Terms & Conditions

Last Updated: July 9, 2025

This Mortgage Referral Program (the "Program") is offered by Ken Yu, Mortgage Agent Level 1, License #M25001884, an independent mortgage agent licensed in Ontario, acting on behalf of Breezeful FSRA #13470, located at [2 Gladstone Ave, Toronto, ON, M6J 3K6.

By participating in this Program, you agree to be bound by these Terms & Conditions. Please read them carefully.

1. Eligibility

• Referrer Eligibility: The Program is open to individuals who are 18 years of age or older and residents of Ontario, Canada.

  • This Program is not open to licensed mortgage professionals (brokers or agents), or any other individuals or entities who would require a mortgage license to engage in referral activities beyond a "simple referral" as defined by the Financial Services Regulatory Authority of Ontario (FSRA).

  • Employees, agents, or immediate family members of Breezeful or Ken Yu are not eligible to participate.

• Referred Client Eligibility: The referred client must be:

  • A new prospective client to Breezeful and Ken Yu. They must not have been contacted by or actively engaged in a mortgage application process with Ken Yu or Breezeful within the last 12 months.

  • A resident of Ontario seeking a mortgage in Ontario.

  • An individual who provides their full consent for Ken Yu to contact them regarding mortgage services.

2. Qualified Referral Definition

A "Qualified Referral" under this Program means:

• You, the Referrer, provide only the name, telephone number, and/or email address of a prospective client who has expressed genuine interest in obtaining a mortgage.

• The Referrer must not engage in any activity that would require a mortgage license, including but not limited to:

  • Soliciting or attempting to solicit the referred client to borrow money.

  • Providing any advice, information, or discussion about specific mortgage products, rates, terms, or the mortgage application process.

  • Assessing the referred client's financial situation for mortgage purposes.

• The referred client must acknowledge that they were referred by you when contacted by Ken Yu.

3. Qualified Deal Definition

A "Qualified Deal" means the referred client:

• Successfully completes a full mortgage application with Ken Yu through Breezeful.

• Is approved for a mortgage.

• The mortgage is successfully funded and closed (i.e., the funds are disbursed and the transaction is finalized).

• The mortgage must be a new mortgage application, not a simple renewal or transfer of an existing mortgage with the same lender, unless explicitly agreed upon otherwise in writing by Ken Yu.

4. Referral Fee Payment

• Amount: Upon the successful closing and funding of a Qualified Deal resulting from your Qualified Referral, you will receive a one-time payment of One Hundred Canadian Dollars ($100 CAD).

• Payer: The referral fee will be processed and paid directly to you by [Your Brokerage's Full Licensed Name]. As a licensed mortgage agent, [Your Name] cannot directly pay referral fees to unlicensed individuals.

• Payment Timeline: Payments will typically be issued within [e.g., 30-45] business days following the successful funding and closing of the Qualified Deal.

• Method of Payment: Payment will be determined by Breezeful to the contact information provided by you. It is your responsibility to ensure your contact and payment details are accurate and up-to-date.

• Taxes: The Referrer is solely responsible for any and all applicable federal, provincial, and local taxes on the referral fee received. Breezeful will issue a T4A slip if required by Canadian tax laws.

5. FSRA Disclosure & Consent

IMPORTANT FSRA REQUIREMENT: As required by the Financial Services Regulatory Authority of Ontario (FSRA) under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA) and its regulations:

• By providing a referral, you, the Referrer, acknowledge and expressly consent that your identity as the referrer and the payment of this referral fee will be fully disclosed to the referred client at the earliest opportunity by Ken Yu and/or Breezeful during the mortgage application process.

• This disclosure is mandatory and ensures transparency for the referred client regarding the nature of the referral.

• You also consent to Ken Yu and Breezeful contacting the referred individual.

6. Privacy

• Information Collection: We will collect your name and contact information for the purpose of administering this Program and for the payment of the referral fee. We will also collect the name and contact information of the referred client for the purpose of offering them mortgage services.

• Use of Information: Your information will be used solely for the administration of this Program, for compliance with FSRA regulations (including disclosure to the referred client), and for communication related to your referral. The referred client's information will be used to contact them regarding mortgage services and for the mortgage application process.

• Confidentiality: All personal information collected will be handled in accordance with applicable privacy laws and Breezeful's Privacy Policy, which can be found at https://breezeful.com/privacy-policy.

• By participating, you consent to the collection, use, and disclosure of your personal information as described in these Terms & Conditions and Breezeful's Privacy Policy.

7. Program Limitations & Termination

• Ken Yu and Breezeful reserve the right to modify, suspend, or terminate this Program, or any part of it, at any time, for any reason, without prior notice.

• Any Qualified Referrals submitted and Qualified Deals closed before such modification, suspension, or termination will be honored in accordance with the terms in effect at that time.

• This offer has no cash value outside of the specified referral fee.

• Ken Yu and Breezeful reserve the right to disqualify any referrer or referred client from participating in this Program if they violate these Terms & Conditions or engage in any fraudulent or unethical conduct. All decisions regarding eligibility and Qualified Deals are at the sole discretion of Ken Yu and Breezeful.

8. Governing Law

These Terms & Conditions shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.

9. Contact Information

For any questions regarding this Mortgage Referral Program or these Terms & Conditions, please contact:

Ken Yu, Mortgage Agent Level 1

License #M25001884

Breezeful FSRA #13470

647.772.91153

ken.yu@breezeful.com