COVID-19 Alternative Closing Service for Refinances

Dear clients looking to refinance,

Please see below for a summary of FCT’s update on their closing service arrangements amidst the COVID19 Pandemic. They have arranged for alternatives to signing in person to support self isolation during this period. This service only applies to clients looking to refinance using FCT as their closing service. Please contact us for more details.

COVID-19: Update: FCT’s Remote Signing Network

FCT remains committed to providing a consistent level of service and supporting the health and safety of our customers, partners and employees.As a result of the ever-changing status of the COVID-19 pandemic, and in the best interest of our employees and customers, FCT has made the decision to cease our in-person remote signing services through our Platinum Programs.As such, leveraging our existing national network of remote signers, lawyers, notaries and commissioners, we have developed an alternative solution that seamlessly facilitates these signings virtually, without the need for in-person interaction.

To that end, we have made the following changes with regard to Platinum refinance, transfer and collateral transfer deals, effective April 1, 2020:

1. All Platinum refinance and collateral transfer deals in Ontario, British Columbia,    Alberta, Saskatchewan and Manitoba will now fall under the virtual process, with a national roll out to follow.
2. All Platinum transfer deals nationally will now fall under the virtual process.

What does this mean to you?

FCT will contact you to arrange for the scheduling of a virtual witnessing appointment. You will be in receipt of the mortgage document package in advance of the signing appointment. As we do today, FCT will provide instructions on what to expect before, during and after the signing appointment, following which, funding can take place.

Take care! and Stay Safe!

The Mortgage Winners Team

Bank of Canada holds interest rate at 5%