The following is an excerpt from an open letter written to mortgage brokers from Scotiabank Mortgage Authority’s vice president Garry Morrison.
The spread of COVID-19 has raised concerns for all of us. First and foremost, I hope that all of you and your families are staying safe and healthy during this unprecedented time.
The COVID-19 pandemic has also had a major impact on the economy as a whole and on each of us individually, as we go about our day-to-day professional lives. I wanted to take an opportunity to provide an update on how Scotia Mortgage Authority is addressing some top-of-mind concerns you may have.
We are open for business
Our National team of Broker Relationship Managers and Broker Lending Managers is entirely home-based. We have also transitioned our Mortgage Funding Officers to a home-based model. The entire team at Scotiabank is ready and able to conduct business with you.
We are offering Mortgage Deferrals to customers experiencing hardship.
We can defer mortgage payments by up to 6 months. The process to request a deferral is straightforward and does not require documentation to confirm hardship. It is available for primary residences plus up to 3 additional properties per customer (including rentals). Customers can request a mortgage deferral by calling 1-800-4SCOTIA or by visiting our new online portal for mortgage deferral requests, found at http://www.scotiabank.com.
We are committed to honouring existing mortgage approvals for customers impacted by COVID-19.
If an income condition has already been satisfied, it will not be re-opened unless there are other material changes to the application. For new applications, our standard income verification policies will apply.
Thank you for your ongoing support and partnership during these challenging times. We have a long road ahead, but I am confident that we will get through it together.
Need to get in touch? Contact me here or book a call directly into my calendar below.
