TD mortgage clause change
One broker said he is getting nowhere in trying to find out why TD has altered the fine print in its VRM contracts for conventional mortgages – specifically around when a spike in LTV triggers demand for a lump-sum payment or a new appraisal.
IA to withdraw 2.99 rate today
The debate about the 2.99 per cent rate is expected to shift Friday, with MortgageBrokerNews.ca learning the lender behind that rate will ditch it by 5 p.m.
Two families choose 'mixer mortgage' for co-ownership
Two Vancouver families have found an unconventional path to homeownership: Co-ownership.
Article misleads public about mortgage brokers
A MoneySense article entitled “5 things your mortgage broker isn’t telling you” has won the scorn of one broker who believes it is misleading and biased.
Brokers making up for drop in refi business
Refinances may be down due to tightened lending guidelines, but brokers are turning to an old stand buy that has some worried desperate clients will be taken advantage of.
Broker: 2.99 promotion lacks major feature
That hotly-debated 2.99 per cent promotion from Industrial Alliance may, indeed, put standard commissions in the pockets of brokers using it to make waves in the market, but the absence of one key feature takes it off the table for others concerned it will disadvantage clients.
Broker frustrated by bank's 'mortgage vacations'
One broker is frustrated with having to explain the downside of taking “mortgage payment vacations” and is calling on the big banks offering them to come clean with their clients.
Bid to establish broker-run organization ramps up
An industry player has ramped up his effort to establish a national broker-run organization in the wake of widespread dissatisfaction with CAAMP’s recent changes to its AMP designation.
The 2.99 per cent five-year fixed is back
The rate that attracted Jim Flaherty’s scorn is back, with at least two mortgage brokers offering a 2.99 per cent five-year fixed rate mortgage.
Brokers' call for bank specialist regulation fails
Vehement calls from mortgage brokers for bank specialists to fall under the same regulatory regime have failed to convince Steven Del Duca, whose recommendations for the MBLAA review to Ontario’s Finance Minister called for the exemption to continue.