TD Canada Trust Reference Guide - Origin Mortgages
嚜縑訕chedule 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?
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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:
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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:
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?
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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 每 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 每 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 每 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) 每 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 每 Process Flow ............................................................................................................ 38
Mortgage Transfer Plan ............................................................................................................................................... 39
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