The RMA “ALT” HUB has been created to help you close more deals.
The purpose of the HUB is to utilize it’s experience in the alternative lending space to facilitate the closing
of harder to place deals whether through institutional or private sources.
The HUB can help you with “B” deals, 1st, 2nd or 3rd mortgages and commercial deals.
How it works:
Send your deal inquiries to althub@rmabroker.ca or call 905-581-0183 (866-888-2746 if long distance).
Be sure to include borrower information including credit and income details. If self employed indicate
tenure, details on what the client does and how they get paid (i.e. invoices deposited into a business
account etc..) and what documents are available upfront.
Property details including appraisal, offer to purchase and MLS listing.
Requested loan amount and LTV.
Disclose any known material facts, previous bankruptcy, property foreclosure, existing mortgage arrears
The HUB will quickly review the request and assess suitability to the various lenders available.
The HUB will request you co-broker the deal through Filogix for submission to the appropriate lender.
The HUB will maintain all communication with the Lender and you will maintain all communication with the
borrowers. Once a commitment is available, it will be forwarded to you including details on HUB split and
any broker fees being levied.
The Hub will retain 30% of deal revenue (lender commission and/or broker fees) in exchange for deal
placement. The HUB will determine appropriate broker fees if the deal warrants it.
For second or third mortgages, in addition to possible commission from the Lender, the following
minimum broker fees would apply (in addition to lender fees):
$0-$25,000 $300
$25,001 – $50,000 $500
$50,001 – $75,000 $750
$75,001+ $1000+
You’ll benefit from having access to various institutional and private lenders,
Expert handling of your non-prime application,
Control of the borrower signing and documentation gathering process,
The ability to fund more deals!
For any questions on the program feel free to e-mail althub@rmabroker.ca or
call 905-581-0183 or 1-866-888-2746 toll free.