MCAP and RMG update on Mortgage Refinances
We have received notice of an email update to the policy of MCAP that they are again allowing mortgage refinances to be closed through individual solicitors. We are hearing that RMG Mortgages, a division of MCAP Financial Group, has issued the same update via email.
We are pleased to announce that effective immediately, MCAP Refinances may be closed through FCT, FNF or individual solicitors.
Business process restrictions stemming from COVID-19 social distancing measures had temporarily required that all MCAP Refinances be closed through FNF or FCT. As a result of measures taken by most provincial law societies and/or regulators, virtual closings are now an option. This allows us to revert to normal business practices, and all brokers to select a closing centre (FCT/FNF) or an individual solicitor for MCAP Refinances.
This is great news for brokers and MCAP as we continue to adapt and revert to the business practices that offer choice and options to our clients.
Should you have any questions, please contact your BDM.