Mortgage Investment Corporation
If you are a broker purchasing shares on behalf of clients, Crossroads-DMD Mortgage Investment Corp. offers an efficient, straight-forward process to ensure a timely, accurate transaction for all parties involved.
For brokers currently dealing with Crossroads-DMD MIC, the procedure for processing share purchase information and order transactions is as follows:
The broker submits the Share Subscription Agreement and the Crossroads-DMD MIC application form – both must be fully completed with correct name of subscriber – to Crossroads-DMD MIC. Payment for share purchase is also submitted.
Non RRSP Share Purchase
If the shares are not intended for an RRSP, attach a cheque.
RRSP Share Purchase
If the shares are for an RRSP purchase, the broker must provide information on the investor’s Trustee (Name, Address and phone numbers and contact person if available).
If shares are to be purchased with funds within the trustee’s account, to complete the purchase, the broker is to provide a Letter of Direction/Indemnity from the trustee. The Letter is to be completed by the client, instructing the trustee to complete the purchase (original will be required to send with the share certificate)
If this is a new account with the trustee, the Trustee’s Application form must be fully completed and a Letter of Direction/Indemnity from the Trustee must be completed by client instructing them to complete the purchase (original will be required to send with the share certificate).
Transferring Funds Between Trustees
In some instances, funds are required to be transferred from another trustee’s account. If this is the case, a T2033 form - fully completed by the client with original trustee name, address and account number to accompany the new application form with new trustee – is required.
Completing the Share Purchase
Once all required information is received by Crossroads-DMD MIC, the share purchase is completed. Processing includes: preparation of the share resolution and share certificate; depositing of funds if non-registered; forwarding of shares and Letter of Direction to trustee for payment of the share certificate; receipt of funds to complete purchase; confirmation to investor of the purchase, including a receipt for amount of investment, ledger of investment total and a copy of share certificate.
Crossroads-DMD MIC works hard to ensure brokers purchasing shares on behalf of clients are dealt with in the most professional and efficient manner possible.
Through market expertise and exacting standards, Crossroads-DMD MIC assists brokers, trustees and their clients. If you are broker looking to purchase shares on behalf of clients, contact Crossroads-DMD MIC.
