Enervate

Within the context of mortgage subrogation, the term enervate refers to the process through which the bank manifests its intention to match or improve the mortgage loan offer made by a different banking institution to one of its customers.

When switching mortgage lenders, the current bank has 15 calendar days to state its intention, in the presence of a notary public, to formalize a modification to the mortgage loan conditions that match or improve the new offer presented by the other institution.