This week’s case study features a mortgage refinance by an applicant with slow credit after Consumer’s Proposal.
Automated email updates on every XCEED mortgage application
Receive email updates every step of the way with your XCEED mortgage applications.
Effective immediately, you’ll receive milestone updates via email when we:
- Receive your deal
- Approve your deal and send a commitment
- Instruct your deal
All emails will include deal number and the primary applicant’s name.
We continue to enhance our system and process to improve your experience and optimize customer satsifaction. As always, we value your feedback and look forward to a fantastic 2017!
This week’s case study features the purchase of an owner-occupied apartment condo by an applicant with bruised credit.
MORTGAGE INSURANCE PREMIUM RATE CHANGES
EFFECTIVE MARCH 17, 2017Effective March 17, 2017 Genworth Canada and CMHC will implement increases to transactional mortgage loan insurance premiums for 1 – 4 unit owner-occupied properties.
Here’s what it means for insured mortgage applications
- Mortgage loan insurance applications for 1 – 4 unit owner-occupied properties submitted to XCEED on or after March 16, 2017 are subject to the revised premium schedule.
- To be eligible for the current premium rate table pricing, all broker applications for mortgage insurance must be submitted by 11:59 p.m. (ET) on March 15, 2017.
These changes were announced in January by CMHC and Genworth and widely reported by national media. We expect that broker partners will have explained the increased premiums to their clients who are affected.
This week’s case study features the refinance of an owner occupied property by an applicant with bruised credit and seasonal income. Boarding income was also used to qualify.
This week’s case study features the purchase of an owner-occupied townhouse in the GTA. The main applicant has bruised credit.
This week’s case study features the purchase of an owner-occupied home by an applicant with recent slow credit.
This week’s case study features the refinance of an owner-occupied home by applicants with some slow credit after bankruptcy.
Case Study: Refinance to pay-off derogatory credit using income from a non-family member to qualify.
This week’s uninsured case study features the refinance of an owner-occupied townhouse condo to pay-off derogatory credit. We used boarding income from a non-family member to qualify.