Mortgage Administration & Fund Management

Compliant mortgage servicing and investor management for MIEs, MICs and private lenders. Your source for everything about mortgages. Learn and be a secured lender today!

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Mortgage Administration & Servicing

Trying to manage your own private mortgage could be a daunting task, especially if you have more than one.

Mortgage

  • Get help underwriting your mortgages and loans

    Administering a mortgage loan is the servicing required after the loan agreement or mortgage commitment has been executed (i.e. the underwriting is complete). But it all starts with proper underwriting.  Our professionals, including lawyers and other qualified mortgage agents and brokers, at Mortgage Administrator can facilitate the mortgage underwriting and drafting of the loan agreement or mortgage commitment.

  • At any time you can retain us as your loan administrators

    Typically our mortgage lender clients outsource their loan administration once the loan closes (which we handle as well). Borrowers will also receive a letter that explains that we will be administering the mortgage loan on behalf of our lenders.

  • We are the backbone of your mortgage and loans

    Mortgage lenders should be busy evaluating potential borrowers’ creditworthiness, the equity left on the collateral property and issuing loans. Rather than creating a separate department to service your loans, its often best to outsource this function to Mortgage Administrator that specializes in mortgage and other loan closings, mortgage (or any type of loan) administration and mortgage enforcement, including power of sales and foreclosure, or enforcing recovery of any other type of loan.

Get a Free and Confidential Consultation with our Experts

If you find yourself in need of any advice regarding Mortgage Administration and Fund Management such as investor relations and raising capital for your Mortgage Investment Coporation, do not hesitate to contact us.

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What is required to administer & service a mortgage?

  • Informing the borrower of their periodic repayments, such as blended or interest only payments, or repayment schedule, often called an amortization schedule for blended payments of interest and principle.

  • Collecting the contact information of the borrowers and guarantors and any next of kin to use in the case of an absent borrower. Also, informing the borrower of any changes such as an assignment of the mortgage loan to a different lender or lenders, and if any changes in how to make the periodic payments are required.

  • Depositing the periodic post-dated cheques of the mortgage repayments or interest only payments, on time when they come due. Or alternatively withdrawing the periodic mortgage payments directly from the borrower’s bank account or other form of payment.

  • Ensuring the mortgage payments clear, and if not, to immediately record the date and reason for the payment being returned as not cleared, for example insufficient funds from the bank.

  • To forthwith send a demand for payment to the borrower for the mortgage payment that was returned, informing them that they are in breach of the terms of the mortgage agreement, and that it is a form of default under the loan. In this letter any penalties, NSF fees, and compounded interest due because of this missed payment is calculated and the borrower is told to bring in certified funds or to make such funds available for direct withdrawal prior to any enforcement proceedings.

  • Collecting and depositing or withdrawing the missed payment from the borrower’s account, failing which a legal demand letter is sent out pursuant to the regulations and laws governing the mortgage enforcement proceedings in the jurisdiction where the collateral real estate property is located. This will also take into consideration any terms in the mortgage agreement.

  • Communicating and reporting to the mortgage lender, and if more than one, ensuring that the terms of any inter-lender or co-lender agreement are upheld.

  • Remitting the cleared mortgage payments from the borrowers to the lenders in a timely manner. Along with a breakdown of the remittance and an accounting of the payments to-date as it compares to the payment schedule pursuant to the mortgage agreement with the borrower.

  • Assisting co-lenders on the mortgage with assigning their interest or portion of the mortgage loan to a new mortgage lender or to one of the existing mortgage lenders on the same mortgage loan.

  • Preparing any assignment agreements and transfer documents of the mortgage loan and security from the existing mortgage lender to the new mortgage lender, and completing any registrations to perfect same.

  • Responding to any requests by the borrower or their lawyer for payment history information, delaying or moving the date of an upcoming mortgage payment, correcting any errors or miscommunications, preparing mortgage information statements and accounting of the payments made pursuant to its schedule, and preparing mortgage payout statements for discharge purposes including any prepayment penalty calculations.

  • Handling any responses to other mortgage lenders and encumbrancers, such as construction lien claimants that have also secured or registered their interests on the same collateral real estate property.

  • Enforcing any mortgage loans that are in default, including power of sale and foreclosure proceedings, as well as suing the borrowers and guarantors for any shortfalls after recovery against the collateral real estate property.

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Fund Management & Investor Relations

Mortgage Administrator prides itself on knowing all that it takes to manage and operate a Mortgage Investment Entity, such as a MIC or a Mortgage Investment LLP.

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As pioneers in this industry, with over 60 years of combined experience, we can assist you with:

  • Preparing your initial Offering Memorandum, Subscription Agreement and business plan to provide your investors and shareholders.

  • Navigating through the intricacies of completing a subscription agreement, the exemption from prospectus certificates and acknowledgements, the know your client (KYC) and know your product (KYP) forms.

  • Completing your exempt distribution reports and filing them with the securities commissions and regulators in a timely manner.

  • Issuing and delivering certificates, units or shares to investors, partners or shareholders, and updating the required resolutions, registers and ledgers.

  • Completing corporate matters including acquisitions and amalgamations.

