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What will you learn about?

Upon completion of the course students will be able to:

  • Conduct credit investigations and assessments
  • Calculate the cost of borrowing for clients
  • Recommend consumer credit and mortgage products including creditor insurance
  • Identify how to minimize credit default situations and mortgage default
  • Understand lending in changing economic climates
  • Distinguish various types of mortgage loans
  • Determine the stipulations of land title and registration
  • Complete mortgage disbursement and documentation requirements
  • Portable and Assumption
  • Equity Mortgage
  • Investment Properties
  • Rural Mortgages
  • Construction Mortgage
  • Newcomers to Canada Mortgage

What is the course syllabus?

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Module 1 - Consumer Credit Advice

Section 1 - Basics of Consumer Credit

Topics covered in this section are:

  • Reasons why Clients need Credit
    • Definition of Credit
    • Purposes of Credit
  • Types of Consumer Credit
    • Revolving Credit
    • Consumer Loans

Section 2 - Complete The Credit Application

Topics covered in this section are:

  • Complete the Credit Application
    • How to Conduct a Client Interview
    • Components of a Credit Application

Section 3 - Credit Investigation And Assessment

Topics covered in this section are:

  • Conduct the Credit Investigation
    • Preliminary Investigation
    • The Five Cs of Credit
  • Conduct the Credit Assessment
    • Proof of Borrower’s Income
    • Analysing a Credit Report
    • Signs of Credit Risk
    • Risk Management Considerations

Section 4 - Cost Of Borrowing

Topics covered in this section are:

  • Calculate the Costs of Borrowing
    • Calculate the Cost of Borrowing
    • Calculate the Monthly Payment
    • Reduce the Cost of Borrowing

Section 5 - Finalizing the Offer

Topics covered in this section are:

  • Recommend Credit Products
    • Collateral and Documentation
    • Presenting the Offer
    • Deferred or Declined Offers
    • Guarantors and Co-Borrowers
    • Independent Legal Advice

Section 6 - Legal Issues

Topics covered in this section are:

  • Legislation And Compliance
    • Consumer Credit Regulations
    • Privacy
  • Minimizing Risk Of Default
    • Delinquency
    • Debt Collection
    • Bankruptcy and Credit Counselling

Module 2 - Mortgage Advice

Section 1 - Basics of Mortgages

Topics covered in this section are:

  • Reasons why Clients need Mortgages
    • Aspects of a Mortgage
    • Why Clients need Mortgages
  • Mortgage Terms
    • Types of Mortgages
    • Property Ownership Limitations
    • Sources of Mortgage Funds
    • Legal and Equitable Mortgages
    • Client’s Rights and Liabilities
  • Land and Title Registration
    • Registration and Priority
    • Land Ownership Laws and Fees

Section 2 - Mortgage Application

Topics covered in this section are:

  • Complete the Mortgage Application
    • The Mortgage Application Form
    • Accepted Agreement of Purchase and Sale

Section 3 - Credit Assessment

Topics covered in this section are:

  • Complete the Credit Assessment
    • Calculate the Gross Debt Service Ratio
    • Risk Assessment
    • The Appraisal

Section 4 - Constructing Mortgage Offers

Topics covered in this section are:

  • Conducting the Interim Meeting
    • Matching Needs
    • Methods of Payment
    • Term and Amortization
    • Interest Charges
    • Taxes and Closing Costs
    • Mortgage Prepayment
    • Disclosure
    • Insurance
    • Canadian Mortgage Insurers
  • Submitting the Offer
    • Constructing the Mortgage Offer for Submission

Section 5 - Facilitate Mortgage Disbursement and Documentation

Topics covered in this section are:

  • Facilitate Mortgage Disbursement and Documentation
    • Instructions to the Lawyer
    • Documentation
    • Disbursement of Funds

Section 6 - Legal Issues

Topics covered in this section are:

  • Manage Mortgage Default Risk
    • Steps to Minimize Arrears
    • Definition of Default
    • Factors to Consider in Case of Mortgage Default
    • Arrears on Insured Mortgages
  • Mortgage Contract
    • Independent Legal Advice

Resources

Resource 1

  • Standard Mortgage Clauses

Resource 2

  • Mortgage Discharges

Resource 3

  • Guarantors and Co-Borrowers on a Mortgage

Resource 4

  • The Decision to Lend

Module 3 - Advanced Mortgage Advice

Section 1 - Portable and Assumption Mortgages

Topics covered in this section are:

  • Core Components of the Mortgage
    • Key Features and Benefits
    • Risks and Fees for Buyer and Seller
    • Conditions for Product Conformity
    • Responsibilities of the Seller and Purchaser
  • Required Documents
  • Setting up the Mortgage

Section 2 - Equity Mortgages

Topics covered in this section are:

  • Core Components of the Mortgage
    • Key Features and Benefits
    • Risks and Fees for the Client
    • Borrowing to Invest
  • Setting up the Mortgage
    • Setting up the Mortgage
  • Finalizing the Product
    • Allocating Equity Credits
    • Canada Revenue Agency Rules for Consolidated Loans

Section 3 - Investment Property Mortgages

Topics covered in this section are:

  • Core Components of the Mortgages
    • Key Features and Benefits
    • Understanding Conditions of the Property
    • Risks and Fees for the Borrower
    • Holding Companies
    • Required Documents
  • Setting up the Mortgages
    • Product Structure
    • Determining a Client’s Suitability
  • Finalizing the Product
    • The Client’s Responsibilities

Section 4 - Rural Mortgages

Topics covered in this section are:

  • Core Components of the Mortgage
    • Key Features and Benefits
    • Understanding Conditions of the Property
    • Risks and Fees for the Client
  • Finalizing the Product
    • Borrower’s Responsibilities for Rural Mortgages

Section 5 - Construction Mortgages

Topics covered in this section are:

  • Core Components of the Mortgages
    • Key Features and Benefits
    • Fees
    • Independent Legal Advice
    • Required Documentation
  • Setting up the Mortgage
    • Product Structure
  • Finalizing the Product
    • Client’s Responsibilities

Section 6 - Newcomers to Canada Mortgages

Topics covered in this section are:

  • Disclosure
    • Full Disclosure in the Context of New to Canada
  • Core Components of the Mortgage
    • Understanding Status
    • Key Features and Benefits
    • Limitations on the Property
    • Required Documentation for Verification
    • Risks and Fees for the Client
  • Setting up the Mortgage
    • Determining Suitability for New to Canada Mortgages

Resources

Resource 1

  • What About Grow Ops?
    • Introduction to Grow Ops
    • Financing Restrictions
    • Disclosure Requirements
    • Property Declarations

Resource 2

  • Legal Substitution
    • Title Insurance

How will you learn?

CSI’s online learning system helps you meet your study goals. You’ll benefit from:

  • Textbook readings available in online PDF and printed format
  • Course materials accessed through your computer or laptop
  • Learning objectives that help you to keep the learning focused
  • Online activities that include review questions and integrated case studies to help you assess your progress
  • Online assistance from CSI’s academic support specialists

Course Completion

This course has an online test (not proctored) component which students must pass. This includes testing all material covered within the course. The test questions are randomly generated and the mark is documented in the student record and archived in the student profile per attempt. Please note: Only the first passing grade will be downloaded to your file.

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