Residential Brokers

How can I activate a broker portal account?

1. How can I activate a broker portal account?
2. Please reach out to your Magenta representative who will activate your broker portal account.
3. Once activated you will receive a one-time “Broker Portal Setup Account Activation” email with a temporary password. Please ensure that it is not in your junk folder.
4. Use the temporary password to set up your account.
5. Log in any time on our website at magentacapital.ca, or through the link in the underwriting communication emails.

For more information on the Broker Portal, please refer to our Broker Portal User Guide, or reach out to your Magenta representative.

How can I check the condition status of my file and see which documents have been reviewed, accepted, or require updates?

1. Log in to your broker portal account (or reach out to your representative to activate an account)
2. Click on the “File Name” on the “My Loans Page” to view detailed information about the file.
3. Once your documents are uploaded, the following status updates will populate in the “Outstanding Conditions and Documents field”.
– Waiting for review: Appears when a document is successfully uploaded
– Reviewing: Appears when documents are under review
– Changes Needed: Appears if updates are required to the documentation. Notes will be provided on required updates.
– Approved: Appears when document is accepted.
– Rejected: Appears if a document is not accepted. Notes will be provided to advise why the file was rejected and what document(s) are required.

For more information on the Broker Portal, please refer to our Broker Portal User Guide, or reach out to your Magenta representative.

Where do I upload supporting documentation for a submitted file?

1. Log in to your broker portal account (or reach out to your representative to activate an account)
2. Click on the “File Name” on the “My Loans Page” to view detailed information about the file.
3. Scroll down to the “Outstanding Conditions and Documents” section
4. After approval, all required document fields will populate with an “upload files” button
5. Upload supporting documentation in the relevant fields.

For more information on the Broker Portal, please refer to our Broker Portal User Guide, or reach out to your Magenta representative.

How can I view the application status of my file once it has been submitted?

1. Submit your file through the Submission Platform of your choice.

2. Once received by Magenta Capital Corporation, you will receive a “Confirmation of Application Received and Underwriter Assigned” email with the next steps and a link to the broker portal.

3. If you don’t have a portal account, you will receive a separate one-time account activation email. Please ensure that it is not in your junk folder.

4. Log in to your broker portal account.

5. View the application status of your file on the “My Loans” page. Loans in progress will appear in the “in progress” tab.

For more information on the Broker Portal, please refer to our Broker Portal User Guide, or reach out to your Magenta representative.

What rural centres does Magenta Capital Corporation lend in?

Please contact our business development manager to learn more.

Does your “No Doc” product require a notice of assessment?

No. We don’t require any income verification. We are a property-first lender. Is the property typical for the neighbourhood and in a marketable area? If the answer is yes, then our No Doc product is a great solution!