Get A Better Mortgage Inc.

FSRA Licence Number: 10874

POLICIES AND PROCEDURES MANUAL

ADDENDUM TO SECTION 4: FORMS

SECTION 4.1

2020

In this section you will find the mandated Get A Better Mortgage Forms.

Table of Contents

GABM Compliance checklist

Assessing Borrowing Suitability

Material Risks

Suitability Consent Form

GABM Consent Form

GABM Application form

Please note:

Minimum Efficiency with each lender must be upheld.

Efficiency minimums attached as well

Efficiency Minimums

Lender Minimum Funding Ratio

Calculation Cancel vs Declined, common reasons

Tips Bonus

TD 75% Commit to Fund Funded / Funded + Cancelled

Anytime they give a commitment and it doesn’t fund it is deemed cancelled Cancellations affect funding ratio Declines don’t affect ratio Preapps don’t affect ratio

Cancelled reasons: appraisal value doesn’t come in, broker moving the deal elsewhere due to rate, income comes in differently than submitted Declined reasons: TD not comfortable with income, TD doesn’t like the area, too soon to close, poor credit, too high risk

- Review income first - Due diligence on

property value - Run the deal by

Moh or Tara or Mo Ajwani

- Bridges are painful (Must be done at the branch – give 2-3 weeks)

- Tara has discretion on rate if in competition

- Refi needs 650 beacon

No Bonus paid to GABM

RMG 75% Commit to Fund Funded / Funded + Cancelled Minimum 3 funded deals to remain active

Anytime they give a commitment and it doesn’t fund it is deemed cancelled Cancellations affect funding ratio Declines don’t affect ratio Preapps don’t affect ratio

Cancelled reasons: appraisal value doesn’t come in, broker moving the deal elsewhere due to rate, income comes in differently than submitted Declined reasons: RMG not comfortable with income, RMG doesn’t like the area, too soon to close, poor credit, too high risk

- Call John if unsure - Review income - If existing RMG

client, try to stay with RMG, you get paid again

- They have the graduation program from Eclipse to A side, paying full commission

No Bonus paid to GABM

Equitable 65% Commit to Fund

Anytime they give a commitment and it doesn’t fund it is deemed cancelled Cancellations affect funding ratio

Cancelled reasons: income docs come in too low, fair or poor condition on appraisal, cant qualify, no sign back received differently than submitted Declined reasons: poor payment

- Run deal by Dina or Lukasz

- Get income docs upfront

- When you have a new property don’t resubmit, just send to underwriter

- If you have a deal you’re losing

No Bonus paid to GABM

Declines don’t affect ratio

history with EQ bank, outside the lending area

because of rate, call Dina

- They cancel the deal if they don’t have a sign back 7 days before closing

- Underwriter and BDM’s are not recorded, fulfillments calls are

- All emails are tracked

- They don’t review docs without signed commitment

- Don’t mention cash in notes

- Don’t mention haven’t filed taxes

- Less is more for notes

- What is ETO used for

- You get paid in renewals with consent form

- If you do an internal refi, EQ charges 1%, you get paid on whole amount

Haventree 20% Min Funding Ratio (Funded / Funded – Cancelled + Declined)

Anytime they give a commitment and it doesn’t fund it is deemed cancelled Cancellations and cancellation affect funding ratio

Cancelled reasons: better rate elsewhere, Declined reasons: location not approved

- Prescreen with BDM

- New submission for new property

- If client was unresponsive and later comes back, email BDM and UW

- They will cancel if the sign back is not received 10 days after issue

- Less is more for notes

- Refi at maturity – paid in full

- Renewals: send consent form to

No Bonus paid to GABM

retention team: 1 year 10bps, 2 year 20bps

- If they want more money mid-term, increase term by 1 year and you get paid on new money

MCAP 75%

Commit to Fund Funded / Funded + Cancelled Calculated Monthly Minimum 3 funded deals to remain active

Anytime they give a commitment and it doesn’t fund it is deemed cancelled Cancellations affect funding ratio Declines don’t affect ratio Preapps don’t affect ratio

