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Mortgage Products and Market Service Area
The following mortgages† qualify at best rates:
Residential owner occupiedo Conventional up to 80% LTVo High ratio up to 95% LTV (CMHC/Genworth)
Residential rentalo Conventional up to 75% LTVo High ratio up to 80% LTV (CMHC/Genworth)
Non income qualifier owner occupiedo Conventional up to 65% LTV
Equity lines of credito Conventional up to 65% LTVo Up to 80% LTV for borrowers with PCU conventional mortgage (fixed/variable)o Maximum of $500,000
The following mortgages† are available – please contact us for rates:
Cultus Lake lease lot
Native lease land
Recreational property
Remediated grow‐op
Market Service Area:
Lower Mainland Urban – Abbotsford; Burnaby; Chilliwack, including Sardis and Vedder Crossing;Coquitlam; Delta; Ladner; Langley City and Township of Langley; Maple Ridge; Mission; New Westminster; North Vancouver; Pitt Meadows; Port Coquitlam; Richmond; Surrey; Tsawwassen; Vancouver; West Vancouver, and White Rock
Lower Mainland Rural – Cultus Lake; Yarrow; Rosedale; Agassiz; Harrison Hot Springs; Hatzic, andDewdney
Okanagan Urban – City of Kelowna; Westbank; West Kelowna; Westside; Penticton; Summerland, andVernon including Coldstream, Okanagan Landing and Kamploops
Okanagan Rural – Those communities along the Highway 97 corridor from Salmon Arm to Osoyoos,including Naramata
Additional Information:
Broker applications and supporting documentation to be provided via secure email or fax
To avoid Prospera emails being directed to “spam” or “junk” folders, add [email protected] toyour contacts
Title insurance is required on all mortgages
Appraisals are completed via Brookfield RPS
Cash back is available up to 5% to a maximum of $25,000 (cannot be used as down payment)
Broker may buy down the mortgage rate at a reduced commission
Construction mortgages are excluded from the mortgage broker program
Three month rate guarantee
Properties listed for sale or under active contract are restricted to equity lines of credit
Second mortgages are excluded
Service Standard: Our objective is to provide a turn‐around time of 4 hours or less. Maximum turn‐around time is one business day.
1.877.888.5599 [email protected]
Effective Feb. 2, 2016 † Certain terms and conditions apply and can change without notice
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Mortgage Products and Commissions*
Broker mortgage rates are emailed when changes occur
Broker commissions are paid weekly
Mortgage Broker Volume Bonus*
Overview
Volume is based on fixed, variable rate and ELOC mortgages funded in one calendar year.
Volume bonus commission is paid retroactive to the first dollar funded within the calendar year.
Volume bonus is calculated at the previous year end tier. Tiers increase based on current year’s funding.
For examples below, assume all funded mortgages have 5 year terms…
Example #1
In 2014, a broker sends $12M and earns 95 bps in Tier 2, paid retroactively on all dollars funded in currentcalendar year when Tier 2 was hit.
In 2015, that broker would start earning Tier 2’s 95 bps from the 1st dollar funded. That broker would onlyhit Tier 3’s 100 bps after $15M is sent in 2015.
Example #2
In 2014, suppose that same broker who started at Tier 2’s 95 bps, sends only $8M.
In 2015, that broker would drop to Tier 1 and start earning 90 bps from the 1st dollar funded. That brokerwould only hit Tier 2’s 95 bps after $10M is sent in 2015.
Example #3
Instead suppose that in 2014 the same broker who started at Tier 2’s 95 bps, sends $16M. That brokerwould be paid Tier 3’s 100 bps retroactively after $15M was sent.
In 2015, that broker would start earning Tier 3’s 100 bps from the 1st dollar funded.
1.877.888.5599 [email protected]
Product Commission
1 year closed .50%
2 year closed .50%
3 year closed .60%
4 year closed .70%
5 year closed .80%
5 year VRM .80%
ELOC .30% (on approved limit)
Tier 1 $5‐10 Million
Tier 2$10‐15 Million
Tier 3$15 Million +
BASE BONUS TOTAL BASE BONUS TOTAL BASE BONUS TOTAL
1 year term
.50% .10% .60% .50% .15% .65% .50% .20% .70%
2 year term
.50% .10% .60% .50% .15% .65% .50% .20% .70%
3 year term
.60% .10% .70% .60% .15% .75% .60% .20% .80%
4 year term
.70% .10% .80% .70% .15% .85% .70% .20% .90%
5 year term
.80% .10% .90% .80% .15% .95% .80% .20% 1.00%
ELOC .30% .10% .40% .30% .15% .45% .30% .20% .50%
Effective April 1, 2015 *Rates and terms are subject to change without notice.
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Mortgage Prepayment Options
1. Be mortgage free sooner with up to 20% principal prepayment each year
On each anniversary date of the Interest Adjustment Date (or the date of the first advance of
any portion of the Loan Amount, if there is no interest adjustment date), when not in
default, the Borrower has the right without notice or charge to prepay an amount not
exceeding the specified percentage of the Loan Amount set out in the Loan Agreement. This
prepayment option is not cumulative and unused amounts cannot be carried forward by the
Borrower in future years.
2. Be mortgage free sooner with the ability to increase your regular payment by up to 20% each year
Once in any calendar year, when not in default, the Borrower has the right, by notice in
writing to the Lender, to increase the Periodic Payment Amount in effect by an amount not
exceeding the specified percentage of the Periodic Payment Amount set out in the Loan
Agreement. This prepayment option is not cumulative and unused amounts cannot be
carried forward by the Borrower in future years.
