On April 21, we held the MCAN On Point: Precision lending for faster approvals webcast! Here’s a quick guide to everything you need to stay informed and up-to-date, as well as some FAQs that popped up in our Q&A Session. Stay tuned for more on 2026 events coming soon…
Remember, you can always access Broker Resources here.
📺 Webcast Recording
Missed the session, part of it or want to revisit the key points? Access the webcast recording here.
📊Frequently Asked Questions
Q1. With extended ratios up to 65/65, does LTV have to be 65% or below?
No. LTV does not need to be 65% or below.
- MCAN can go up to 80% LTV in major and medium locations, even when using extended ratios up to 65/65.
- The deal is assessed on a spectrum/gradient, considering:
- Location
- Credit (Beacon)
- Ratios
- Overall strength of the deal
Q2. How about self‑employed clients? Do you consider BFS (Bank Statement) income?
Yes. MCAN does consider BFS income for self‑employed clients.
- BFS has been expanded significantly to include many business types.
- Accepted businesses include (not exhaustive):
- Truck drivers
- Licensed trades
- Professionals (doctors, accountants, lawyers, engineers)
- Personal trainers, hairdressers, landscapers, small retail, catering, etc.
- 12 months of business bank statements are required.
- Each business type has an internal profit‑margin formula that determines usable income.
- Cash‑intensive businesses (e.g., convenience stores) are not BFS, but may qualify under T1 General instead.
Q3. If a deal is submitted under one product/bucket and doesn’t fit, will MCAN review another option or simply decline it?
MCAN will review other options and present alternatives.
- The underwriting approach is solution‑based, not auto‑decline.
- Underwriters are trained to:
- Re‑bucket the deal
- Reprice (rate/fee trade‑offs)
- Move between conforming and non‑conforming buckets if needed
- Deals are only declined if they are:
- Outside lending locations, or
- Ratios/LTV are far beyond any allowable range, or
- The property has extreme marketability issues
Q4. For truck drivers or other businesses, when using 12 months bank statements, do you calculate deposits minus expenses = net income?
No. MCAN does not simply take deposits minus expenses.
- MCAN uses an internal percentage formula based on:
- Gross deposits
- Business type (e.g., truck driver vs hairdresser)
- Expenses are reviewed for reasonableness, but income is not calculated as simple net deposits.
- If expenses are excessive or identical to deposits, the formula cannot be used and the deal may not work.
Q5. Owner‑operator example
Gross deposits: $189,000 (2025)
Net deposits: $127,000 (after maintenance & insurance)
Deal went elsewhere — why?
Answer:
From the transcript, this outcome would be consistent if:
- The expenses were high or very obvious (e.g., fuel, truck lease, insurance, maintenance),
- And those expenses materially reduced usable income under MCAN’s profit‑margin formula.
MCAN stated:
- If expenses are excessive, they cannot apply the BFS percentage formula.
- In those cases, MCAN may be unable to proceed under BFS.
Additionally:
- If it wasn’t sent to Deal Run / BDM first, an alternative structure or bucket may not have been explored.
Deal Run Desk
There’s an MCAN deal on your desk — not sure how it fits?
Connect with MCAN’s Deal Run team before submitting your deal to review policy, lending areas, property considerations, and overall deal structure.
By running your deal through Deal Run, you can:
- Confirm eligibility and fit before it reaches underwriting
- Identify the right product or bucket upfront
- Obtain exceptions or higher‑level approvals in advance, where required
- Avoid unnecessary declines or rework
✅ Brokers who use the Deal Run desk see an approval rate of approximately 85%.
When in doubt, start with Deal Run — it sets your deal up for success before submission.
Score Program
Client support for Credit Optimization, Rehabilitation and Education. Program details here.
Note: Conditions apply and are subject to change. Please contact your BDM for details.
