Westboro MIC uses its large network of licensed brokers/agents to continually fund mortgages within its lending area. Our qualified Underwriters screen applications and only approve mortgages that meet the funds’ criteria as approved by management. Generally speaking, these applications range from individuals or corporations with an immediate need for mortgage financing, however, for many different reasons, they do not qualify with the bank at this time. Examples are as follows:
- A business has the opportunity to purchase a property, however, the bank was unable to process their required loan quickly enough;
- Credit cards are fully extended: credit has been damaged due to sickness, marital break up or being out of work. Client is now back to work, healthy / happy and has the income stream to service the mortgage;
- Payments on credit cards have been delinquent due to various reasons.
In all of the aforementioned situations, Westboro MIC works with clients and brokers/agents to guide and help them return to the traditional lending market.