TD Canada Trust Reference Guide - Origin Mortgages

¡°Schedule A¡±

Broker Information Kit

TD Broker Services, the name you

can trust!

We are a national mortgage lender that is dedicated

to service excellence. Our selection of competitively

priced mortgage products are designed to help

brokers develop mortgage solutions that address

their clients¡¯ unique borrowing needs.

Last Updated: 10/09/2014

TD Broker Services,

the name you can trust.

Our Value Proposition

We are a national mortgage lender dedicated

to service excellence. Our competitively-priced

mortgage products are designed to help brokers

develop mortgage solutions that address their

clients¡¯ unique needs. We provide helpful,

knowledgeable and professional Regional Sales

Managers who work with brokers to help grow

their business.

Why TD?

We are a recognizable brand, known by our

professionalism and our award recognized

service culture, that you and your client can

trust. Our largest retail distribution network

works convenient hours to serve you and your

clients better.

The TD logo and other trade-marks are the property of The Toronto-Dominion Bank or a wholly-owned subsidiary, in Canada and/or other countries.

TD Broker Services,

Contact Points

Who do you call?

?

?

?

Documentation is to be sent via email to tdpcmbrk@. Alternatively you may send documentation to the

appropriate fax number as indicated on the Commitment. Please contact your Broker RSM if you have any questions.

Appraisers must now send their report to TD.NASBroker@.

All files must be complete 10 business days to close to ensure a seamless closing transaction for you and our

mutual customers.

TD Regional Sales Manager:

IMAC Team Manager:

?

?

?

?

?

?

?

Conditional on Financing (COF)

General policy and product inquiries

Rush requests

Service concern

Decision appeal

Document compliance appeal

Communication delay with IMAC

IMAC Underwriter:

IMAC Credit Assistant:

?

?

?

?

Assistance with a credit application that has

been submitted

Concerns with the conditions/terms of approval

Declined credit requests

Discuss a document status

update

TD Broker Information Kit

Table of Contents

Referral Fee Program ....................................................................................................................................................7

Indirect Mortgage Adjudication Centre(s) .......................................................................................................................8

Automated Property Valuation (APV) .............................................................................................................................8

TD ¡°Know Your Customer¡± Guidelines ...........................................................................................................................9

Privacy ......................................................................................................................................................................... 11

Third Party Determination ............................................................................................................................................ 11

TD Lending Policy Guidelines ¨C Mortgages ................................................................................................................. 12

Amendments to Mortgagor/Guarantor(s)................................................................................................................. 12

Amortization ............................................................................................................................................................ 12

Appraisals (excluding Quebec)................................................................................................................................ 12

Bankruptcy Policy .................................................................................................................................................... 12

Branches ................................................................................................................................................................. 12

Third Party and Broker Buydowns ........................................................................................................................... 13

Channel Protocol ..................................................................................................................................................... 13

Cost of Borrowing .................................................................................................................................................... 13

Co-Applicants, Guarantors & Spousal Consent....................................................................................................... 13

CMHC/Genworth Insurance Disclosure ................................................................................................................... 14

Debt Servicing ......................................................................................................................................................... 14

Income Confirmation ............................................................................................................................................... 14

Laneway Homes (Under Appraisal Policy) .............................................................................................................. 16

Leased Land............................................................................................................................................................ 16

Minimum Mortgage Amount .................................................................................................................................... 17

Mortgage Loan Agreement ...................................................................................................................................... 17

NHA Loans ¨C High Ratio Loans............................................................................................................................... 17

Payment Frequency ................................................................................................................................................ 18

Power of Attorney .................................................................................................................................................... 19

Prepayment Options................................................................................................................................................ 19

Product Availability .................................................................................................................................................. 19

Eligible Products...................................................................................................................................................... 19

Product Changes..................................................................................................................................................... 20

Property Criteria ...................................................................................................................................................... 20

Property Taxes ........................................................................................................................................................ 20

Purchase/Refinance Plus Improvements ................................................................................................................ 21

Purchase Incentives ................................................................................................................................................ 22

Purposes ................................................................................................................................................................. 22

Qualifying Rate ........................................................................................................................................................ 23

Rate Hold Policy ...................................................................................................................................................... 23

Restricted Properties ............................................................................................................................................... 23

Sanctions................................................................................................................................................................. 25

Application Handling................................................................................................................................................ 25

Security Position...................................................................................................................................................... 25

Sliding Scale for Conventional Mortgages ............................................................................................................... 25

Solicitor Dual Representation .................................................................................................................................. 26

Square Footage Minimums ..................................................................................................................................... 26

Standard Approval Conditions ¨C Mortgages ............................................................................................................ 26

Title Insurance ......................................................................................................................................................... 27

Well Water and Septic Certificates .......................................................................................................................... 27

Down Payment and Closing Costs .......................................................................................................................... 27

Entering SIN Information ......................................................................................................................................... 31

Bridge Financing .......................................................................................................................................................... 31

GST/HST ..................................................................................................................................................................... 32

Business for Self (BFS) ¨C Conventional with Traditional Income Confirmation ............................................................ 32

New Immigrants - Conventional ................................................................................................................................... 34

Insured New to Canada Policy (No Established Canadian Credit History)................................................................... 34

In-House Registration Program .................................................................................................................................... 36

TD Broker Mortgage Program ¨C Process Flow ............................................................................................................ 38

Mortgage Transfer Plan ............................................................................................................................................... 39

5

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download