Approval & Fulfillment
We make it easier to get from approval to funding.
Getting approved is only the first step in meeting your client’s needs.
We’ve streamlined the fulfillment process to make sure they get money in their hands as quickly as possible with the least amount of hassle.
1
Approval
When your client is approved, they will receive a formal mortgage commitment from Magnetic Capital Group. Magnetic is Switch’s primary lender and mortgage administrator (FSRA #12781). Commitments are sent though Adobe E-Sign. Your client can accept the terms on their phone, mobile device, or computer with the click of a button.
2
Acceptance
From the time your client receives their commitment, they have 3 business days to shop around before signing it back. In addition to signing back the commitment, your client is required to pay a legal retainer to Magnetic’s law firm (via email money transfer) so the mortgage can be instructed. Detailed instructions will be provided with the commitment.
3
Conditions
Once the commitment is signed and the legal retainer is received, we will instruct the file to our lawyers. We can close within 5 days of the last condition being met so timing will be up to you and your client. Our fulfillment team will keep you up to date with a list of what’s outstanding and the sooner we have everything, the sooner your client gets their funds.
Make the Switch!
We make private mortgages easier to get. See for yourself why so many brokers are making the Switch.
