Dashboard / Leads / D. Chen

David Chen — 12 Cedarview Dr, Markham

New inquiry Underwriting: In review 1st positionRefinance Lead #L-2041 · received Sep 24 via Summit Mortgage Group (A. Lee) · owner Alex Morgan

Open underwriting file

Mockup: see how this lead file changes as it moves along —

The main button follows the lead: Send to underwriting → Generate commitment → Record fee & convert → Open deal funding.

New inquiry

Docs requested

Underwriting & approval

Commitment sent

Fee received → Deal

Lenders allocated

With lawyer

Funded

Next step: collect the 4 outstanding documents. Underwriting (Priya Nair) is reviewing the file meanwhile.

Flow: once documents are in, . The commitment letter unlocks only after the deal is approved in Underwriting & approval. When the commitment fee is received, the deal moves to Deal funding to line up lenders.

Preliminary information

Borrower: David Chen
Email: d.chen@email.com
Mobile: (416) 555-0142
Co-borrowers: Lina Chen (spouse)
Guarantors: None
Broker: Summit Mortgage Group (A. Lee)
Purpose: Refinance
Pay out RBC 1st + consolidate ~$150K of debt
Lawyers: Chen & Associates LLP (borrower)
Whitfield Law PC (lender)

Property: 12 Cedarview Dr, Markham ON L3R 5K2
Type: Detached · owner-occupied
FMV: $765,000 (appraisal booked Sep 30)
Purchase price: $590,000 (2017)
Amount: $520,000 · 1st position
Rate / term: 9.49% · 12 months · interest-only
50 bps below the rate sheet
Property tax: $6,120 / yr · current
Target closing: Oct 10, 2026

Deal calculations

Updates when terms change

LTV

68.0%

Combined LTV (all properties)

58.0%

Monthly interest

$4,112.33

Per diem

$135.20

Gross loan amount	$520,000.00
Lender fee (2%)	−$10,400.00
Broker fee — Summit Mortgage Group	−$5,200.00
Other fees (appraisal, admin)	−$850.00
Pay out RBC 1st mortgage	−$310,000.00
Estimated net to borrower	$193,550.00

Combined LTV = ($520,000 + $295,000 Scotiabank on 88 Harbourview Ln) ÷ ($765,000 + $640,000).

Properties & collateral

Property	Role	FMV	Existing mortgages	Tax / yr	Mortgage stmt
12 Cedarview Dr, Markham	Primary · 1st	$765,000	RBC 1st $310,000 — paid out from our advance	$6,120	Received
88 Harbourview Ln, Pickering	Collateral charge	$640,000	Scotiabank 1st $295,000	$4,980	Missing
2023 Ford F-150	Other asset · info only	$48,000	None	—	n/a

Document checklist

3 of 8 received

Received

Government ID — David Chen

Driver's licence · uploaded Sep 24

Received

Mortgage application

From broker · Sep 24

Received

Mortgage statement — 12 Cedarview Dr (RBC)

Sep 25 · uploaded through the secure upload link

Booked

Appraisal

Appraiser visit Sep 30

Requested

Mortgage statement — 88 Harbourview Ln (Scotiabank)

Requested Sep 25 · reminder every 2 days

Missing

Property tax bills — both properties

2026 final bill

Missing

Property insurance certificate

[Lender Name] must be named as mortgagee / loss payee

Missing

Income documents

2024–2025 NOAs (self-employed)

Later

Signed commitment letter

Generated at the “Commitment sent” stage

Later

Lawyer instructions & distribution calculation

Generated on conversion · funds flow for Whitfield Law PC / Chen & Associates LLP

Conditions

Commitment conditions · set: Residential owner-occupied

Condition	Type	Status	Linked document
Satisfactory appraisal	Standard	Outstanding	Appraisal — booked
Proof of insurance naming lender as loss payee	Standard	Outstanding	Insurance certificate — missing
Mortgage statements on all properties	Standard	Received
Property tax paid to date	Standard	Outstanding	Property tax bills — missing
Solicitor's report on title	Standard	Outstanding	From Whitfield Law PC after closing
PAD agreement signed	Standard	Satisfied
Letter of explanation for 2024 income gap	One-time	Waived	Waived by Alex Morgan — NOAs sufficient

1 of 7 satisfied · 1 waivedOutstanding conditions block funding

Commitment fee

$5,200

Due by Oct 3 · not yet received

When the fee is recorded as received, this lead converts to a deal (next number: #1231). All borrower, property, collateral and document information carries over.