  • Regulatory changes and updating the offering memorandum, subscription agreement, exemption forms and certificates and any other requirements of matters of compliance.

  • Operational matters such as investing in mortgage portfolios and lending on mortgages secured against residential and commercial real estate.

  • Underwriting simple and complex mortgage loans taking into consideration the lending parameters of the Mortgage Fund and the needs of the borrower, balanced between their ability to pay and the collateral available to secure against.

  • Putting together the deal terms of co-lending arrangements and drafting inter-lender agreements in a syndication or prioritized lending consortium.

  • Closing your mortgage loan transactions, including drafting the required security documents, completing title and off title searches, advising on any further inquiries of the borrowers, guarantors and collateral, registering and perfecting the security.

  • Demanding payment, collecting arrears, enforcing the mortgages and any remedies available under the security documents, laws and regulations, including power of sales and foreclosures.

Get a Free Demonstration of Our Services

Contact us now to get a free demonstration of our services, including an example of our reports and online portals for you and your investors!

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Our Team of Experts Keeps Growing!

Here to serve for over 12 years, our legal experts are skilled at enforcing debt collections of all kinds, including the laws and regulations regarding mortgages, finance and commercial law in general, and have years of experience in Ontario.

Jeff Levy

Founder & Lawyer - Email is [email protected]; Tel is 416-477-5941

Mr. Levy represents mortgage investment corporations (MICs), mortgage funds, mortgage brokerages and administrators from all provinces wanting to extend loans in Ontario.  Jeff works with many MICs, mortgage lenders, including private lenders, and lenders of all kinds from nearly every province in Canada, including British Columbia (BC), Manitoba, Alberta, and the maritime provinces.  Jeff Levy is extremely experienced in understanding complicated mortgage loan agreements with multi-collateral structures, diverse payments and elaborate recovery provisions for every unique situation. His long history of experience in mortgage enforcement, power of sale, and foreclosures, has given him the knowledge to foretell viable exit strategies at the loan origination stage of almost every single mortgage deal.

Shanon Dolphin

COO - Email is [email protected]; Tel is 555-555-5555

Shannon Dolphin has been working with MICs for over 25 years.   Shannon initially raised private equity for Western Canadian MICs from 1995 to 1998 and was previously raising equity for publicly traded companies for a decade. Her diverse knowledge of the Security Commission requirements has proven a valued skill for administering MIC and their exempt investments.  Coincidently,  Dan Dolphin and Dolphin were customizing Mortgage and Accounting servicing software since 1990.  As a pioneer in software development,  Dolphin created MIC Manager for MICs and Canadian Private lenders in 2002.  Shannon Dolphin with her father,  acquired the first MIC client in 2004 and have now grown to be the largest software supplier to Canadian private lenders.

Shannon suddenly took over Dolphin Enterprises in 2006 and has continued the legacy of focusing on client specific needs and requests.   Having worked with all types of Canadian private lenders,  she has a deep understanding of the unique diverse requirements and business needs for all types of Alternative Lenders.  Shannon’s experience along with her staff and software continue to provide outstanding customized administration services for all types of Canadian Alternative Lenders.

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XXXX - Email is [email protected]; Tel is 555-555-5555

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Looking for a strong legal team to support your mortgage and loan business?

That's where we can help.  Working closely with law firms all across Canada, we can make suggestions based on fit and affordability!

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Our Loan Administration and Fund Management Services in a Nutshell!

  • Customized Mortgage Servicing:

    • Based on each unique corporate business requirements
    • Manage all related transactions
    • Arrears and settlement services
    • Collection of payments
    • Perform all funding duties including electronic dissemination of funds
    • Broker reporting analysis
    • Complete Renewals of all loans including related reporting to borrowers and Disclosure Statements
    • Complete Payout of all Mortgage with related reporting requirements
    • Prime Plus and rate changes with payment changes based on new interest rates
    • Interest Reserve and Trust account management

  • Bookkeeping & Bank Reconciliations:

    • Real time accounting reports and reporting
    • Customization of Corporate accounting including all interest calculations
    • Management accounting reporting
    • Income reports including management fees, accrued and interest outstanding report

  • Management Reports & ROI Analysis:

    • Financial Management reports
    • Analytical transaction reporting based on date ranges

  • Fund Investor Management:

    • Maintain investor compliance with reporting 45-103
    • Maintain CRM2 reporting according to 31-103 requirements
    • NAV Management based on corporate performance
    • All related Investor transactions including transfers, redemptions, partial redemptions
    • Divided calculations based on funds to distribute
    • Full management and executing of Investor return through EFT, Cheque and Trustee distributions
    • Management of all types of Investments including reinvestments and cash payments
    • Full Trustee reporting for all types of Canadian trustees
    • Generate and submit all T5s
    • Annual Reporting for Compliance including ROI for money weighted rate of returns

  • Private Investor Management:

    • Manage Investor payments from borrowers for all types of transactions
    • Management and calculation of Admin fees to the Management Company
    • Calculations for all CRA fees
    • Online investor reports for online reporting

  • EMD & Securities Services:

    • Accreditation of investors
    • Produce Trade Confirmations and Quarterly reports
    • Fully integrated to the Fund including related reports

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Our Loan Administration and Fund Management Services in a Nutshell!

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