Skip to content
English - Canada
Sign in
  • There are no suggestions because the search field is empty.

What is the process to handle public deals?

NHMC Direct/Public Deal Process

Public deals, where NHMC represents the borrower, require additional steps due to NHMC acting in a dual capacity as both the broker and lender. The following additional requirements apply:

Step 1: Initial Borrower Contact

  • A licensed mortgage professional must be the first point of contact with the borrower.

  • This ensures compliance with FSRA standards.

Step 2: Mortgage Application (HS)

  • Send the borrower an NHMC Mortgage Application using the template,

  • The application must be filled, signed, and dated before proceeding.

TIP: A signed mortgage application provides consent to pull the borrower’s credit bureau report.

Step 3: Open the File in MA (Review in HS)

  • Once the application is received, enter all relevant borrower details into Mortgage Automator (MA).

    • Ensure that Arjun Saraf is listed as the 'broker' on the loan in MA.

  • This will create a new inquiry record. Merge with existing one.

  • Hand the file over to an underwriter for review, as per standard inquiry process.

Step 4: Compliance & Fraud Checks (MA)

  • Conduct a Canchek.ca search on the borrower.

    • Save the search results and fill in the appropriate MA field.

  • Complete an AML (Anti-Money Laundering) Risk Assessment.

  • If there are any suspicions of wrongdoing, escalate the case to management immediately.

Step 5: Suitability & Exit Strategy (MA)

  • Document suitability and exit strategy in the Borrower Level Page in MA.

Step 6: Income Confirmation (MA)

Request income documentation based on the borrower's income type:

  1. Salaried Individual – Job letter, pay stubs, or bank deposits showing wage deposits.

  2. Business-for-Self (BFS) / Commission-Based Income – T4 or job letter.

  3. Pension Income – T4A.

  4. Investment Income (rents, stocks, GICs, royalties, dividends, etc.) – T3, T5, rent receipts, or bank deposit statements.

Step 7: Conflict of Interest Disclosure (MA)

  • Since this is a public deal, replace the standard Finder’s Fee Disclosure Page with a Conflict of Interest Page.

  • When drafting the commitment:

    • Use the "NHMC as Broker" template to reflect NHMC’s dual role.