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Mortgage Professionals

The brokerage house starving for dedicated, loyal professional to join with brokerage house. The house offers best compensation in the industry. There is friendly environment and principal broker is available for any question during the association. Please contact to become team member .

Please see below requirements and general terms and conditions.

REQUIREMENTS

  1. Resume
  2. current DATED credit bureau report or signed consent as per attached
  3. Signed contract
  4. Fees paid receipt to my business account or email transfer
  5. Agent Licensing certificate and Copy of FSCO online Registration(for existing agents)
  6. Photo ID(DRIVERS LICENCE+SIN)
  7. Copy of void cheque to make payment of commission online
  8. If existing agent copy of resignation letter and acceptance by the existing brokerage house or relieve letter OR a copy of an email sent for resignation to existing brokerage house.
  9. Current color picture(Head shot)
  10. We will take out money from his/her commission for IMBA membership from 1st

EXPLAINATION:

  1. Contract will be forwarded once the signed consent received or current dated credit bureau provided(Reason to obtain is that applicant is serious to become an agent)- forwarded herewith
  2. Please find following link for FSCO licensing fees -For New and relicensing

http://www.fsco.gov.on.ca/en/mortgage/Pages/fee_schedule.aspx

  • E&O Fees $400 for 2 years

 

Terms And Conditions (Subject to Change to individuals):

  1. Subject to the independent Agent’s (wherever the term “consultant”, or “mortgage consultant” or “mortgage agent” are used in this Schedule A, they shall be deemed to include any company that provides mortgage brokerage services to Reliable, and may be used interchangeably) obligation to pay to Reliable the administration and/or processing fees that have been agreed between the parties or as may be set out below, Reliable shall pay to the independent mortgage consultant commissions at the rates and terms specified in this Schedule A.
  2. The mortgage consultant’s commission split is based on finders’ fees and broker fees earned. As of the effective date of this agreement split will be 85/15 provided deal is closed by agent himself from approval to closing. You are elegible for split as per clause (d) below
  3. Commissions shall be paid to the mortgage agent only when all documentation for any transaction is complete and remitted to all required parties, the transaction in question has closed, and any base commission, finders’ fee or brokers’ fee has been paid to Reliable by the appropriate financial institution or party.
  4. Underwriting support available to close your deals with split 75/25 (75% for agent and 25% to reliable) of commissions. If underwriting support is taken the clause b) above is not applicable to the deal on support taken from The commission split in clause b is just indicative and decided on performance basis time to time.
  5. The mortgage agent will be paid on next working day (in 24 hours) by online banking transfer after submission of file in order given in annexure 1. The each file papers shall be same which are forwarded to lender/financial institution while closing the deal. A transaction fee of $2.00 will be charged each time amount transfer to the agent.(void cheque required to add in to online transaction setup)
  6. An error and omission fees will be charged $200/- for a year provided the agent has good credit and no any claim pending. If under investigation upon evaluation of insurance provider reliable may not hire.
  7. At present credit bureau charges $10.00/per strike. When the price increase will be notified. Whenever credit bureau pulled from your system the consent and copy of ID of each applicant shall be sent to the office same time for record purpose.
  8. The commission sharing in clause a,b,c is strictly approval through filogix system.
  9. Other than the approval through filogix expert like commercial/private mortgages commission sharing will be dealt separately deal to deal basis.
  10. Reliable offers the commission sharing for Residential mortgages effective October 12,2018  
  11. RELIABLE reserves all rights

Please contact registered office at 226-336-1292 or toll free 877-330-0477 or 877 342 RFGI (7344) by email info@rfgi.ca for the agent in your area.