Mortgage Broker Form 9 section 17.1, InvestorLener Disclosure

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Mortgage Broker Form 9 section 17.1, InvestorLener Disclosure Powered By Docstoc
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                      Registrar of Mortgage Brokers                                         Number:
                      1200 – 13450 102nd Avenue
                      Surrey, BC V3T 5X3



                                                             INVESTOR/LENDER DISCLOSURE STATEMENT
                                                                                  FORM 9- Section 17.1
Neither the Registrar of Mortgage Brokers nor any other authority of the government of the Province of British Columbia has in
any way passed on the merits of the matters dealt with in this information statement. This information statement has not been
filed with the Registrar of Mortgage Brokers and the registrar has not determined whether or not it complies with Part 2 of the
Mortgage Brokers Act.

Please write or print clearly. If additional information is required, reference and attach a schedule to this form.

A - CAUTIONS
1. All mortgage investments carry risk. There is a relationship    5. You should be satisfied with the borrower’s ability to meet
   between risk and return. You should very carefully assess          the payments required under the terms of this mortgage.
   the risk of the transaction described in this Investor/Lender   6. A mortgage broker must not administer, or arrange for
   Disclosure Statement and in the supporting documentation           another person to administer, a mortgage on your behalf
   before making a commitment.                                        unless the mortgage broker has a written agreement with
2. You are advised to obtain independent legal advice                 you that covers matters set out in the Mortgage Brokers Act.
   regarding your decision to invest.                              7. This Investor/Lender Disclosure Statement and the attached
3. If you are one of several investors in this mortgage, you          documents are not intended to provide a comprehensive list
   may not be able to enforce repayments of your investment           of factors to consider in making a decision concerning this
   on your own if the borrower defaults.                              investment. You should satisfy yourself regarding all factors
4. You should ensure you have sufficient documentation to             relevant to this investment before you commit to invest.
   support the property valuation quoted in this Investor/Lender
   Disclosure Statement.

B – BORROWER / GUARANTOR / CONVENANTOR INFORMATION
FULL NAME OF BORROWER:                                             FULL NAME OF GUARANTOR/CONVENANTOR (if applicable):


ADDRESS - include postal code                                      ADDRESS – include postal code




C – OTHER PARTIES TO THE TRANSACTION REPRESENTED BY THE MORTGAGE BROKER
         The Mortgage Broker does not represent other parties to the transaction.

         The Mortgage Broker does represent other parties to the transaction, who are:
                  The borrower:
                                    Name
   Syndicate mortgage lenders:
      (attach list if more space
                        required)
                                    Name

                                    Name

                                    Name
        Other – please describe:




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D – PRE-EXISTING OR EXISTING MORTGAGE IN DEFAULT

Will the lender/investor be acquiring an interest in a currently registered mortgage?
     Yes       No
If yes, please explain any defaults by the borrower over the past 12 months:


If the mortgage is new, was there a previous mortgage registered against title by the same borrower?
     Yes      No
If yes, please explain any defaults by the borrower with the previous mortgage over the past 12 months:




E – REGISTERED INTEREST
    Your interest as a lender will be directly registered on the mortgage document filed at the Land Title Office ; or

    ________________________________ will act as a trustee or nominee and will hold a registered interest in the mortgage in
trust for you as beneficial owner; or

    Your interest in the mortgage will be secured under the following arrangements:




F – PROPERTY TO BE MORTGAGED
Legal and Municipal address of the property:                        Property taxes

                                                                    Annual Property taxes:    $ ____________________________

                                                                    Are taxes in arrears?
                                                                        Yes
                                                                        No
                                                                    If yes, amount in arrears: $ ____________________________

Type of Property                                                    Zoning

   Property with existing buildings                                 If mortgage proceeds are to be used for construction financing,
      Single family residential                                     is the zoning on the property appropriate for the proposed
      Two-to-four unit multifamily                                  use?
      Five or more unit multifamily
      Commercial                                                        Yes
      Industrial                                                        No
      Other:                                                        If no, details:


   Vacant land, development or construction project.                Appraisal
   Detail of project/proposed use:
                                                                    Date of appraisal:

                                                                    Name and address of appraiser:

   Other:

                                                                    Current value of property based on appraisal:

                                                                                               $ __________________________


                                                                    Projected or future value of property based on appraisal:

