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Mortgage Broker News | 01 Dec 2014, 11:17 AM Agree 0
MCAP will soon launch a new mortgage option for its clients, making them the first monoline lender offering a mortgage deal that could spare investors and homebuyers a blow to their credit scores.
  • Gary | 01 Dec 2014, 03:39 PM Agree 0
    This is virtually the same as the Scotia STEP mortgage
  • Ron Butler | 01 Dec 2014, 04:29 PM Agree 0
    The whole point is that this is a program only a bank has offered in the past.

    This is a bank style product from a monoline lender and I am happy to say: Congratulations MCAP!!!

    This is a true benefit to mortgage brokers across Canada.
  • Mortgage Delivery Guy | 02 Dec 2014, 08:50 AM Agree 0
    Great news, much needed & very excited about it.
    Does this comes with Standard or Collateral charges on the property title?
  • Mortgage Delivery Guy | 02 Dec 2014, 08:50 AM Agree 0
    Great news, much needed & very excited about it.
    Does this comes with Standard or Collateral charges on the property title?
  • Mortgage Delivery Guy | 02 Dec 2014, 08:51 AM Agree 0
    Great news, much needed & very excited about it.
    Does this comes with Standard or Collateral charges on the property title?
  • Robbie Ryan | 02 Dec 2014, 12:57 PM Agree 0
    I expect it will come with a collateral charge. I am checking with our regional rep. Huge savings on the penalty compared to Scotia or National. Way to go M-Cap. I expect to see more mono-lines follow suit. I'm still astonished that the likes of First National or Street have not had a similar product.
  • Ron Butler | 02 Dec 2014, 01:04 PM Agree 0
    Just a heads up on the product, this is a very hard program for a monoline to pull off. I am not saying 1st Nat and Street cannot do it, just that it requires a ton of back shop effort and cost. Monolines have to decide where resources need to be applied and both of those very good lenders have a lot on their plates. Thanks again to MCAP for making it happen.
  • Raj Mago | 02 Dec 2014, 04:53 PM Agree 0
    It is similar to National Bank AIO. Gud News for brokers as they have more choice now
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