 30-year amortization or interest-only (pre-paid options are available if there is sufficient equity) Fees: First mortgages: 1% to 3%; second/third mortgages on a case-by-case basis (subject to loan amount and overall marketability risk) Preferred loan amount: $10,000 to $3 million

Maximum LTV: First mortgages up to 80%; second/ third mortgages up to 85% (residential in major urban centres)

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OPPONO LENDING COMPANY

Lending markets Ontario (GTA and Golden Horseshoe)

Niche/focus: Residential, construction, commercial

Rate type: Fixed; principal and interest or interest-only

Products: First and second mortgages, construction, commercial

Maximum amortization: 25 years

Property type: Single-family dwellings

Fees: Starting from 2.5%

Purpose: Purchase, refinance, equity take-out, debt consolidation, low doc

Preferred loan amount: $25,000 to $1.75 million

Maximum LTV: 80% (85% in the GTA) Minimum Beacon: None Terms: One to two years

Reputable Lending Company Common Sense Lending Competitive Pricing Same Day Approval Quick and Hassle-Free Closings Renewal Options Available Great Service DISCOVER THE LEADERS IN ALTERNATIVE LENDING!

DOES YOUR LENDER QUALIFY?

It’s time for a new perspective.

TM

www.tribecca.ca | 416.225.6900 Licence # 12225

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SPECIAL REPORT

PRIVATE LENDING GUIDE PILLAR FINANCIAL SERVICES

Lending markets Ontario

Niche/focus: Residential, construction, rural, self-employed, bruised/damaged credit, cottage, agricultural

Maximum LTV: 80 %

Products: First mortgages

Terms: One to two years

Customer type: Those who do not meet the typical lending criteria of most lending institutions

Rate type: Fixed

Minimum Beacon: No minimum

Property type: Single-family residential, multiples, large homes, second homes, rural properties with well and septic, new construction

Maximum amortization: 30 years Fees: 2%, with 80 bps to broker on every deal Preferred loan amount: $100,000 and up

Purpose: Ensuring the long-term financial wellbeing of the borrower by providing solutions in an ever tightening market. Short-term solutions for long-term success

675 Cochrane Drive, Suite 104, West Tower, Markham ON, L3R 0B8

W: 905-886-5352 F: 905-886-5974 info@oppono.com www.oppono.com License # 11887/12558

OPPONO IS A NON-TRADITIONAL MORTGAGE LENDER. WE UNDERSTAND IT CAN BE FRUSTRATING DEALING WITH TRADITIONAL LENDERS AND INSTITUTIONS. We are able to help your clients secure the mortgages they want, when they want. If the deal makes sense, we will fund it.

First and second mortgages on residential homes and condominiums* Loan-To-Value ratio driven Dedicated, broker-focused Business Development Manager ready and willing to close your deals No retainer fees 24 hour turn-around time Ajay Kaith BDM

ajay.kaith@oppono.com 416-669-9274

*First mortgages on condominiums.

Downtown Toronto core only.

Contact our BDM for details.

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CMP 11.1

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MORTGAGEBROKERNEWS.CA ISSUE 11.09 | $12.95

THE SCOOP ON PRIVATE LENDING What brokers need to know to tap into this ever-expanding segment HOW TO BREAK INTO COMMERCIAL MORTGAGES A step-by-step case study for brokering your first commercial deal

BROKERS ON LENDERS Which lenders won over brokers this year with stellar service, rates, support and technology?

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and technology? with stellar service, rates, support Which lenders won over brokers this year

VISIT US TO LEARN MORE ABOUT YOUR GO-TO LENDERS BROKERS ONPUBLICATION AND WEBSITE. INDUSTRY commercial deal for brokering your first A step-by-step case study COMMERCIAL MORTGAGES HOW TO BREAK INTO

WWW.MORTGAGEBROKERNEWS.CA ISSUE 11.09 | $12.95 MORTGAGEBROKERNEWS.CA

ever-expanding segment know to tap into this What brokers need to PRIVATE LENDING THE SCOOP ON

today's market to staying competitive in The tech-savvy broker's guide THE LATEST TECH TOOLS

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SPECIAL REPORT

PRIVATE LENDING GUIDE TRIBECCA FINANCE Niche/focus: Residential and construction financing Lending markets Ontario

Minimum Beacon: None Terms: One month to two years

Products: First and second mortgages, construction mortgages, unsecured personal loans

Rate type: Fixed

Customer type: All

Maximum amortization: 40 years, interest-only available

Property type: Single-family, townhouses, condos, multi-unit, building lots

Fees: 2% to 4%

Purpose: Purchase, refinance, equity take-out, bridge financing, construction

Preferred loan amount: $10,000 to $1,500,000

Maximum LTV: 85%

VWR CAPITAL CORP. Niche/focus: Residential Lending markets British Columbia, Alberta, Saskatchewan, Manitoba, Ontario

Products: First, second and third mortgages Customer type: Individuals, holding companies, operating companies, non-residents and more Property type: Single-family, townhouses, condos, row homes, serviced land, raw land, multi-family Purpose: To finance borrowers who may not qualify at traditional institutions Maximum LTV: 75%

Terms: One-year term – open mortgages available Rate type: Fixed Maximum amortization: Up to 35 years; interest-only available Fees: Starting from $750 for first mortgages, $500 for second and third mortgages Preferred loan amount: $25,000 to $2.2 million

Minimum Beacon: None

Competitive Rates & Terms on 1st, 2nd and 3rd mortgages on most across Competitive Rates & property Terms ontypes 1st, 2nd andBC 3rd mortgages on most property types across BC Celebrating our 40th year of providing private mortgage solutions Celebrating our 40th year of providing private mortgage solutions Heather Briglio President, Underwriter Heather Briglio 604-929-8156 ext 15 President, Underwriter heather@covemortgage.com 604-929-8156 ext 15 heather@covemortgage.com

Lorie Martin Manager, Underwriting and Sales Lorie Martin 604-837-5889 Manager, Underwriting and Sales lorie@covemortgage.com 604-837-5889 lorie@covemortgage.com

Carly Erickson Broker, Underwriting Assistant Carly Erickson 604-929-8156 ext 14 Broker, Underwriting Assistant carly@covemortgage.com 604-929-8156 ext 14 carly@covemortgage.com

Direct submissions to cove_mortgage@telus.net | Visit us at www.covemortgage.com to learn more Direct submissions to cove_mortgage@telus.net | Visit us at www.covemortgage.com to learn more

16 www.mortgagebrokernews.ca

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Credit  Income  Debt Servicing  Title Issues  Down Payment  Immigration Status

Proudly suPPorting the brokerage community for over 22 years

SIMPLE, FAST, FRIENDLY, DONE. To discuss a potential file to see if it’s a good fit with Magenta’s programs, to learn more about how Magenta can support your sales goals:

Dan Pauls

Regional Manager Cell: 519 500 3330 dan.pauls@magentainvestment.ca

Serving Ottawa, Kingston, Gatineau, London, St.Thomas, Brantford, Cambridge, Guelph, Kitchener-Waterloo, Woodstock and surrounding areas.

Greg Delahunty

Regional Manager 613 230 5014 xt 309 greg.delahunty@magentainvestment.ca

Gatineau • Ottawa •

Kingston •

Guelph • Kitchener-Waterloo • Cambridge • Woodstock • Brantford • London • St.Thomas •

Contact us at

brokers@magentainvestment.ca 580 Terry Fox Drive, Suite 401, Ottawa ON, K2L 4B9

Specializing in first mortgages, second mortgages, and raw land.

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