Helping you do your job more easily and effectively is important to us at CMI. So is creating an environment where you are able to meet the needs and expectations of your customers.

That’s why we developed this page of Frequently Asked Questions (FAQs). We want to provide you with the answers you’ll need for many of the important questions surrounding our products and services.

We will continue to update this page as new issues arise. We plan on maintaining this page as an up-to-date resource for the important topics and issues that are impacting you and your clients when dealing with us.


  • Q: Do you charge an Admin Fee?
    A: No, we don’t charge an Admin Fee. We do charge a Lender Fee, which is deducted from the advance.
  • Q: What are your Renewal Fees?
    A: Our typical Renewal Fee is 1 - 1.5% of the outstanding balance (subject to repayment history and review).
  • Q: What is your Penalty Fee?
    A: We charge interest to maturity to a maximum of 3 months typically (i.e. if a mortgage is being paid out in the 11th month of a 1-year term, we will only charge interest for the remaining 1 month of the term).

Mortgage Terms and Amortization

  • Q: Do you offer open terms?
    A: Yes, we do offer open term mortgages. We can also offer a variation of a closed mortgage. For example, we can structure the deal with a 12-month term that’s open after 6 months.
  • Q: Can your mortgages be prepaid?
    A: Yes, we can set up the mortgage to be prepaid for the entire term or for a portion of the term depending on your client's needs.
  • Q: Do you offer short-term mortgages?
    A: Yes, we offer shorter term mortgages, from 5-days to 6-months. We can also customize the term to coincide with the maturity date of an existing first mortgage if required.
  • Q: Do you amortize your mortgages?
    A: Yes, we can amortize our mortgages up to 40 years on a case by case basis. Our typical mortgage is interest-only, thus minimizing your borrower’s monthly payments.
  • Q: What is your renewal process?
    A: Our Broker Partners are always reminded of upcoming mortgage maturity dates. We will send you a renewal reminder 90 days prior to the renewal date, additional reminders are sent thereafter. You can then reach out to your client to discuss their financing options. If the client contacts us directly regarding a renewal, we will always refer them back to you.