Cancelled reasons: appraisal value doesn’t come in, broker moving the deal elsewhere due to rate, income comes in differently than submitted Declined reasons: MCAP not comfortable with income, MCAP doesn’t like the area, too soon to close, credit too low, too high risk

- Lucy’s calls are not recorded

- If you have docs in lieu of another required document, put it in upfront notes

- Call Lucy if you’re losing a deal because of a rate or condition

- If current MCAP mortgage maturing, send back to MCAP as a refi + $10K to get paid on total amount

- 48hr doc review - Avoid saying thank

you in Professor - 10 days to get

commitment signed or deal is cancelled

- If you need a rate changed or a float down, go to Lucy 10 days before closing

- If the property changed you must resubmit the whole application

- If the property changes and the new value is within 1% you can send to Jen to amend, if its over 1% resubmit

- Need 30 days for switches

5bps bonus on each deal Resets every month Eclipse does not count towards efficiency bonus

- Insurable deals with low LTV and strong assets and need exception – call Lucy

- HELOC in 2nd position on existing MCAP clients may be able to go to 80%

- They have the graduation program from Eclipse to A side, paying full commission

First National

70% Commit to Fund Funded / Funded + Cancelled Calculated quarterly. If we lose this quarter and next quarter we earn it, they will retro pay the bonus

Cancellations affect funding ratio Declines don’t affect ratio Preapps don’t affect ratio

Cancelled reasons: agent cancel or FN cancel due to lack of response Declined reasons: too risky, beacon too low, if cancelled after the commitment was issued and FN declines the deal due to appraisal it is declined

- Involve Daniella with Cancellation

- Underwriters calls are recorded, Daniela’s aren’t

- Review FN’s niches - Notes are very

important - If strong net worth

and low LTV and need extended ratios, call Daniela

- They have the graduation program from Excalibur to A side, paying full commission

Over 70% funding ratio, 10bps paid on each deal From 65-69.95% funding ratio 5bps paid Excalibur deals count toward overall volume for Wizard Status

Home Trust

33% Efficiency Minimum 12 month rolling average

App to Fund Cancelled reasons: agent cancel or HT cancel due to lack of response Declined reasons: too risky, income not supported,

- If HT is following up, be responsive

- 5 days for sign back or underwriter will cancel. If you need more time, tell them and they will extend

10bps end of the year with a minimum 33% efficiency and 30 million in

Onboarded agents must fund 4 deals minimum to remain active, with a 33% efficiency

property in poor condition…

- HT works from submission date. They try to complete a file 10 days from submission instead of working from closing date

- If you’re unsure, ask Krista

- All underwriter calls are recorded, Krista’s are not

- Don’t let the deal disappear, call Krista first

- Come to Krista’s Presentation on products, changes, and updates

volume, paid to the agent.

CMLS 70% Approve to Fund 44% Submit to Fund 12 month rolling average Minimum 1 funded deal

Cancellations affect funding ratio Declines don’t affect ratio Preapps don’t affect ratio

Cancelled reasons: agent cancel or CMLS cancel due to lack of response Declined reasons: too risky, income not supported, property in poor condition…

- Read Sam’s emails - Know the different

products (Rate advantage, connect, Alterna, Duca etc.)

- Before moving a deal because of rate call Sam

No Bonus paid to GABM

Scotiabank 80% Commit to Fund Minimum funded volume of 2M to remain onboarded

Anytime they give a commitment and it doesn’t fund it is deemed cancelled Cancellations affect funding ratio

Cancelled reasons: broker moving the deal elsewhere due to rate, clients have gone elsewhere, income comes in differently than submitted Declined reasons: low internal BNS score, file doesn’t

Call BRM to go over deals requiring exceptions

Collect full income documents up front (Salaried: current stub and LOE. BFS: 2 years T1 Generals and NOA)

Calculate salaried income by pay stub

35bps Volume Bonus Paid

Rate holds don’t affect funding ratio

meet policy requirements

Satisfy a condition or all conditions in their entirety

Review bureau to see if any BNS lates (get reason why) OR any registered items not reporting (car loans)