Broker Disclosures

1. Licensing and Registration

Mortgage Broker (British Columbia): Licensed by the BC Financial Services Authority (BCFSA), license #504479. bcfsa.ca

Alberta: Licensed to conduct mortgage brokering activities in Alberta in accordance with the requirements of the Real Estate Council of Alberta (RECA). reca.ca

Brokerage affiliation: Landmark Mortgages operates as part of the BRX Mortgage network. BRX Mortgage is a national mortgage brokerage and broker network that provides our brokerage with lender access, technology, compliance support, and back-office infrastructure. Day-to-day mortgage advice and the broker-client relationship are with Kyle and Landmark Mortgages.

Note on documents: Depending on the lender and the file, the broker name appearing on a mortgage commitment or submission may be Kyle, Landmark Mortgages, BRX Mortgage, or the agent of record at the lender. The brokerage relationship and the licensee responsible for your file remain the same regardless of which name appears on a given document.

2. How We're Paid

On most residential mortgage transactions, we are paid a finder's fee directly by the lender once your mortgage funds at closing. This is sometimes called a “lender-paid commission.” In these cases, you do not pay us a fee out of pocket, and our compensation comes from the lender.

There are some situations where a borrower-paid fee may apply. The most common are:

• ·Private and alternative (MIC) lending, where the lender does not pay a finder's fee, or pays a reduced one;
• ·Files involving credit rebuilding, complex income, or specialized commercial scenarios; and
• ·Certain refinances or equity takeouts where the lender's compensation does not cover the work involved.

Fees are only charged on closing of the loan. If a borrower-paid fee applies to your file, the fee is earned and payable only when your mortgage actually funds. If the deal does not close, you do not owe us a fee. Before we proceed, we will:

• ·Disclose the potential fee to you in writing;
• ·Provide a written engagement or fee agreement that sets out the amount, the closing-trigger, and how it is paid out of the funded mortgage; and
• ·Obtain your signed acknowledgment before any work that depends on the fee structure begins.

For a more detailed explanation of how mortgage broker compensation works in Canada, including lender-paid commissions, trailer fees, and borrower fees, see our page: How Mortgage Brokers Are Paid.

Additional written disclosure of compensation, lender relationships, and any conflicts of interest is provided to all BC clients at the time of signing the mortgage application, as required by BCFSA. Alberta clients receive disclosure in accordance with RECA requirements.

3. Lender Relationships

Lender access: We have access to 50+ lenders across banks, credit unions, alternative lenders, and private lending institutions in British Columbia and Alberta.

No exclusive lender relationships: We are not exclusive to, owned by, or contractually obligated to recommend any particular lender. We are independent.

How we choose a lender for your file: Our recommendation is based on the combination of factors that best fits your situation, including:

• ·Interest rate and overall cost of borrowing;
• ·Mortgage product features (prepayment privileges, portability, assumability, penalty calculation, etc.);
• ·Qualification fit (income type, credit profile, property type and location);
• ·Lender turnaround times and reliability of approval; and
• ·Your stated priorities (e.g., lowest payment, maximum flexibility, fastest close, longest rate hold).

Where two or more lenders are a comparable fit, we will explain the trade-offs and let you choose.

4. Rates, Pre-Approvals, and Approvals

Quoted rates and pre-approvals are not guarantees of financing. Specifically:

• ·Any rate quoted verbally, by email, or on this website is indicative only and is subject to change until the lender issues a written rate hold or commitment.
• ·A pre-approval is a preliminary review based on the information provided. It is not a commitment to lend, and final approval depends on a full application, property details, appraisal (if required), income and credit verification, and the lender's underwriting.
• ·A mortgage is binding only when (a) the lender issues a written commitment, (b) you accept it in writing, and (c) all conditions in the commitment are satisfied within the required timeframe.

5. Conflicts of Interest

We are required by BCFSA and RECA to identify and disclose any actual or potential conflicts of interest, and we take this seriously. Examples of potential conflicts include:

• ·A material relationship with a lender, referral source, or other party to the transaction;
• ·A personal or family interest in the property or transaction; or
• ·A referral arrangement that could affect our recommendation.

Where a conflict of interest exists or could reasonably be perceived to exist, we will disclose it in writing before you sign anything, and you will be free to choose whether to proceed, seek a second opinion, or work with another broker.

Independent advice: You always have the right to seek independent legal, tax, accounting, or financial advice before signing a mortgage commitment or any related document. For larger or more complex transactions, including refinances with significant equity takeouts, joint-venture purchases, private lending, and self-employed or corporate-borrower files, we strongly encourage you to do so.

6. Regulatory Information

Landmark Mortgages is regulated by the BC Financial Services Authority (BCFSA), license #504479, and is licensed to conduct mortgage brokering activities in Alberta in accordance with Real Estate Council of Alberta (RECA) requirements.

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