85% residential 2nd mortgage to payoff multiple collections AND $24,000 of residential property tax arrears, beacons 560 and 546

Request: Collection agency referred deal to DLC agent in order to refinance house equity to settle various collections and stop property tax sale with payment of massive tax arrears. Total required funds to accomplish goal was $49,000.00


  • Proceeds required to pay off and/or settle six derogatory credit accounts
  • Proceeds required to pay off $24,000 of residential property tax in arrears (many years’ worth)
  • Both applicants credit very bruised with beacons of 560 and 546
  • Smaller Alberta community location of approx. 25,000 population


  • Deal was referred to DLC Agent who in turn referred the deal to Plan B to assist in locating financing and communicating with consumer
  • Deal was referred to Plan B on the 17th who had direct questions and communications with the consumer
  • Situation was digested and lender sourced out by the 20th
  • Approval was obtained and presented to consumer directly on 26th
  • Approval yielded enough funds to fully pay property tax, settle all pressing collection and net the consumer approx. $6,000 in pocket
  • Referral source pleased with full payment, client pleased with finances once again under control with monthly payments that fits the budget, referring DLC agent has happy client and referral source for life
  • Referring DLC agent to receive 300bps commission

100% Purchase Price Financing of Owner Occupied dwelling, thin credit, small community

Request: Private Sale where residential purchase price was set at $180,000 and consumer was in need to finance the entire $180,000 = 100% purchase financing


  • No down payment
  • Seeking approval to finance a purchase on a higher appraised value vs. the set purchase price
  • Credit was thin with only ONE active trade line and this trade line had 8 x 30 days late and 2 x 60 days late reporting
  • All other trades were years dated and inactive but did have a history of various lates
  • Limited selection of lenders due to the geographic location of this smaller town coupled with the request to finance without conventional down payment


  • DLC agent referred the B deal to Plan B on a Friday morning
  • Approval was located and commitment given on the next business day Monday
  • Client reviewed options and requested application was shopped a bit more
  • Plan B’s experience assured there was no other options for this approval. Objections were overcome and terms were sold directly to the client. Both Plan B and DLC agent were involved in the sales process with the client
  • Terms and mortgage were successfully sold to client
  • Much hand holding and explaining to this needy client was required and essential all through the application to funding process
  • Mortgage was funded 3 weeks later on the contractual closing date without any issues
  • Consumer was thrilled with being a now 1st time homeowner and communicated much praise and appreciation to both Plan B and the DLC agent
  • DLC agent now has a happy mortgage client for life who will for sure be referring many more clients to DLC
  • DLC agent was able to offer an approval when they were uncertain where to originally find one thus making a powerful business statement AND receive a commission check for 70bps for a 1 year term

Rough condition mobile home, remote lending area, refinance with 537 Beacon


  • Applicant going through marital break down, required refinance to consolidate and settle with spouse
  • Existing mobile and land was free and clear of any charges
  • Consolidate all debts seen on credit report, buy out spouse and ideally raise some funds for house improvements


  • Property location in very small rural town …. Lillooet BC
  • Mobile home
  • Condition of dwelling very rough and age is very old. Older the mobile = harder the approval
  • No separation agreement in place
  • Credit very thin and bruised. Beacon extremely low. Suspect to be a previous bankrupt based on the Equifax “on file” date


  • DLC agent assigned application to Plan B on late afternoon of a Thursday
  • Approval sourced out early in morning of the immediate next Tuesday
  • Appraisal obtained the next day from approval, appraisal read very rough, dated and weak curb appeal
  • Negotiations and package presentation to lender still obtained the approval but at a slight higher rate.
  • Deal was committed on that weeks Friday, sold directly to client over the phone, signed documents returned on the Monday
  • File instructed on Tuesday
  • Lender approved the request but in addition agreed to INCREASE the approval so a renovation holdback could be implemented
  • Client was able to consolidate all his debts into one easy payment, separation buy out was able to be complete, plus extra funds were raised so applicant will be able to upgrade the condition o the mobile
  • 1st mortgage rate was 11.50% with a 4.50% lender fee … client was very pleased with the approval and gladly accepted the terms. Very happy DLC client
  • Referring agent to receive 312bps and loyal client for life AND all the time involved in this approval process

efinance to payout Genworth foreclosure deficiency balance from a prior rental property

Request: Applicant residing in principal residence was in need to address and payout a Genworth collection resulting from a foreclosure deficiency balance from a rental house from years back. Principal residence is owned and occupied with spouse….Genworth collection stemmed from rental house owned solely with a brother. Failing to address the collection from the rental house was going to threaten the foreclosure of the principal residence. You can imagine how happy the wife was to be using the equity in the matrimonial house to settle a debt for her husband and his brother.


