“We act for lenders in preparing and processing mortgage documentation. Our service goal is to ensure that the mortgage process is completed as quickly as possible, consistent with our clients’ commercial and legal interests, and the interests of the borrower.”

 

The Mortgage Team provides a level of service, timeliness and attention to detail that adds significant value to our clients’ businesses.

The team at Watkins Tapsell is headed by Matthew Coates, who has a broad expertise in mortgage documentation and mortgage recovery.

The team have acted on a number of complex recovery matters where mortgagors have unsuccessfully opposed the mortgagee’s recovery action in the Supreme Court and the security properties have been sold by auction at the end of the proceedings with our clients recovering all their debt and expenses.

We pride ourselves on always obtaining excellent results for our clients.

 Mortgage Advances

We act for lenders in preparing and processing mortgage documentation. Our service goal is to ensure that the mortgage process is completed as quickly as possible, consistent with our clients’ commercial and legal interests, and the interests of the borrower. We have developed a very efficient and effective system, based on our technology platform, which enables us to document and settle mortgage advances more quickly than our competitors, and at the same time guarantee our clients’ security position. There have been many instances where we have been able to settle significant advances within 7 days of receiving a request for funds, because of the efficiency of our people and system.

The types of advances from our clients range from small loans of $100,000 to purchase property, to large advances in excess of $2,000,000 for commercial acquisitions. We have developed relationships with a range of mortgage brokers based on our reputation as a skilled and efficient mortgage processor.

Mortgage Recovery

As an adjunct to our mortgage processing system, we have developed a mortgage recovery specialty. Again, this mortgage recovery system is built around a comprehensive technology platform that manages the recovery process to strict time limits. This ensures that recovering the funds due to our clients is achieved in the shortest possible time following a default by a borrower.

Our skills and experience enable us to handle all the “tricks” used by defaulting mortgagors to delay recovery action. Those tricks include avoiding or denying receipt of documents, disputing the amount of arrears, claiming defects in formal documents served by the mortgagee, and alleging that there was an inadequate marketing program for the sale of the security property. We have extensive experience defeating these claims by mortgagors by negotiation and by litigation, and our client’s penalty interest entitlements and legal costs are recovered from the proceeds of sale of the security property. The key to effective negotiation with mortgagors desirous of delaying the recovery process, is to ensure that there is open communication for negotiation purposes, while simultaneous recovery action in the Supreme Court continues unabated.

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