Today we are sharing some exciting news regarding the progress we have made with the Filogix Mortgage Marketplace. We are very pleased to announce that our marketplace is now open to Alternative, MIC and Private Lenders.
As your trusted connectivity provider, we have been collaborating with several industry players creating new, innovative connectivity solutions that will simplify access to alternative, MIC and private lending offerings. We welcome myBrokerBee and Newton as the first of several providers to the marketplace. To learn more or to get set-up on the Filogix Expert Alternative, MIC and Private Lender dropdown, lenders can choose to contact Filogix or they can reach out to the partner of their choice.
As we continue opening up connectivity to alternative, MIC and private lenders in the coming months, we plan to remove the ability to print the Mortgage Application, and Mortgage Summary from Expert.
We will provide notice to our partners prior making any major changes to ensure you have the time needed to start the process to join the Filogix Mortgage Marketplace.
Stay tuned for more information regarding updates to the Expert platform and our Filogix Mortgage Marketplace.
The Filogix Mortgage Marketplace is Open, providing choice for all!
The Filogix Team
Come visit Filogix in booth #14 at the MPC Conference! We will be joined by some of our Mortgage Marketplace Partners, who will be rotating through our booth to showcase their solutions and answer your questions!
Please see below for our Partner Showcase schedule:
Sunday, November 17
5:00-6:00pm Value Connect
Monday, November 18
Please be advised that Expert will undergo maintenance starting at 12:01 AM ET, Sunday September 29 and will be completed no later than 6:00 AM ET, Sunday, September 29. Expert will be unavailable during this time.
With the September 2, 2019 launch of the Federal Government’s First-Time Home Buyer Incentive (FTHBI) program, the Mortgage Insurers (CMHC, Genworth and Canada Guaranty) have been in extensive discussions with Canadian Mortgage Lenders in regards to the manual procedures required for a Lender to request the program from the Insurer.
Similar to this manual request process between the Lender and the Mortgage Insurer, there will also be a manual request process between the Mortgage Broker and the Lender for this program. Based on our discussions with many Lenders, here is a general recommendation regarding how to reflect the FTHBI program request on your Filogix Expert mortgage application:
1. Break down the Down Payment Sources Use the capability within Filogix Expert to break down the down payment sources to reflect the portion eligible under the program, with the ‘Description’ area being a free-format text entry field to indicate this. This down payment breakdown is currently included with the data sent to the Lender:
2. Use the “Lender Notes” Function Use the Lender Notes function within Filogix Expert to request application of the incentive program to the mortgage request. The content in the Lender Notes section is currently sent to the Lender with the mortgage request data:
It is the responsibility of the Mortgage Broker to:
Information on the First-Time Home Buyer Incentive program including eligibility calculators and consumer consent form can be found on the following website: https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive
Please be advised that a new release of Expert will be launched this weekend. The update process will start at 9:00 PM ET, Saturday, August 24, and will be completed no later than 6:00 AM ET, Sunday, August 25.
Please click here for the full release notes.
As part of the user’s responsibility for an Expert release, it is highly recommended that you clear your browser cache. Instructions for clearing your browser cache are available from the Expert sign-on page and here.
Please be advised that Expert will undergo maintenance starting at 12:01 AM ET, Sunday August 18 and will be completed no later than 6:00 AM ET, Sunday August 18. Expert will be unavailable during this time.
Please be advised that Expert will undergo maintenance starting at 12:01 AM ET, Sunday July 28 and will be completed no later than 6:00 AM ET, Sunday July 28. Expert will be unavailable during this time.
Equifax has advised that between 12:01 AM to 2:00 AM Eastern on Friday July 12, access to their service may be offline. As a result, any requests for Equifax credit bureaus through Filogix Expert may be unsuccessful during this time.
Please be advised that Expert will undergo maintenance starting at 12:01 AM ET, Wednesday July 10 and will be completed no later than 2:00 AM ET, Wednesday July 10. Expert will be unavailable during this time.
Please be advised that Expert will undergo maintenance starting at 12:01 AM ET, Friday July 5 and will be completed no later than 2:00 AM ET, Friday July 5. Expert will be unavailable during this time.