  • Proceeds required from a mortgage refinance to payout a large collection resulting from a foreclosure with a new foreclosure looming.
  • The Genworth balance and account was assigned to a lawyer’s office who was executing the demand and preparing for legal action should the debt not be settled
  • The outstanding Genworth deficiency balance was $261,000.00
  • Income was limited as the wife was only part time employed even though the spouse was full time employed
  • Credit was very bruised and beacons both well below 600
  • TDS and serviceability was much challenged based on verified income. Reviewing bank statements reflected the applicants were living in overdraft and living beyond their means even before the new mortgage was arranged to address the refinance
  • Property located in smaller residential community which limited lenders


  • DLC agent assigned the file to Plan B on a Monday where Plan B took on the file and reviewed the situation the same day
  • Initially Plan B decided to not take this file on based on a review of clients personal bank statements, spending habits and running balance (or lack thereof)
  • Upon further review and planning Plan B created a plan that would have addressed the collection, consolidated some debts to improve the monthly cash flow ….. the deal now made sense IF the debt could be negotiated and settled for a dramatically lower amount
  • Plan B reviewed the “plan” directly with the clients and they agreed it made sense, that it improved their monthly financial situation and gets the looming collection of their back….if it can be settled. Clients gave Plan B the authorization to negotiate directly with the lawyers in efforts to settle
  • After a week of negotiation, the $261,000 collection was settled for $70,000.00 !!!!!!!!!!!!
  • With the plan and settlement in place, Plan B set out to find the best 2nd mortgage approval
  • Approval was located 7 business days after receiving the file from the DLC agent
  • Client was thrilled and relieved with the outcome and the general improvement of their financial situation
  • Referring broker offered to reduce the broker commission in efforts for the applicants to receive larger net proceeds
  • Referring DLC agent received 87bps, a happy referring client for life and massive amounts of saved time

80% rental purchase on stated income

Request: DLC agent seeking 80% financing where client had 75% approval with another brokerage. Requesting 80% to help client close presale rental condo purchase and help DLC agent win the deal away from another brokerage and agent. Presale contract was written September 2010 and required to close April 2013

Challenge: Required use of stated income on a rental purchase. Appraised value came in slightly lower than original purchase price from 2010. One of the applicants (wife) had multiple income sources with very little documentation. High level of cash income for wife. Husband is self-employed and home based. Client already approved and signed up with another agent and brokerage. At time of closing, client and his family was in and out of town with travel. Timing was crucial to adhere to clients traveling schedule.


  • DLC agent referred deal to Plan B on a Tuesday to assist in finding approval to win this deal away from another brokerage
  • Plan B negotiated with the SAME LENDER who approved the 75% from the original non DLC agent, an 80% approval on the Friday of same week of receiving the deal. Once exclusivity was granted from the client, the lender issued the 80% approval
  • Plan B communicated directly with the client to facilitate all lender conditions with ease and efficiency and to ensure lawyers and instructions were on track to adhere to clients schedule and closing date
  • DLC agent was alleviated from the time required to execute this purchase, won the deal and the client, received the accolades for being able to obtain approval the other brokerage could not.
  • Upon closing the consumer emailed the DLC agent and Plan B the following: “Thank you Guys!
  • truly appreciate your help and professionalism on this project”
  • DLC agent received commission check for $3,268 = 63bps = 13bps MORE than original non DLC agent was to receive on their approval.
  • More LTV, same rate, more broker commission, extremely pleased and impressed consumer, DLC client for life.

422 and 529 beacon, mobile home on pad rent purchase on native lease land

Request: Help locate financing for a pad rent mobile home purchase for a couple who moved into a new town for a new employment opportunity. Subject is also located on native lease land.

Challenge: Very bruised credit for extremely low beacons, previous ex bankrupt, payday loan collections after bankruptcy, current active trades in major derogatory status
Income is from a job that has not even started yet as they are moving towns. Hence weak stability with new living location with a new employer
Subject property was a mobile home in a trailer park with a monthly pad rent
Subject located on native leased land


  • DLC agent referred deal to Plan B on a Tuesday afternoon
  • Plan B sourced out an approval which was presented to client on that same weeks Thursday
  • Appraisal was the only lenders condition
  • Client understood the challenges the file presented and happily accepted the terms as they fell within their budget
  • 1 year term @ 10.50% with 1.50% lender fees
  • Referring broker received amazing accolades and a 415bps commission check

75% LTV Rental refi on stated income where applicant has house portfolio of 27 HOUSES

Request: Refinance out of an existing 9% private lender into a lower rate lender to improve cash flow and reduce interest costs. This to be done with a stated income applicant who has 2 BFS entities AND a rental portfolio of 27 houses all presently mortgaged with A lenders (banks and credit unions)

Challenge: requested 75% LTV for a stated income rental program. Large real estate portfolio way over most A lenders allowance. Stated income on financials and personal tax returns that only show 30K net income. Finding approval terms that benefit the mortgage from being moved to a new lender. Required rate, fee and legals required to be a lower APR than existing private who will renew at no further cost.


