Mortgage Details Tab

Mortgage Products - Click the Mortgage Products link to view a list of the mortgage products available in econveyance.

Preview Form E - Click the product name to display a preview of the Form E that will be attached to the Form B when generated from econveyance. You may see the word VARIABLE in areas of the Form E preview. This is where variable information entered through the Form E Details link will appear.

Last Updated by Econveyance - The date displayed in this column is the date that this product was last updated by econveyance. This date is displayed to assit you in verifying that the mortgage products available in econveyance are up to date. If the Last Updated by Econveyance date is later than the lender's modified date, you can be assured that the econveyance mortgage product is up to date.

We use various methods to ensure that mortgage products in econveyance are up to date, and where necessary, will make use of more than one method in order to ensure the accuracy of a specific product or document.

Where the Lender has documents available on their website:
1.    We check the lender websites on a regular basis. Many lenders indicate on their website any revisions to their mortgage products as well as the date of revisions. We make any necessary revisions in econveyance and note the date that the revisions were made. This date is displayed in the Last Updated by Econveyance column.
2.    Where the mortgage document contains a version number and/or date we compare that information to what we have in econveyance. If there has been a change, we make the corresponding change in econveyance and note the date the change is made. This date is displayed in the Last Updated by Econveyance column.
3.    Some Lenders do not indicate when revisions have been made to their mortgage products. For those lenders, we access each mortgage product and check the Document Properties. If the modified date does not match our Last Updated by Econveyance date, we review the document for any changes, make the necessary changes in econveyance and note the date the changes are made. This date is displayed in the Last Updated by Econveyance column.

Where the Lender does not have documents available on a website:
4.    When it comes to lenders that do not have websites or do not have their documents available on their website, we rely on client feedback. If we receive a specific mortgage product or document from an econveyance member with a request to add it to econveyance ont heir behalf, we do so and we note the date. This date is displayed in the Last Updated by Econveyance column.

Select Product - Click on the word Select in the Select Product column to select the appropriate product. Once selected, the product will appear at the top of the list of mortgage products with a status of Selected.

Form E Details - Once the mortgage product is selected, click on the Form E Details link to view any variable information that is required for the particular product. Answer any questions as shown on the screen. Note: The Additional Item 5 Information and Additional Item 10 Information boxes are to allow the user to enter information that will not fit into the fields on EFS Form B Mortgage. These fields may be used whether or not a mortgage product is selected as is the case when dealing with private lenders.

Example:  The lender required that the Interest Rate field be completed with "Prime Plus Two Per Cent Per Annum Based on the Current Prime Rate". In the Interest Rate field on the Mortgage Details tab enter "See Schedule" and in the Additional Item 5 Information box in the Form E Details area enter 
"Item 5(b) Interest Rate: 
Prime Plus Two Per Cent Per Annum Based on the Current Prime Rate

Lender Name as it will appear on Form B - Some Lenders require their mortgages be registered in a name other than the name they instruct under. Example: Street Capital provides mortgage instructions and require that you report to them however they require that the Form B Mortgage show the name of the lender as ComputerShare.  When you select a mortgage product, the Lender Name as it will appear on Form B will populate for you based on the information we have for the particular lender and mortgage product. This field is not changeable by you.

Principal Amount - Enter the principal amount of the mortgage. If your mortgage will register with alternate principal wording in the principal amount field, enter an amount in this field that you would like to see on your statement of adjustments or order to pay. 

Alternate Principal Wording - Enter the alternate principal wording as it should appear on the Form B Mortgage. Example: See Schedule or All Obligations. 

Amount Being Advanced (If different from Principal) - Lenders often instruct you to register a mortgage in one amount and will be advancing a different amount. This field can be used under those circumstances. Any amount entered into this field will be shown on your statement of adjustments or order to pay instead of the amount intered in the Principal Amount field.

Interest Rate - Enter the interest rate.

Interest Adjustment Date - Select the interest adjustment date from the calendar widget that appears when you click into the field or type any appropriate wording such as "N/A"

Interest Calculation Period - Enter the interest calculation period.

Payment Dates - Enter the payment dates (eg. 1st day of each month or every other Friday)

First Payment Date - Select the first payment date from the calendar widget that appears when you click into the field or type any appropriate wording such as "N/A"

Amount of Each Periodic Payment - Enter the amount of each periodic payment. Note: As this field can contain both words or dollar amounts, you are required to enter the dollar sign and commas when entering a dollar amount.

Interest Act Statement - Enter the applicable interest act statement.

Last Payment Date - Select the last payment date from the calendar widget that appears when you click into the field or type any appropriate wording such as "N/A"

Assignment of Rents - Select this option if the lender requires an assignment of rents.

Where is A/R Located - Select the location of the assignment of rents from the drop down.

A/R Page # - Enter the page number where the assignment of rents is located. Note: You must enter the words Page if applicable.

A/R Paragraph # - Enter the paragraph or section number where the assignment of rents is located. Note: You must enter the words Paragraph or Section as applicable.

Place of Payment - This field will default to Postal Address in Item 4 as this is the most common option. This can be edited by you if required.

Balance Due Date - Select the balance due date from the calendar widget that appears when you click into the field or type any appropriate wording such as "On Demand"

Floating Charge - Select this option if you are registered a floating charge.

Current or Running - Select the appropriate option from the drop  down.

Mortgage Terms Type - Select the appropriate option from the drop down.

DF Number - Enter the appropriate document filing number of the mortgage terms if you have selected Standard in the Mortgage Terms Type field.

Additional or Modified Terms - Enter any additional or modified terms that are not included in the Form E Schedule and that will fit in the space provided for this field on the EFS Form B Mortgage.