Here’s how we audit the files:

•    Mortgage checklist – should include lawyer contact information
•    Commissions Record Sheet
•    Application – along with signed and dated Consent Form
•    Client Suitability Form – signed and dated by the clients
•    Approval – signed and dated where necessary
•    Insurance – signed and dated; accepted or waived
•    Cost of Borrowing-Conflict of Interest
•    Amortization schedule – initialed or signed by client
•    Lawyer contact info – should be on the File Checklist
•    Photo ID – driver’s license, passport
•    Credit bureau
•    Letter of Direction – if a broker fee has been charged

The loan code on the:   record sheet, application, approval, insurance, disclosure, am schedule and credit bureau should all match each other