  • Lender was sourced out and approval issued on the SAME DAY Plan B commenced working the application
  • The referring DLC agent simply provided Plan B a hand written DLC application along with some supporting documents.
  • Plan B communicated with the client directly to complete the application process and assure an approval should be obtainable
  • Original approval was for 70% LTV …. Appraisal came in at a lower expected value which increased the final LTV to 75%
  • Lender agreed to honour the original approved amount based on Plan B’s strong relationship and high volumes
  • Client very pleased with the approval and is now set up to save over $30,000 in the 1st year alone. Savings in the form of reduced monthly payments and interest rate charges
  • Referring broker to receive a commission for $2,000.00 which is likely 12bps higher than if doing the deal himself.

Mortgage arrears, Property tax sale notice, 487 beacon – refinance funded under 6% rate

Request: Divorced applicant looking to refinance a small community SFD to consolidate existing credit union mortgage, outstanding property tax, all consumer debt that was all in a derogatory state and pocket some breathing room cash, all into a new 1st mortgage. Goal was to remove arrears and collection calls and lower total payments.

Challenge: 3 years of property taxes were outstanding with a property tax sale notice registered on title. Existing mortgage was 3 payments in arrears. All consumer debt was actively in arrears or charged off. Beacon UNDER 500. Income from various sources from a part time job, support payments and side cash BFS entity with no government documents to verify.


  • DLC owner referred request and application to Plan B on Wed December 19th.
  • Best approval was located and committed on Thurs December 20th
  • Approval was presented to client and signed back on Friday December 21st
  • File funded without hitch in early January 2013.
  • File was approved with a 1 year term @ 5.99 and 2% lender fee
  • Client was thrilled to remove the mortgage arrears stress and relieved to have her house removed from the tax sale notice.
  • New payments were approx. the exact same size as the existing credit mortgage payments
  • Referring broker has amazed client for life and received 65bps commission which was 15bps higher than if did the deal themselves.

Private Sale in Remote Alberta, no downpayment, financed 100% of purchase price

Request: Finance residential house purchase in small bedroom Alberta community via a private sale. Agreed purchase price well under market value. Applicant has ZERO downpayment and required to finance 100% of the agreed purchase price.

Challenge: Location of dwelling. The need to make sense why vendor would be selling so low under market value. Applicant has no vested interest with no downpayment of any sort. Applicant only 3 months on the job as a courier driver. Applicant has very limited credit all under 1 year but on file since 1978. TDS over 50%


  • DLC agent referred the deal to Plan B on a Monday after attending a DLC Head Office training seminar
  • Plan B communicated with both the referring agent and the applicant directly to ensure a full understanding of the situation and transaction. A strong “makes sense” understanding was required for packing to lenders
  • Application was then presented to 3 private lenders/investors
  • 3 quotes were presented back to Plan B with the winning quote being committed on Friday of the same week of receiving application
  • Signing package was given to the referring broker who signed up the client accepting the approval
  • Purchase agreement, ILA from seller and appraisal were only conditions
  • 1 year term @ 9.75% with a 1.40% lender fee on a 30 year amortization
  • Referring broker to receive 68 bps on a file he would have normally passed on until he attended a presentation of What Plan B is and how it can help your business

Very heavily shopped application seeking Purchase Financing on Burnaby 900K residence

Request: Family of parents and daughter seeking 1st mortgage financing to 75-80% LTV with credit below bank guidelines, stated income and unique down payment source. In efforts to find any approval at acceptable terms, the applicants hired numerous brokers and deal has been shopped to many B and private lenders.

Challenge: 3 brokers have been working on the file for approx. 2 months before the deal landed in a DLC agents hands. The DLC agent quickly discovered that most of the main Alt A lenders have already seen the deal. Most have been declining based on the source of the down payment being difficult to show history and comes from a unique source of a religious trust fund. Husband is BFS on stated income. Wife and daughter work part time job with very low documentation to reflect. Credit is mid 500’s beacon for husband (main income), one active trade with limited history for wife and daughter is riddled with collections and lates.


  • Application has been worked on by brokers since for 2 months almost to the day
  • DLC agent received the application on Oct 23 and referred it to Plan B on Oct 24
  • Plan B was declined by a couple of lenders whom already seen the application
  • Plan B located an approval on Oct 25, approval was immediately presented to client by the DLC agent and all terms accepted and deal signed up
  • Only condition on the approval was recent Appraisal
  • One of the original brokers DID have an approval via private 1st and 2nd, Plan B’s approval was only one mortgage and overall more beneficial to the clients needs.
  • Deal FUNDED on Oct 30.
  • 4 business days from receipt to funded on an application that has been industry worked since August 24, 2012
  • Clients were thrilled to FINALLY have their mortgage and be in there first house. DLC agent came out looking like a star by locating approval where other agents could not.
  • Referring broker received commission of $6,735.00