Terms & Conditions

All mortgages processed through this website are processed through Real Mortgage Associates (license # 10464).  By applying for a mortgage you are agreeing to be bound by our terms and conditions:

Applications Processing

Timeline
We strive to respond to all applications received within 24 hours (1 business day) of their submission.  There are times when this is not possible for multiple reasons, in which case we will respond to the applicants as soon as possible.

Personal Information
The personal information collected during the application process is kept on file.  If no credit check has been performed we will shred your information prior to discarding of it.  If a credit check has been performed, your application along with the authorization to perform a credit check will be retained for future needs.  Annually this information is archived and will subsequently be saved for 7 years from the date of submission after which time it will be properly discarded of (please see our Method of Discarding Documents and Personal Information).  In situations where a mortgage has been approved and subsequently funded, all documents are kept on file for up to 10 years after the mortgage maturity date.

Disclosure of Personal Information

Mortgage Approval Process
In order to obtain a mortgage approval, we must obtain a credit check on all borrowers as authorized during the application process.  Credit checks are only valid for a certain length of time (typically 30 to 60 days).  From time to time it is required to obtain a second credit check.  By authorizing us to obtain one credit check, you are are also authorizing us to obtain addition credit checks as needed for the same mortgage application only.  Should you apply for a different mortgage, you will be required to re-authorize us to obtain a credit check for that mortgage.

The information collected during the application process may be shared, only as necessary, to any related parties which can include (but is not limited to) lenders (institutional or private), solicitors, Realtors, appraisers or any other related parties.

Co-Applicants/Guarantors
By applying for a mortgage with us, you are agreeing that both the applicant and co-applicants can discuss the merits of the application with the broker/agent.  In other words, there may be times when it is necessary to discuss information regarding the application/mortgage with co-applicants.  In the situation of spouses (or common law partners) both applicants consent that we are allowed to discuss the situations/information with either person.  In the event that the co-applicants/guarantors are not spouses or common law partners, no personal information will be discussed with the other applicants/guarantors.

Fraudulent Information
If an application or any information submitted is perceived to be fraudulent or misrepresented, this information will be forwarded to CMHC, Genworth, AIG United Guaranty and/or the lenders.  The information will be forwarded if fraud is suspected, even without proof.  These companies will investigate to determine if there were any fraudulent intentions.

Method of Discarding Documents and Personal Information

Paper-based documentation/information
Any information that is discarded of will be shreded with a cross-cut shreader prior to discarding of it.

Electronic documentation/information
Any electronic information that is discarded of will be deleted with no copies of it archived.

Third party companies
At the option of RMA or any of it’s agents/brokers we may choose to use a third party company to facilitate the removal and destruction of paper-based documents.  In such cases, we will opt to use a company that is in the business of secure document destruction (ie. Shred-it).

Website Statistics and the use of cookies

Our website uses online technologies to help us better understand what our users are looking for.  This may include using cookies and other analytical software to help track the usage behaviours for the users on this site.  This information is only used for the purposes of improving our website.  This information may be made available to our web developers to apply the benefits that are discovered.  This information will never be shared or sold to any third party companies or persons.

Jim Thornton, Mortgage Broker

Jim Thornton is the owner/operator of Moneytime.ca and, as mentioned, all mortgages processed through this website are processed by Real Mortgage Associates who is the mortgage brokerage (license # 10464).  In addition to mortgages, Jim Thornton offers other financial products in particular merchant services through Pivotal Payments and he also owns Results 360 Marketing Solutions.  By submitting information to this website, applicants are agreeing that the information provided can be used to offer other products and services sold by Jim Thornton through companies that are not related to Real Mortgage Associates.  In such cases, should there be any reason to contact a head office, please contact the appropriate company involved as RMA is not responsible for any activities other than mortgage related transactions.