Preferred Underwriting Steps:

  • Submit the application to the appropriate underwriting team:
    • Filogix
      • NS –> “Yes Capital NS” in the private lender menu
      • NB –> “Yes Capital NB” in the private lender menu
    • Scarlett
      • NS –> “
      • NB –> “
    • Velocity
      • NS –>
      • NB –>
    • Applications and docs are NOT accepted via email.
  • Our underwriting platform sends all email communication to the submission agent so it must be the broker handling the app.
  • Do you wish to discuss aspects of the deal prior to underwriting?
    • Flag this request in the submission notes
  • A preliminary file upload link will be sent to the submission agent automatically.
    • Please upload docs already on hand to speed underwriting.
    • The following docs upfront will save you and us time:
      • bank statements
      • income verification docs for all borrowers relying on BFS  or seasonal or commission income.
    • Upload portal provides document review status in real time.
  • Submission agent will receive an email indicating the underwriter’s contact info as assigned.
  • Underwriter will send an updated document request email to the submission agent.
  • We understand a Mortgage commitment is appreciated early in the process
    • Our terms are based on borrower and property quality which is primarily illustrated:
      • Bank history,
      • Income verification docs,
      • Photos –>  may save your client the cost of an appraisal.
      • Appraisal.
  • Document age limits:
    • T2 and associated NOA –> 6 months after next year end
    • T1 and associated NOA –> 4 months after next year end
    • job letter  –>
    • appraisal  –>
    • credit bureau  –>
  • Broker complete: confirmed when the lawyer is instructed to close.
    • instructions email will CC broker.
  • Broker compensation: within 14 business days of the lawyer confirming the Mortgage closed.