Latest Updates, COVID-19 and General Information. Learn More

CMLS Financial is pleased to introduce our new Customer Loyalty Program, which was designed by combining our vision of customer forward thinking with our commitment to continual innovation.

The CMLS Financial Customer Loyalty Program assists CMLS customers access their equity and/or potentially lower their current interest rates, while reducing, and in some cases completely eliminating, their payout penalty.


Three options exist under this program:

  • Refinance Transactions.
  • Early Renewal Transactions.
  • Adjustable Rate Mortgage (ARM) Conversions.

Customer Loyalty Program – Early Renewal

Early renewal transactions are also eligible under the CMLS Financial Customer Loyalty Program. This feature allows current CMLS Financial mortgagors to take advantage of low interest rate environments. Eligible prime mortgages can early renew without the financial impact of a payout penalty. This is accomplished by blending the penalty into a new 5 year term mortgage. The client may elect to pay a portion of the quoted penalty should they wish to further reduce their rate. Finder’s fees are payable based on extension of the term. Brokers who have selected renewal compensation at time of submission are automatically compensated on these transactions.

Product features include:

  • Fixed term mortgages only.
  • Broker compensation on new funds only.
  • No new money.
  • No legal fees.
  • No requalification (client needs to be repaid as agreed).
  • Broker compensation on extension of term only.
  • Excludes rate advantage mortgages.

Customer Loyalty Program – Adjustable Rate Mortgage (ARM) Conversions

Adjustable rate mortgage conversions are also eligible under the CMLS Financial Customer Loyalty Program. This feature allows current CMLS Financial ARM mortgagors to take advantage of their ARM lock in privileges without penalty. If the broker assists in the conversion a finder’s fee is available based on extension of the term. Brokers who have selected renewal compensation at time of submission are automatically compensated on these transactions.

Product features include:

  • Adjustable rate mortgages only.
  • No new money.
  • No legal fees.
  • No requalification (client needs to be repaid as agreed).
  • Broker compensation on extension of term only.
  • Includes rate advantage adjustable rate mortgages.

Customer Loyalty Program – Compensation

Customer loyalty refinance transactions are compensated on the new funds only. Customer loyalty early renewal transactions and adjustable rate mortgage conversions are compensated as per the below;

Term Extension Finder’s Fee
1 Year 15 basis points
2 Year 30 basis points
3 Year 45 basis points
4 Year 45 basis points
5 Year 50 basis points

For full product details and to discuss specific file scenarios, please reach out to your regional manager.

Please note, a signed client consent form is required to discuss file particulars.

Subscribe.

Subscribe now to automatically receive both our Commercial Mortgage Commentary and Looking Forward Newsletter.

Select and submit below to automatically receive our Looking Forward Newsletter.

Select and submit below to automatically receive our Commercial Mortgage Commentary.


Thank you for your interest. We look forward to getting in touch.