BC Sub-mortgage Broker Practice Questions - BC Mortgage Broker (Sub-mortgage Broker) Course Exam

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Under the Mortgage Brokers Act and Regulations, when must a licensed mortgage broker provide the Form 9 'Disclosure of Risks' to a borrower for a residential mortgage?

Only if the mortgage involves private lending. After the mortgage has funded and conditions are removed. Before the borrower enters into a mortgage or accepts a commitment for a mortgage arranged by the broker. At the initial meeting with the borrower.

Correct Answer:

Before the borrower enters into a mortgage or accepts a commitment for a mortgage arranged by the broker.

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