Insurers, CMHC, Genworth, and Canada Guarantee already had programs in place with the banks/lenders that allowed them to defer up to 6 monthly payments. Here are some of the requirements.
- Original insured loan amount is not exceeded
- Request to cap payments is received prior to Sept 13, 2020
- Bank/lender confirms the capitalization is being applied reasonably to help mitigate short-term financial difficulty resulting from COVID-19.
The programs are facilitated through the banks/lenders and therefore you should be directing your clients to contact their lender directly for further assistance. Some banks/lenders have their own assistance options as well.
Here is a list of customer service numbers of the lenders and banks that we deal with.
ATB 1-800-332-8383 B2B 1 800 263 8349
Bridgewater 1-866-243-4301 CMLS 1-888-995-2657
Optimum 1-866-441-3775 Equitable 1-866-407-0004
First National 1-888-488-0794 Haventree 1-855-272-0051
Home Trust 1-855-270-3630 ICICI 1-888-424-2422
Manulife 1-877-765-2265 MCAP 1-800-265-2624
Merix 1-877-637-4911 Marathon 1-855-503-6060
RFA 1-877-416-7873 RMG 1-866-809-5800
Scotia 1-800-472-6842 Servus 1-877-378-8728
Street Capital 1-866-683-8090 TD 1-866-222-3456
Please be safe and healthy in these trying times.
The Management and Team of Brokers for Life Inc.