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Private Mortgage Lender

Nojumi’s Private Mortgage Lender assists Ontario real estate lawyers by providing automated solutions for their private mortgage matters. Private Mortgage Lender is meant to be a one-stop shop for all of the needs of a solicitor acting for a private lender for the entirety of a mortgage’s life cycle, from commitment letter to closing to renewals and amendments, payouts and discharges and also enforcement.

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Features and Functionalities

1

Private Mortgage Closings

Complete private mortgage closings acting for a lender with ease. From generating the security documents to managing your communications with the borrower’s solicitor and the transaction documents, we automate it all.
2

Co-Lending

Manage multiple lenders in a single transaction. Enter the information of the lenders and Nojumi will prepare a custom inter-creditor (co-lending) agreement.
3

Construction Draws

Nojumi can help you manage your construction draws in construction financing transactions. In addition to preparing the statutory declaration of the borrower and a receipt for each draw, Nojumi also prepares a draw summary chart.
4

Renewals and Amendments

Nojumi can manage all of your renewals and amendments. It will prepare a mortgage amending agreement setting out the terms of the amendment including whether the balance due date or any of the essential terms of the mortgage are being amended.
5

Payouts & Discharges

Nojumi can prepare Payout and Discharge Statements for you in minutes. In addition to calculating the interest adjustment as at the day of the payout, it will also take into account any amendments that have been made to the terms of the mortgage.
6

Enforcement

Complete mortgage enforcement with Nojumi in minimal time. We provide you with a platform to record defaults as they occur. You will be able to generate demand letters, statements of claim, notices of sale, and notices of intention to enforce security.

Closing

As part of our Closing package, our software will automatically produce 36 closing documents and 7 correspondences for you.

$100 per matter

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Renewals & Amendments

Renewals and amendments are a common part of a private mortgage solicitor’s practice but they are seldom properly documented

$50 per renewal/amendment

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Payouts & Discharges

Payout calculations are typically the most challenging part of the process for private lender’s solicitor.

$50 per payout/discharge

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Co-Lending

In many situations private mortgage transactions involve more than one lender. In these circumstances preparation of an Intercreditor Agreement is essential

$50 per matter

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Enforcement

While most solicitors stay away from litigation, from time to time, you may wish to be able to quickly send a demand letter to or to even issue and serve a statement of claim when you anticipate that the borrower will likely not defend.

$250 per matter

More info

Let's get started

If you regularly act for Private Mortgage lenders and wish to automate your practice, get yourself a Nojumi account and benefit from the many automated solutions it offers. As part of our onboarding program, in addition to setting up your account, we will walk you through your first closing to make sure you learn to fully utilize the program’s features.

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Contact Us

Address:

255 Duncan Mill Rd, Suite 710
Toronto, Ontario M3B 3H9

Email:

sales@nojumi.com
support@nojumi.com

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