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A former mortgage administrator has been found guilty of fraud in a case that the Ontario Securities Commission is referring to as a “large-scale, sophisticated mortgage investment scheme” akin to a Ponzi scheme.
Many brokers scoff at bank “relationship pricing” but at least one professional believes they are creating a more informed public: Which will benefit the broker channel.
One private insurer has quickly followed CMHC’s lead and upped its rates
Another banking veteran, now a broker, is criticizing the increasingly close relationship between Realtors and some of the big six banks, suggesting it comes at a disadvantage to clients.
After postponing the federal budget in mid-January, Finance Minister Joe Oliver has scheduled the budget for Tuesday, April 21.
Fewer lenders are allowing brokers to choose their own appraisers, and players are once again airing frustration about the appraisal process; a process one appraiser refers to as “a total racket."
A bank road rep tell-all has brokers’ backs up after he suggested the channel’s deals are “dirtier” than those funded on the bank side. But at least one lender has come to the aid of his channel player partners.
The biggest of the big banks has brought back its “employee pricing” on mortgages, but the industry argues brokers will be the biggest beneficiaries.
Canada’s real gross domestic product (GDP) fell 0.1 per cent in January due in part to sagging construction and diminishing output from real estate professionals.
At least two big banks are finally taking a page out of the broker playbook and focusing on product features instead of rate.