Certifications and Declarations

The disclosure highlights (available for download below) outline that Principal Brokers and selling agents provided each lender/investor with a detailed explanation of the relationship between the Borrowers Broker, the Selling Broker and the Borrower/Developer.  They also signed Declarations and Certifications at the beginning and ending of each of the “Investor/Lender Disclosure” FSCO packages confirming they had completed their responsibilities. Additionally, there was a “Memorandum of Understanding” given to each lender/investor by the selling broker/agent that specifically outlines the selling broker/agent responsibilities which included, however were not limited to: vetting for suitability, completing know your client requirements, document completion, merits of each project, risk disclosure, potential conflicts and the role of various parties.  Each Lender/Investor, Broker/Agent executed this “Memorandum of Understanding” and filed a copy with the Borrowers Brokerage.