As part of our duty as your mortgage broker, we’ve put together our mortgage disclosure documents for your review and signatures. These forms are used by mortgage brokers to ensure you are fully informed about the terms and conditions of your mortgage. We keep them in our own records to satisfy auditing and compliance requirements. To help streamline delivery and make it easy for our clients to sign and return the documents, we use an e-signature system called AuthentiSign.

Please read below for a brief description of each document in the standard package, explaining what is it and why it’s important.

Mortgage Application, Privacy Agreement and Client Consent

We include your original application details so you can see the personal information we have gathered and shared with your lender. This information may have changed throughout your mortgage – it is just a snapshot based on our original mortgage information gathering. By initialing at the bottom of each page you acknowledge the information is as you provided at the beginning of the mortgage process.

The last page of the application document includes our Privacy Agreement and Client Consent form, which confirms you understand that we keep your information on file for at least 7 years for auditing purposes, that we only share this information as required to lenders when arranging your mortgage and/or with the provincial government if requested, that you are free to request to view this information at any time, and that we receive compensation from the lender for assisting to arrange your mortgage.

Borrower Conflict of Interest Disclosure Statement – Form 10

This disclosure statement is required for all brokered mortgage transactions in BC. It confirms that Mackenzie Gartside & Associates – Select Mortgage, the mortgage broker in this transaction, is working on your behalf as well as the lender’s behalf, and it also discloses that Mackenzie will be receiving a fee from the lender as compensation for arranging this mortgage. It also outlines any relationships between our brokerage and 3rd parties who may be involved in the transaction. Each borrower should sign at the bottom where indicated.

Fixed Credit – Disclosure Statement

This form shows key dates for your mortgage and breaks down how much interest you will pay over the term of the mortgage (called Cost of Credit). If your mortgage has multiple mortgage components, each will have its own Disclosure Statement. It also shows if you are paying mortgage insurance (CMHC or Genworth), and how much, as well as any other fees or costs associated with the mortgage process (if any).

Open Credit – Disclosure Statement

Only included if the mortgage has a Line of Credit component. This form discloses the details of your Line of Credit borrowing account and reflects how much your interest only payments will be if you borrow the full limit. Each borrower should initial at the bottom of page 1 and sign on page 2.

Newsletter Enrolment

We have several newsletter options to help keep our clients informed about mortgages. If you would like to subscribe, please select which newsletters you are interested in receiving and sign to subscribe. If you do not want to receive any newsletters, please sign in the decline section.

Your Feedback Please

Please take a moment to leave us a Facebook or Google+ review, or fill out our online Mortgage Completion Survey. Your feedback is very appreciated and allows us to serve you better in your future mortgage needs.

Once again, thank you for the opportunity to help with your mortgage financing!