FAQ

CRS and FATCA both target offshore tax evasion and require financial institutions to identify clients’ tax statuses, monitor clients for Change in Circumstances and report clients’ account details, as applicable. However, FATCA focuses only on tax evasion by US Persons, whilst CRS targets tax evasion from the perspective of the client’s country (or countries) of tax residence.

A broker is an intermediary who facilitates transactions between buyers and sellers, acting as a middleman to connect parties and ensure smooth transactions, often in industries like real estate, finance, or insurance

Pre-qualification is typically based on data you submit and is more of a preliminary estimate of the mortgage size you could qualify for. Pre-approval is usually the more involved step and signals what a lender can offer you, though it isn't an actual guarantee. While both have their purposes, pre-approval tends to be more useful for showing sellers you're ready to buy.
A pre-approval is what I call 'show me.' What I mean by that is let me see the real documents that I—or underwriting—will need for an approval:
pay stubs, W-2s, bank statements, credit report, tax returns, etc.,

Title insurance is a form of insurance that protects against financial loss resulting from problems with a property's title, which is the legal right to own and use the property.

Funds are set aside whenever you make a purchase and will show as “In Process” until the merchant puts through the final charge or releases the funds back to you. Pre-authorized funds can take up to 10 days (90 days for car rentals) to be released back onto your card balance only when the transaction posts for a lesser amount or if it is cancelled.

Mortgage insurance protects lenders against losses if a borrower defaults on a mortgage, particularly when the down payment is less than 20%. It's an additional cost, typically rolled into the monthly mortgage payment, and is not the same as homeowners insurance.

If you do not respond to the Bank’s request for information, the Bank may need to treat your account as a Reportable Account for CRS purposes. This means that the Bank may be obliged to report information regarding Financial Accounts held by you to the designated local tax authority in accordance with local legislation of the Participating Jurisdiction where the Financial Account is maintained. The local tax authority may exchange this information with the tax authority of another country in accordance with relevant laws. In addition, the Bank may, in certain circumstances, decline any requests for new accounts, decline to enter into any further transaction with you, and/or close your existing account(s).