Things to Know About a Co-Brokered Mortgage

When a mortgage is co-brokered, its original Mortgage Request Details are removed from your deal because that mortgage is now the responsibility of the other broker. As such, you will not be able to enter Mortgage Request Details for the mortgage type (i.e., first, second, or third) that was co-brokered. In addition, in the Mortgage Information section (below), the co-brokered mortgage is designated as Existing and is protected from change. The Application Purpose also cannot be changed.

 

 

If it is required for you to access the mortgage type (i.e., first, second, or third) that has been co-brokered, then you will be required to break the link to the co-brokered mortgage. See Breaking Link to a Co-Brokered Mortgage.

 

Also note that the co-brokered mortgage is reflected in the Other Existing Mortgages section at the bottom of the Application Edit screen. Note that you can edit the fields for your own purposes, but they do not affect the mortgage on the co-broker's side.