Prudent Launches Mortgage Broker Services Division
02/05/2020

Prudent Financial is pleased to announce a division created exclusively to serve mortgage agents and brokers.

Online PR News – 05-February-2020 – Toronto – Prudent Financial is pleased to announce a division created exclusively to serve mortgage agents and brokers.

Prudent is a sub-prime equity lender that has offered subprime loans and mortgages to the consumer public since 1983. Prudent’s new division, Prudent Mortgage Broker Services, was created to facilitate its financial products through broker channels.

Beginning in February 2020, Prudent will begin accepting brokered mortgage applications from mortgage agents and brokers in Ontario.

“We are excited about this new division because it provides new tools to the broker community,” said Jonah Stern, Managing Director at Prudent Financial Services, Mortgage Broker Services Division.

“Unlike many traditional private lenders, Prudent is different. Our customers can access a full service loan center that is open six days per week. Our loans report to the Canadian credit bureaus. And because our brokers have direct access to a dedicated underwriter and decision-makers, deals close much faster than what we see with the competition.”

Prudent offers 1st, 2nd, 3rd and 4th mortgages up to 75% LTV for people who have traditionally had a hard time accessing financing: bankruptcy (even undischarged), consumer proposal (complete or not), bad credit (even unresolved), can’t prove income (self-employed, contractor, pensioner, etc.) and so on.

Prudent’s approval process is not credit score driven; rather deals are approved based on the property and equity position.

“We have a lot of flexibility when it comes to making loan decisions,” Stern said.

“For example, if an applicant has more than 50% equity, we may not require a spouse to sign. And depending on the property, we may not require an appraisal. We also offer same-day commitments. These examples greatly expedite the time it takes agents and brokers to get their deals closed.”

For more information about the new Prudent Mortgage Broker Services division, or to submit an application please contact Jonah Stern at jonah@prudentmortgage.ca, Office: 416-223-9300 Ext 260, Cell: 647-262-3911.