Standard Charge Mortgage Terms
The Standard Charge Mortgage Terms (SCMT) is a legal document that outlines the terms and conditions when borrowing and repaying money when real property is used as collateral. It defines what a member agrees to when they obtain mortgage financing at CCCU.
The SCMT is a legal document and must be provided to all CCCU members when borrowing money using real property as collateral. If the financing is completed with a lawyer, the lawyer must provide a copy of the SCMT. If the financing is done in branch as a refinance of an existing mortgage, CCCU will provide a copy or direct members to the document which is posted on our website.