Groundwork set for small banks to enter market
The federal government’s vow to encourage greater competition in financial services will pave the way for a greater number of small companies to win banking licenses, according to one leading broker who believes that benefits both the industry and the consumer.
Industry player on how to handle press, good or bad
One industry player suggests all press about brokers is an opportunity to engage clients; his opinion coming on the heels of what many consider a negative story.
Broker calls for insurers to provide flagged properties list
One industry player is calling on the mortgage insurers to make a list of red-flagged properties available to mortgage brokers and Realtors, after a deal fell through in the 11th hour.
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.