Available after approval

Commitment letter signing is tracked in Documents → E-Sign (send reminder, void envelope, download signed PDF). Sending the letter moves the lead to “Commitment sent” and is logged in Activity below.

Tasks

Request Scotiabank statement for Pickering property

Today · Alex Morgan

Follow up with broker on appraisal

Oct 1 · Alex Morgan

Review NOAs once received

Oct 2 · Priya Nair

First call with borrower

Done Sep 24

Notes

Borrower wants to consolidate ~$150K of credit card / LOC debt. Seems motivated; wants to close before end of October.

Alex Morgan · Sep 24, 2:10 PM · Phone call

Broker confirmed appraisal booked Sep 30 with an AACI appraiser.

Alex Morgan · Sep 25, 11:02 AM

Activity

Sent to underwriting — Priya Nair (rate exception: 50 bps)

Sep 26, 9:40 AM · Alex Morgan

Mortgage statement (RBC) uploaded through the secure link

Sep 25 · by broker

Document request emailed and texted (4 items) — stage moved to “Docs requested”

Sep 25 · Alex Morgan

Confirmation emailed to Summit Mortgage Group

Sep 24 · automatic

Lead created

Sep 24 · Alex Morgan

Condition setSuggested because: owner-occupied detached · individual borrower. Sets are managed in Settings → Statuses & stages.

Condition	Category	Status
Satisfactory appraisal	Property	Already on lead
Proof of insurance naming lender as loss payee	Insurance	Already on lead
Mortgage statements on all properties	Prior to funding	Already on lead
Property tax paid to date	Property	Already on lead
Proof of occupancy (utility bill)	Prior to funding	Will add
Independent legal advice for all borrowers	Legal	Will add
Void cheque for PAD	Post-funding	Not selected

Funding date

First regular payment

Interest adjustment

Holdback

Funds flow — D. Chen · 12 Cedarview Dr, Markham	Amount
Gross advance ($520,000 at 9.49%)	$520,000.00
Lender fee 2% ($10,400) less commitment fee already paid ($5,200)	−$5,200.00
Broker fee — Summit Mortgage Group	−$5,200.00
Other lending fees (appraisal, admin)	−$850.00
Interest adjustment Oct 10 → Oct 15 (5 days × $135.20)	−$676.00
Prepaid interest	$0.00
Holdback	$0.00
Net advance to lawyer in trust	$508,074.00

Distribution

[Lender Name]: $5,200.00 fee balance + $676.00 interest adjustment
Summit Mortgage: $5,200.00 broker fee
Appraisal / admin: $850.00
Lawyer in trust: $508,074.00

From trust, the lawyer pays out the RBC 1st mortgage (~$310,000) and registers our 1st charge on 12 Cedarview Dr and the collateral charge on 88 Harbourview Ln.

Require insurance binder in the lawyer package Attach commitment letter & conditions list

Security	1st charge on 12 Cedarview Dr, Markham ON; collateral charge on 88 Harbourview Ln, Pickering ON
Principal	$520,000.00
Interest rate	9.49% per annum, calculated monthly, not in advance
Term	12 months, interest-only
Monthly payment	$4,112.33 by pre-authorized debit
Lender fee	$10,400.00, deducted from advance
Broker fee	$5,200.00
Commitment fee	$5,200.00, payable on acceptance and credited toward the lender fee
Prepayment	3 months' interest penalty
NSF / discharge fees	$250.00 per returned payment / $350.00 discharge fee