On a t4a slip in b - Study guides, Class notes & Summaries

Mortgage Agent Final Exam prep 2024/2025 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. - answera) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still employed and that the YT...

Mortgage Agent Final Exam prep 2024/2025 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. - answera) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still employed and that the YT...

Mortgage Agent Final Exam prep 2024/2025 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. - answera) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still employed and that the YT...

Mortgage Agent Final Exam Prep 2023 | Questions with 100% Correct Answers. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. - ANSWER a) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is...

Mortgage Agent Final Exam Prep Questions with Answers 2023/2024 (Graded A+). What is a Certificate of Independent Legal Advice and under what circumstances would it be required? - ANSWER This document proves that an individual has been given advice by his or her lawyer with regards to the proposed mortgage. It is usually required when the proceeds of a refinance are being provided to a third party and not the Borrower or if the loan is a reverse mortgage. On a T4A slip in Box 61 what inform...

Mortgage Agent Final Exam prep | 101 questions and answers 2023/24 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. - a) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still empl...

Mortgage Agent Final Exam prep 2023 Graded A+ 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. a) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still employed and that the YTD i...

Mortgage Agent Final Exam prep 2023 Graded A+ 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. a) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still employed and that the YTD i...

Mortgage Agent Final Exam Practice Questions with 100% Correct Answers 2023/2024. What information must be in a Job Letter for it to be acceptable to a Lender? - ANSWER It should be on company letterhead, have the company address and contact information, list the Borrower's position, income, how it is paid (i.e. salary or hourly), the frequency of payment (i.e. weekly), if the person is full or part-time and/or on probation, the start date and the writer's information and contact informat...

Mortgage Agent Final Exam prep 2023 Graded A+ 1. Briefly describe when a Mortgage Agent would be required to obtain the following documents from an applicant. a) T4: typically when a Borrower has salaried or hourly employment income b) T4A: typically when a Borrower has commission income c) Job Letter: typically when a Borrower's income or position information is required d) Paystub: typically in addition to a Job Letter to confirm that the individual is still employed and that the YTD i...