Underwriting Process

Service Options

Sagen offers two types of service for which all products are eligible:

Full Service are applications for which Sagen will complete the collateral adjudication. Such applications will be eligible for auto decision, however in some cases may be referred to a Sagen underwriter for additional review.

If it is necessary to obtain an appraisal, Sagen will manage ordering and administering the report including all costs associated with the evaluation. The report will be evaluated and retained as part of Sagen’s internal underwriting process.

Standard Service are applications for which the Lender has completed an appraisal report. The application will be referred to a Sagen underwriter for review and the Lender can e-mail the appraisal report to:

National Underwriting Centre: https://www.sagen.ca/tools-and-resources/

The following conditions must be met for Standard Service transactional mortgage insurance applications:

  • The appraisal must be ordered by, and prepared for, the Lender. Appraisals made out to a borrower will not be accepted.
  • The report must have been completed within the last 90 days and be legible.
  • The appraisal report must be e-mailed to Sagen in PDF format. If a PDF document cannot be submitted a faxed copy may be acceptable. Appraisals can be faxed to:
    • All provinces (excluding Quebec):  1 (800) 927 6323
    • For Quebec 1 (877) 471 4144
  • The appraiser must have at least one of the following designations: Canadian Residential Appraiser (“CRA”), Accredited Appraiser Canadian Institute (“AACI”), Designated Appraiser Residential (“DAR”), or Designated Appraiser Commercial (“DAC”). A Chartered Appraiser (“EA”) designation is also acceptable but only in the province of Quebec.