                                                                                                 $ _________________________



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G – MORTGAGE PARTICULARS
Type of Mortgage                                                       Terms of the Mortgage

Your investment represents:                                            Amount of your investment:             $ _______________________
     the entire mortgage
                 OR                                                    Face value of the mortgage:            $ _______________________
     a portion of the mortgage
    Your portion represents _____________ % of the total.              Interest rate is fixed at __________ % per annum
                                                                                                      OR
     ______ other parties have an interest in this mortgage.
                                                                       Interest rate is variable. Explain:


Trust Funds                                                            Compounding Period:       ______________________________

Will the funds be held in trust pending execution of the               Payment Frequency:       _______________________________
mortgage?
    Yes                                                                Payments by Borrower: $ ____________________________
    No
If yes, please indicate the party that will hold the funds in trust:   Term: ___________ Amortization: _____________________

                                                                       Maturity date: ______________________________________


Administered Mortgage                                                  Balance on maturity:                    $ ______________________

Will the mortgage be administered for you?                             Borrowers first payment due:            _______________________
   Yes

     No
If “yes”, name and address of administrator:



                                                                       Loan to value ratio (according to information from
Rank of Mortgage                                                       borrower)

The mortgage will rank:                                                  a) Total of prior encumbrances: $ _____________________
  first      second          third      other: ___________

Prior encumbrances (existing or anticipated)                             b) Amount of this mortgage:            $ _____________________

   None
                                                                         c) Total amount of mortgages:                    0.00
                                                                                                                $ ____________________
    OR                                                                      (a + b)

   Priority: ____      Amount Owing $ _______________                    d) Appraised “as is” value:                      0.00
                                                                                                                $ ____________________
                       In default?       Yes      No                        (from Part F)

   Lender/Charge Holder__________________________                        e) Loan to “as is” value:                       NaN
                                                                                                                  __________________%
                                                                            (c/d x 100)

   Priority: ____      Amount Owing $ _______________                    f) Projected value:                    $ ____________________
                       In default?       Yes      No                        (where appropriate)

   Lender/Charge Holder__________________________                                                                   NaN
                                                                         g) Loan to “projected value” ratio: __________________%
                                                                            (c/f x 100)
   Priority: ____      Amount Owing $ _______________
                       In default?       Yes      No

   Lender/Charge Holder__________________________

Others:


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H – FEES CHARGED TO THE INVESTOR
Mortgage broker fee                          $ ______________________

Administration fees (where applicable):     $ ______________________

Any other charges:                           $ ______________________


TOTAL:                                                  0.00
                                             $ ______________________



I – ATTACHED DOCUMENTS
Important: You should review the following documents carefully and assess the risks of this investment before
committing to invest. The following documents are attached:

1.       A copy of any existing mortgage on the property;
2.       A copy of the appraisal;
3.       A copy of any purchase and sale contract entered into by borrower for the purchase of the property;
4.       Documentary evidence respecting the borrower’s ability to meet the mortgage payments, such as a credit bureau
         report or a letter from an employer disclosing the borrower’s earnings.
5.       A copy of the borrower’s application for a mortgage.
6.       If the mortgage is a new mortgage, documentary evidence of any down payment made by the borrower for the
         purchase of the property.
7.       A copy of any agreement that you may be asked to enter into with the mortgage broker or other administrator.
8.       A copy of the Cost of Credit Disclosure provided to the borrower.


J – CERTIFICATION
This Investor/Lender Disclosure Statement has been completed by:

______________________________________________________________________________________________________

______________________________________________________________________________________________________
                                    Name and address of Mortgage Broker


I have fully completed the above Investor/Lender Disclosure Statement in accordance with the Mortgage Brokers Act and
regulations and declare it to be accurate in every respect.


Date:    ______________________________________                  _________________________________________________
                                                                        Signature of Mortgage Broker, or of a person authorized
                                                                               to sign on behalf of the mortgage broker


                                                                 _________________________________________________
                                                                                     Print name of person signing


K – ACKNOWLEDGEMENT


I, ________________________________________________, of _________________________________________________
                       Print name                                                        Address

acknowledge receipt of this Investor/Lender Disclosure Statement, signed by the mortgage broker.



Date:    ________________________________________                Signature: _________________________________________
                         Dated by Lender

                               One copy of this form must be provided to the prospective investor,
                                    and one copy must be retained by the mortgage broker.

MBA F9 01/2009
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