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Quality Management-in-Finance.

Wednesday, 21 June 2017

Before you contract with a licensed mortgage broker to arrange commercial real estate financing for your organization, read this.

Do you work for, or are in a Top Management role at an organization that requires financing for your real estate-based corporate, commercial or venture capital?

  • Are your current "go-to" institutional financiers (bankers, credit unions, trust companies) at their limit, to the level of financing they can provide you?
If your current institutional financiers are at their limit to the level of financing that they can provide you; or, they are not able to offer you financing of any kind, then your next step is to retain the services of a competent government licensed mortgage brokerage firm.

Why not just "shop" to another institutional lender, "on your own"? You don't want to "waste your time" seeking funds from another institutional lender because as of today (2017) institutional lender have Corporate Underwriting Standards that are nearly identical to one another. 

After all, all institutional lenders are regulated by the same government or regulatory body and as such, they look at all commercial mortgage applicants, and treat all mortgage applicants, nearly the same way. If one says something, there is a high degree of likelihood another will say the same thing.

What can you do? Where do go to get much needed development working capital?

Contract with a competent, government licensed mortgage brokerage firm, with experience in corporate-commercial-development financing!

How do you know you are dealing with a competent government licensed corporate-commercial-development financier? Here is a checklist:

(1) The simplest way is to see their website and get a sense if they even offer this service, and if they are confident to publish their offering in public setting.

(2) If they pass your website review, reach out to the candidate and ask them enough questions, so you are comfortable with contracting with them. 

(2.1) - what questions? Your own business experience should give you an idea of what questions to ask, however at MortgageQuote Canada Corp. (MQCC), our method of question when we are seeking to retain 3rd party vendors, is to focus on two sets of questions: Competency and Transaction Questions.

Competency questions enable MQCC to understand that the prospective individual or company have the level of expertise and experience we need.

Transaction questions enable MQCC to understand that the prospective individual or company have prior exposure to transactions similar to ours. 

A simple, non-exhaustive checklist of questions might include:

a) What are your fees?
b) Are there upfront fees payable to you - are they refundable or not?
c) If you find me a lender, are there upfront fees payable to the lender (ie: due diligence fees, refundable or not)?
d) We heard that some commercial lenders are in the business of charging "upfront" "due diligence fees" that are often "non-refundable", how do you know that the lender's you bring to us are not those types of lenders?
f) What is the time frame until funding?
g) If fees are payable at varies points along the time frame, what those fees, when are they payable and more importantly, why are they payable?
h) There are many "moving parts" to a commercial mortgage transaction; can you tell us what we should be expecting from start to finish?
i) What happens if the lender ends up saying "not", or does not give us what we want - then what do we do?
j) If we contract your firm, what do we get out of it? 
k) Is your government licensed mortgage brokerage firm's management system and business processes certified to regulatory recognized, National Standard to ensure that your commercial mortgage brokerage services will be delivered to us in statutory, regulatory and process compliant manner, so that we may sleep well at night? For, example, Certified to ISO 9001:2015?


Ensure you have satisfactory answers to the above questions, before you contract with a government licensed mortgage brokerage firm for your corporate-commercial-development needs.

For more information, contact: info@mortgagequote.ca.
To learn about MortgageQuote's Corporate-Commercial-Development financing services, visit;



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