Annual Statements FAQs

Real estate mortgage & home-buying tips

It’s that time of year again! With annual statements coming out shortly, you likely have a few questions. We thought we’d make things a little easier by compiling our most frequently asked questions below.

Remember, you can find a lot of information on our Customer Portal . Be sure to check it out and register - if you have not already. If you have a question that is not covered below or cannot be found on the Customer Portal, please contact one of our Call Centre Specialists at 1.888.995.2657.

When will I receive my annual statement?
Annual Statements are mailed out by Mid-February. If you have changed your mailing address and have not notified CMLS, please note that you may not receive the statement by mail.

When will the annual statement be available on the Customer Portal?
Annual statements will be available on the Customer Portal by the end of February.

Am I able to print my statement directly from the portal?
Yes.  You must be a registered member.  Signing up is easy! Simply log on to cmls.ca and you will see the customer portal icon on the right‐hand side. Click “register” if you are new to the portal (remember to have your account information handy) or “login” if you are a returning user. Once you have logged on, you can view and print your annual statement.

Can you email me a copy of my statement in pdf format?
Yes, we can for a fee of $25. Or, you can simply print your own through our secure Customer Portal.

Why does my statement show that I have a surplus in my tax account?
Since tax billing does not run January to December, there may be funds in your tax account for the next billing cycle. It is important for CMLS to ensure there is enough money in your tax account to pay your next bill so that you do not go into arrears with your municipality or incur any additional fees.

Can you please explain the tax portion on my annual statement?
Yes, here is a breakdown of the tax columns that appear on your statement:
Opening tax balance: This represents the amount of funds we were holding on your behalf as of January 1 of the Annual Statement year.
Tax payments received: This represents the amount of taxes collected through your scheduled payments throughout the Annual Statement year.
Interest paid on tax account shortfall: If your account was in a shortfall at any time during the course of Annual Statement year, there is interest charged against the shortfall balance. Interest is charged at the same rate as your mortgage rate.
Taxes paid on your behalf: This is the amount that we, CMLS, paid on your behalf for your final tax bill.
Closing tax account balance: This represents the amount we are currently holding in your tax account (if amount is shown in brackets, this is a surplus in your account).

I lost/did not receive my annual statement. Can you send me another copy?
Yes, we can send you another copy for a fee of $25. Or, you can simply pull your own annual statement via the Customer Portal for free. 

Is the home you have mortgaged with us a rental or a second home? If so, we may be sending documentation to that property address. If this is the case, please contact our Customer Service department at 1.888.995.2657 to update your mailing address.

I noticed a balance in my Tax Account, may I access these funds?
Unfortunately, no. The tax account does not work like a bank account, and it must be used specifically for tax payment purposes. The amount we collect with your mortgage payment is to be used to pay for your next tax bill.