Ontario Mortgage Agent Practice Exam

Providing disclosure to a borrower is an important part of the lending process. It ensures that borrowers are fully informed about the terms and conditions of their loan agreement and helps them make well-informed decisions. Option B is incorrect because the timing requirement is not tied to when the borrower is required to make a payment or enter into the mortgage agreement. Option C is incorrect because it refers to the disclosure of the brokerage's role, which is a different requirement from disclosing the loan terms to the borrower. Option D is incorrect because it does not pertain to the topic of providing disclosure to a borrower. The correct answer is A because it states that the disclosure must be written in clear and plain language and the borrower must give their written consent. This ensures that the borrower fully understands the loan terms and has given their permission to proceed.