Personal Lending and Mortgages (PLM)

Topics covered in this section are:

• Reasons why Clients need Credit
  • Definition of Credit
  • Purposes of Credit
• Types of Consumer Credit
  • Revolving Credit
  • Consumer Loans

Topics covered in this section are:

• Complete the Credit Application
  • How to Conduct a Client Interview
  • Components of a Credit Application

Topics covered in this section are:

• Conduct the Credit Investigation
  • Preliminary Investigation
  • The Five Cs of Credit
• Conduct the Credit Assessment
  • Proof of Borrower’s Income
  • Analysing a Credit Report
  • Signs of Credit Risk
  • Risk Management Considerations

Topics covered in this section are:

• Calculate the Costs of Borrowing
  • Calculate the Cost of Borrowing
  • Calculate the Monthly Payment
  • Reduce the Cost of Borrowing

Topics covered in this section are:

• Recommend Credit Products
  • Collateral and Documentation
  • Presenting the Offer
  • Deferred or Declined Offers
  • Guarantors and Co-Borrowers
  • Independent Legal Advice

Topics covered in this section are:

• Legislation And Compliance
  • Consumer Credit Regulations
  • Privacy
• Minimizing Risk Of Default
  • Delinquency
  • Debt Collection
  • Bankruptcy and Credit Counselling

Topics covered in this section are:

• Reasons why Clients need Mortgages
  • Aspects of a Mortgage
  • Why Clients need Mortgages
• Mortgage Terms
  • Types of Mortgages
  • Property Ownership Limitations
  • Sources of Mortgage Funds
  • Legal and Equitable Mortgages
  • Client’s Rights and Liabilities
• Land and Title Registration
  • Registration and Priority
  • Land Ownership Laws and Fees

Topics covered in this section are:

• Complete the Mortgage Application
  • The Mortgage Application Form
  • Accepted Agreement of Purchase and Sale

Topics covered in this section are:

• Complete the Credit Assessment
  • Calculate the Gross Debt Service Ratio
  • Risk Assessment
  • The Appraisal

Topics covered in this section are:

• Conducting the Interim Meeting
  • Matching Needs
  • Methods of Payment
  • Term and Amortization
  • Interest Charges
  • Taxes and Closing Costs
  • Mortgage Prepayment
  • Disclosure
  • Insurance
  • Canadian Mortgage Insurers
• Submitting the Offer
  • Constructing the Mortgage Offer for Submission

Topics covered in this section are:

• Facilitate Mortgage Disbursement and Documentation
  • Instructions to the Lawyer
  • Documentation
  • Disbursement of Funds

Topics covered in this section are:

• Manage Mortgage Default Risk
  • Steps to Minimize Arrears
  • Definition of Default
  • Factors to Consider in Case of Mortgage Default
  • Arrears on Insured Mortgages
• Mortgage Contract
  • Independent Legal Advice

• Standard Mortgage Clauses

• Mortgage Discharges

• Guarantors and Co-Borrowers on a Mortgage

• The Decision to Lend

Topics covered in this section are:

• Core Components of the Mortgage
  • Key Features and Benefits
  • Risks and Fees for Buyer and Seller
  • Conditions for Product Conformity
  • Responsibilities of the Seller and Purchaser
• Required Documents
• Setting up the Mortgage

Topics covered in this section are:

• Core Components of the Mortgage
  • Key Features and Benefits
  • Risks and Fees for the Client
  • Borrowing to Invest
• Setting up the Mortgage
  • Setting up the Mortgage
• Finalizing the Product
  • Allocating Equity Credits
  • Canada Revenue Agency Rules for Consolidated Loans

Topics covered in this section are:

• Core Components of the Mortgages
  • Key Features and Benefits
  • Understanding Conditions of the Property
  • Risks and Fees for the Borrower
  • Holding Companies
  • Required Documents
• Setting up the Mortgages
  • Product Structure
  • Determining a Client’s Suitability
• Finalizing the Product
  • The Client’s Responsibilities

Topics covered in this section are:

• Core Components of the Mortgage
  • Key Features and Benefits
  • Understanding Conditions of the Property
  • Risks and Fees for the Client
• Finalizing the Product
  • Borrower’s Responsibilities for Rural Mortgages

Topics covered in this section are:

• Core Components of the Mortgages
  • Key Features and Benefits
  • Fees
  • Independent Legal Advice
  • Required Documentation
• Setting up the Mortgage
  • Product Structure
• Finalizing the Product
  • Client’s Responsibilities

Topics covered in this section are:

• Disclosure
  • Full Disclosure in the Context of New to Canada
• Core Components of the Mortgage
  • Understanding Status
  • Key Features and Benefits
  • Limitations on the Property
  • Required Documentation for Verification
  • Risks and Fees for the Client
• Setting up the Mortgage
  • Determining Suitability for New to Canada Mortgages

• What About Grow Ops?
  • Introduction to Grow Ops
  • Financing Restrictions
  • Disclosure Requirements
  • Property Declarations

• Legal Substitution
  • Title Insurance