Deposit your investment directly to Richardson Law's Trust Account and provide Hosper with proof of funding.
Watch: How do I fund my Direct Mortgage Investment?
4 methods are commonly used to fund Direct Mortgage Investments.
Option 1: Deposit a Bank Draft
Obtain a Bank Draft from your bank payable to "Richardson Law Professional Corporation", and deposit this draft directly to This Trust Account at any TD Bank branch. Please send us copies of the TD deposit receipt and Bank Draft receipt (click here for example).
Option 2: Deliver a Bank Draft
Obtain a Bank Draft from your bank payable to "Richardson Law Professional Corporation” and deliver this draft to the law office located at 21 St. Clair Ave E, 2nd Floor, Toronto, ON, M4T 1L9.. A lawyer will receive your funds and provide you with a receipt (Hosper’s head office is located in the same building).
Option 3: Transfer Funds Directly (TD Only)
If you also bank with TD, you can avoid the bank draft process by requesting the teller to transfer funds directly from your TD account to This Trust Account at TD, Please send us a copy of the TD receipt provided (click here for example).
Option 4: Wire Transfer
Request a wire payment at your bank and provide them with these details.
2 important things to remember when funding your investment.
- Please note a Bank Draft or a Certified Cheque is required, as a regular cheque will incur a 5-day hold and physical cash is not accepted.
- We require a copy (scan or photo) of the Bank Draft and the TD deposit receipt (or wire confirmation page) to confirm funding of your investment. We recommend indicating your name and the borrower's name on the receipt as outlined in the examples above.
A trip to the bank is the most effort we will ask of you on each investment -- the Hosper team will look after the rest!