Monoline Lenders

Monoline Lenders are lending institutions that do not have store fronts such as the 5 bank banks (RBC, TD, Scotia bank)

Such Monoline lenders include:

-First Nationallogo

-MCAP 9480_mcap_equipment_finance_255255255

-Street Capital SCFLogo_tm

Not only can Brokers work with 3 of the 5 major banks, we also have access to monoline lenders. Here are some reasons that make monoline lenders favorable to some.

  1. Banks have many different products to sell other than mortgages. Monolines focus solely on mortgages. Monolines offer products that local branches might not have such as self-employed, rental, non-income qualifying products.
  2. Monolines do not have to pay for storefronts therefore they are able to cut costs and offer reduced rates.
  3. Monolines offer 120-day rate holds.
  4. Monolines are Canadian lenders that are supported by investors, major banks being one of them.
  5. Monolines use a centralized approval process. This allows them to turn around deals quicker (usually anywhere from 4 hours to 2 days).
  6. Monolines tend to be more flexible when it comes to lending. Also for what type of properties the mortgage is for.

I am not saying the major banks mortgage products are inferior to monoline products I am just explaining why monoline lenders can be beneficial to some.

For more information about what lender is right for you contact me at [email protected] or visit my website at