Everything the app does, in detail.

The portfolio

One screen for the whole book: what’s outstanding, what’s expected each month, renewal fees owed until payout, and a list of what needs you today, most urgent first.

• Needs attention: rate checks, defaults, mortgages past maturity, renewal decisions and letters that are due.
• Hold through several corporations, or personally as well, and filter the portfolio by mortgagee.
• Open commitments are listed separately and don’t count toward your plan.
• Search every mortgage by property, borrower or mortgagee.

Commitments

Start a new loan as a commitment. Set the terms and conditions, prepare the commitment letter, file the signed copy, and activate the mortgage when it funds.

• Prepayment terms: closed, open, open with three months’ interest, or closed for a set period and then open.
• 6 standard conditions to start from, such as clear title, insurance naming you as mortgagee, and independent legal advice.
• The letter states the estimated annual percentage rate.
• Track it through accepted, declined, withdrawn or expired.

Payments and the installment ledger

Record each payment as it arrives. The app builds the installment schedule from the loan terms and applies cleared payments to the oldest unpaid installment, so you can see what’s paid, what’s late and what’s missing.

• Methods: e-Transfer, Pre-authorized debit, Cheque, Wire, Cash.
• Mark a payment returned (NSF) and add the NSF fee.
• A warning before you record the same payment twice.
• Charges owing, and renewal fees owed until payout, with paid and unpaid status.
• Interest-only payments, or blended payments with interest calculated half-yearly, not in advance. Monthly schedules.
• Add a mortgage you already hold, with a paid-through date so earlier installments count as paid.

Missed payments and letters

A mortgage is in default as soon as an installment due on or before today is unpaid. Once its notice delay has passed (five days unless you change it), the missed payment notice is drafted, stating everything owing, for you to review.

• Letter templates: commitment letter, renewal letter, non-renewal notice, demand letter, missed payment notice, payment reminder.
• Edit any draft, preview it as a PDF, then print or download it.
• Send it yourself, then mark it sent with the date. Or skip a notice.
• A letter log for each mortgage, and each sent letter filed under its documents.

Renewals

Ahead of each maturity, the term’s payment record is screened against your renewal rules. You get a recommendation with its reasons, and you make the decision.

• Late means more than 5 days after the due date. More than 1 late payment, or any returned payment, means review; more than 3 late or 1 returned means don’t renew. Change any of these in Settings.
• Any money owing at screening means don’t renew.
• Notice periods: 60 days by default for each mortgage, and 90 days when the record needs review or says don’t renew.
• Preview the new term: maturity, balance, payment and estimated APR against the limit.
• A reminder about the 10-day notice for a changed pre-authorized debit amount.
• Draft the renewal letter or the non-renewal notice (with a payout estimate), record the renewal, or undo the latest one.
• A renewal fee can be paid on renewal, added to the mortgage, or owed until payout, with or without interest.

Rate check

Every mortgage and every proposed renewal gets an estimated annual percentage rate that counts its fees, compared with the criminal interest rate limit that applies.

• 35% APR in general.
• 48% for a business-purpose loan to a corporation over $10,000 and up to $500,000; no limit above that.
• Flagged on the portfolio when it’s over the limit, or within 3 points of it.
• An estimate to check, not legal advice.

Ontario enforcement

When a mortgage is in default, each Ontario enforcement step is listed in order. The default date comes from the payment record; you enter each later date as it happens, and the app works out the earliest date for the next step and when each waiting period ends.

1. 01Default
2. 02Reminder email sent
3. 03Demand letter and Notice of Intention to Enforce Security sent
4. 04Notice of Sale served
5. 05Statement of Claim issued (payment and possession)
6. 06Statement of Claim served
7. 07Default Judgment obtained
8. 08Writ of Possession issued
9. 09Final Notice sent
10. 10Possession taken
11. 11Property sold

• Notice of Sale from 15 days after default, with a 37-day sale period.
• A 10-day response period after the demand letter, which can include the Notice of Intention to Enforce Security under s.244 of the Bankruptcy and Insolvency Act.
• A 20-day defence period after the Statement of Claim is served, and a 10-day Final Notice period.
• Draft the payment reminder and the demand letter from this screen. Get legal advice before each formal step.

Payout statements

Choose a payout date and get a statement for the lawyer, with interest counted to the day. If a renewal changed the rate in the period, each stretch is charged at its own rate and both are shown.

• Principal, interest, fees and charges owing, renewal fees owed, and the discharge fee.
• Add an “other fees” line with your own description.
• A per diem for each day after the payout date.
• Download it as a PDF.

Documents

Keep each mortgage’s paperwork with it: PDFs and images up to 20 MB, each with a category, a date and a note. View them in the app or download them.

• Categories: commitment, charge / mortgage, title and searches, insurance, appraisal, identification, pad authorization, lawyer reporting, letters and notices, enforcement, other.
• A checklist of the key documents each file should have.

Your account

Settings holds the things that apply across every mortgage.

• Mortgagees: each of your corporations, or you personally, with the address and phone number that go on the letterhead.
• Your renewal rules, with a button to restore the defaults.
• Download a backup of all your records at any time, and restore from one.
• Add three example mortgages to try things on. They don’t count toward your plan.
• Two-step verification with an authenticator app on every account.
• Light and dark themes, and installable as an app from Chrome or Edge.

What it doesn’t do

Some things are left to you on purpose, and some aren’t covered.

• It doesn’t receive, hold or move money.
• It doesn’t contact borrowers. You send every letter yourself.
• It doesn’t import payments from your bank. You record each one.
• It doesn’t give legal, tax or financial advice.
• It covers Ontario only.
• It handles monthly payment schedules only.