RMA's MIC-first mandate, and what to tell a client whose deal got declined this week
Early-2026 head-office directive: route through a MIC before considering privates. Non-MIC-first private deals are getting head-office declines, fast.
RMA head-office mandate, in effect early 2026: brokers must route through a MIC before considering privates. Head-office declines non-MIC-first private deals, even when the MIC math is clearly worse for the borrower. This is structural, not discretionary.
What this means for the client conversation: if you quoted "private" three months ago and the deal sat, the answer changed. You can still get them there, but the path is two-step. MIC first, decline letter from MIC, then private. The total close time roughly doubled. Set expectations now, not at week-six.
The reply template walks the client through the change without naming the brokerage. It positions the path as one you control rather than one you are forced into.