Mortgage Prepayment Penalties
Except as otherwise provided in the Loan Agreement, the Borrower has the right, at any time when not in
default, to prepay the whole or any portion of the principal balance outstanding under the Loan
Agreement without notice, upon payment (without discount, reduction, or deduction of any kind
whatsoever and specifically without any present value discount, reduction, or deduction) of the greater
of:
a. 3 months’ interest on the outstanding principal amount prepaid calculated at the interest
rate in the Loan Agreement or
b. The interest for the period from the prepayment date to the Balance Due Date on the
amount prepaid, calculated at the difference between the:
i. Interest rate in the Loan Agreement, less the
ii. Rate of interest determined by the Lender in its sole discretion to be the
interest rate that would be in effect on the prepayment date if the Lender was
at that time prepared to lend to the Borrower on the same terms (including
prepayment rights) as the Loan Agreement for a term from the prepayment
date to the Balance Due Date
Plus, in addition to a) or b), the unamortized portion of all incentives.
Other Applicable Costs:
Discharge fee: $75.00
Late payment fee: $45.00 (applied 5 days after mortgage payment due date)
Renewal Fee: $85.00
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Prospera Broker Centre Certain terms and conditions apply 1.877.888.5599 and can change without notice. [email protected]
Welcome to Solidifi Values™
Thank you for taking the time to read this document. We appreciate your business and are
looking forward to building our relationship with you.
This user guide is designed to assist you by illustrating the simple steps of signing up with
Solidifi, placing an appraisal order and navigating through the site.
If you have questions or concerns, please contact Solidifi at 1-866-583-3983 or email us at
Solidifi Support hours of Operation:
Monday to Friday from 8AM EST - 8PM EST
Saturday 12PM EST - 4PM EST
How to sign up with Solidifi:
If you don’t already have a user ID, please access our website at https://values.solidifi.com to
complete the New Broker Registration form. You will receive an email confirming your user ID
and password.
Welcome to Solidifi Values™
How to Order an Appraisal Report
1. Once you have logged into Solidifi Values, click on the “Create New Order” tab to
access the order entry screen
2. Enter the Required Information using the ‘Address Search (free text)’ bar.
By using the ‘Address Search’ feature, the required information will automatically
populate in the fields below.
Welcome to Solidifi Values™
3. Select the lender you are requesting the appraisal report for
4. Select your required appraisal service type
Welcome to Solidifi Values™
5. Enter your File Information
Enter the borrower’s first name, last name and loan reference number as required
Select the appropriate Purpose and Service Type Option from the drop down fields
provided
Enter the Purchase Price/Estimated Value and the Mortgage Amounts in the required
fields, this will automatically calculate your LTV ratio
Welcome to Solidifi Values™
6. Notification and Delivery Options
Enter underwriter’s email address in this field in order for the underwriter to be
automatically notified by email when report is complete
7. Appraiser Selection
Click the Select your Appraiser button to enter the appraiser selection screen
The appraiser selection screen will contain a list of appraisers who service the
postal code region of the subject property
The Price column contains the appraiser’s base fee including the Solidifi
management fee. (Please note, appraisers may send additional fee increases
through Solidifi for various reasons i.e. mileage, executive homes, waterfront,
acreage, etc.)
Select your appraiser and then click on the submit button
8. Access Information & Special Instructions
o Supply the contact information of the person that will be granting access to
the subject property
Welcome to Solidifi Values™
o Use the special instructions to request any additional information outside
of the scope of a standard appraisal, for example:
i. Multiple values
ii. Make note of any property issues
iii. Special instructions for Acreages
You may then proceed to confirm and submit your order to Solidifi, if any
information needs to be changed after submitting the order you may contact us
directly to make the required changes.
9. File Attachments
You may upload any electronic copies of documents you wish to send the
appraiser (i.e. Purchase Agreements, Plans & Specs, etc.)
Welcome to Solidifi Values™
Once you have completed all of the required fields in the order entry screen, you
may submit your order and begin the appraisal process. Simply click the “submit”
button.
10. Solidifi Payment Options
Borrower pay by Credit Card:
i. A valid email address must be provided for the Borrower as Solidifi
will send a payment notification email with instructions on how to
complete payment pre-authorization
ii. Brokers should follow up with Borrowers in arranging pre-
authorization to avoid delays with the order
Broker pay by Credit Card
iii. Broker may provide their own credit card details to proceed with
the payment
iv. Broker may provide Borrower’s credit card details to proceed with
payment on Borrower’s behalf.
Please note that Solidifi will not be able to proceed with the Appraisal request
without pre-authorized payment on file. If after 5 business days a payment
authorization has not been made, Solidifi will cancel the order request.
Welcome to Solidifi Values™
11. Fee Increase Requests
Appraisers may send fee increases through Solidifi for various reasons (i.e.
mileage, executive homes, waterfront, acreage, etc.)
Fee increase amounts vary by appraiser
Brokers may accept or decline the request at any time
Click on the “Submit Order” button after verifying Payment Information.
You will receive an Order Confirmation with your Order #
Welcome to Solidifi Values™
If the broker declines the fee increase, please reassign a new appraiser or send
a message Solidifi with direction on how to proceed with the appraisal request