Matt Imhoff - Prepayment Penalty Mentor!

@SimpliiFin I'd like to know why Simplii Financial is not offering an open term at renewal when CIBC does.

@MatthewImhoff1 Simplii Financial and CIBC offer different products and features, which can sometimes mean differences in available options. Please give us a call at 1-888-866-0866 at your earliest convenience so we can review your situation and help address your needs. ^Steven

@cibc @SimpliiFin Now that Simplii is no more, why aren't you offering existing Simplii mortgage holders an open option at renewal?

@SimpliiFin Hi Steven. Why are Simplii mortgage holders being treated like second class citizens and not offered an open term option, like CIBC mortgage holders?

@MatthewImhoff1 We understand that you may need some flexibility as you consider your renewal options. For guidance tailored to your specific situation, please call us at 1-888-866-0866. Our team can review your specific circumstances and walk you through the options available. ^Steven

@SimpliiFin @cibc Hi Steven! What if I want to move lenders but need a bit more time? What are my options? The renewal agreement does not show any open options.

@MatthewImhoff1 @cibc (2/2) If you want to make changes (like adding funds), a new application and credit review will be needed with CIBC’s support. We’ll contact you before your term expires with renewal options. For questions, call us at 1-888-866-0866. ^Steven

@HFTVSports Maybe they pulled their goalie for the extra attacker? Need more evidence.

My question is: would this have been a reviewable in IIHF rules? I’d imagine the Canadian video coach saw it… right?

@TSN_Sports Crazy that there has never been a 9 point game, but there has been a 10 point game.

Darryl Sittler found his late wife Wendy's tickets to his 10-point game. Tonight, under the banner of his retired #27, the Leafs will honour 50 years since his 10 point game. Wendy's tickets? Section: 50 Seats: 13 and 14 (27) Cost: $10 All happening on the Leafs final home game before the Olympic break; January 27th.

@AravindSitham For existing clients or new clients?

Just found out that TD doesn't hold mortgage rates anymore. Real time daily quotes only. Take the rate today or roll the dice tomorrow. This apparently started in August/Summer. 1) Are all the banks/mortgage co's doing this? 2) Did I miss something that triggered this?

@WOWA_Canada @ronmortgageguy It could be that you were looking at Scotia's 5 Year Posted Rate - which has been 6.09% since June 9th 2025.

@MatthewImhoff1 @ronmortgageguy That reflects their average posted rate for November.

If Your Mortgage Is Renewing In The Next Year: READ THIS I post this alot but @WOWA_Canada does deep statistical dives & there is a BIG difference between the "Starting" Rate Offer & what's available if you fight for best rate Start your Renewal Research BEFORE the Bank calls

@WOWA_Canada @ronmortgageguy Their average 3 Year Posted Rate for November was 6.05%. It's been 6.05% since June 9th 2025.

@wealthmoose Why are you using the same balance when they would have paid down over $60k of the balance after 5 years at 1.7% on a 30 Year Amortization? A 4.7% rate is quite high for today.

This isn’t complicated: • 2020 mortgage: $450,000 at 1.7% → ~$1,860/mo • 2026 mortgage: same balance at 4.7% → ~$2,900/mo That’s $1,000/month extra. Most families do not have $1,000 margin. Not in this economy. Not with these taxes. Not with these grocery bills. The numbers don’t lie. A wave of forced sales, bankruptcies, and quiet panic is coming.🙄😟 #cdnecon #RealEstate #Mortgages

🇨🇦 Canada’s about to learn what happens when an entire country takes out a mortgage at 1.5% and then pretends rates will never go up. Renewals are hitting at 4.5%–6%. That’s $10K–$20K in extra payments per year for 1.2M households. People aren’t “stressed.”🙄 They’re one renewal away from becoming economic refugees in their own country. 2026 = the year the “soft landing” lands on Canadians.🇨🇦 @StephenPunwasi @ronmortgageguy @SteveSaretsky @danielfoch @HanifBayat #cdnpoli #HousingCrisis #Bankruptcies #ToRe #VanRe

@cellis921 @17gamepace Same! Plus Adams!

@17gamepace I have 3 of them, what a year 🔥

George Pickens is a top-5 fantasy WR JSN Ja’Marr Chase Amon-Ra Puka Nacua George Pickens

@heathcummingssr Love Ertz! - Makes more sense if you follow Tennis.

This sounds insane, but I have quadruple-checked it: Sunday was Zach Ertz's first game without a catch since November 27, 2014.

@Forrest72358723 @notthatjoe @ShaziGoalie Unpaid Property Taxes are a Super Priority Lien - that get paid back first, even before the Mortgage. This is why lenders either want to collect/pay Property Taxes on your behalf or they will ask for confirmation that you are up to date!

@notthatjoe @ShaziGoalie If house is under water city won’t get any money.

When I found out Brampton property taxes were $150M in arrears... That’s when I started digging into other Ontario cities.

@SteveSaretsky Meanwhile RBC cut their 2 Year and 1 Year Posted Rates by .25% this morning!

RBC says NO rate cut from the BoC next week despite market odds sitting at 80% chance of a 25bps cut. Let's watch.

@GoldAlexander I disagree with blaming the client when the vast majority of professionals (broker or mortgage specialists) have limited understanding and zero training regarding interest rate differentials.

@MatthewImhoff1 Sure Matt

Surprise! That massive mortgage penalty might not be just about Covid or interest rates. Often, the big penalty is 'baked in' from day one. PPM recreated the real scenario, showing a borrower hit with a $40,000+ IRD penalty only six months in!

@GoldAlexander At the eleventh hour. Is it clearly explained on the BMO Mortgage Commitment Letter?

@MatthewImhoff1 I’ve already explained that it’s clearly written in the contract that they sign and would be reviewed with them by both the lender and the notary or lawyer at signing… what’s your point

@GoldAlexander Who's job is it to explain it to the clients? In simple, easy to understand terms.

@MatthewImhoff1 I’d say majority of prospective clients ask about penalties and are aware that the cost will be prohibitive. God forbid a contractual agreement be enforced.

@GoldAlexander That the customer signs without really understanding what they are signing. This lack of understanding makes the lenders a lot more money!

@MatthewImhoff1 They do give them notice, it’s in the contract, that the customer signs…

@GoldAlexander What's stopping lenders from giving their customers advanced warning? Here is an example of the penalty risk of a new @BMO 4% 3 Year Fixed! Simplified! On track for an IRD of about $7557 on or around February 7th 2026. Penalty increases if BMO lowers their 2 Year Posted!

@GoldAlexander You can when it's not clearly explained! There was no reason for her penalty to spike to over $40k after 6 months.