WHEREAS by Rule 65(2) under the Real Estate Act , S.A. 1995, c. R-4.5, the Real Estate Council of Alberta (the “Council”) has the power, duty and responsibility to prescribe, adopt and approve the form for and information contained in the Lender/Investor Disclosure Statement which a mortgage agent shall deliver to a prospective lender or investor before accepting money to be used for making a loan or an investment in a mortgage;
THEREFORE BE IT RESOLVED THAT:
The Council hereby prescribes, adopts and approves the form attached hereto as Schedule “A” and the information contained therein as the form and information required for the Lender/Investor Disclosure Statement which a mortgage agent shall deliver to a prospective lender or investor before accepting money to be used for making a loan or an investment in a mortgage.
DATED at Calgary, Alberta on this 9 th day of July 1996.
SCHEDULE “A”
REAL ESTATE ACT
LENDER/INVESTOR DISCLOSURE STATEMENT
This form must be completed in duplicate before a registered mortgage broker accepts money to be used for making a loan or an investment in a mortgage in accordance with the Real Estate Act .Name of Registered Broker
Address
Telephone
Name of Lender/Investor
Address
Telephone
Name of Mortgagor
Address
Telephone
1.Detailed description of property (legal and municipal)
2.Terms and Conditions of Mortgage
(a)Principle amount of the ____________________________ (1 st , 2 nd , 3 rd )
mortgage to be repaid $____________________________
(b)Annual percentage interest rate _____________ %. When annual percentage rate is subject to variations, it shall vary in the following manner and conditions:
(c)Original amount of mortgage $____________________ Date ________________________
(d)Term ___________________; Amortization _____________ years
(e)Amount of monthly payment $______________________________
(f)Maturity date __________________________________________
3.The charges, fees, etc. are made up as follows:
Mortgage Broker fees
$ ______________________
Estimated legal fees
$ ______________________
Other charges or fees
$ ______________________
Total
$ ______________________
4.The terms and conditions of repayment before maturity of the mortgage are as follows:
5.Date of appraisal _________________________________ Appraised value $___________________
Name of appraiser and qualifications:
6.Payments on all mortgages on the property are current except for the following arrears:
7.A copy of duplicate certificate of title was provided on (date) _______________________________
I, ________________________________________________________ of ____________________have
fully completed the above statement form in duplicate and have provided a copy to the Lender/Investor on
(date) __________________________.
(Signature of Mortgage Broker Designated Representative)
I/We sign this statement form in duplicate this _______ day of _____________________, 19 _____ and
I/we hereby acknowledge receipt of the fully completed copy of this statement form.
(Signature of Lender/Investor)
