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It may be a controversial tactic, but one broker has admitted to using it to discourage clients from shopping for rate at the big banks.
The International Monetary Fund has suggested the Canadian government should tighten the lending rules for uninsured mortgages, which it believes are contributing to an overvalued housing market.
Government interference in the mortgage industry has a history of frustrating brokers, but one leading player believes CMHC changes could be the key to reining in collateral charge mortgages.
Brokers often complain about the prevalence of part-time brokers and one industry professional has suggested higher fees and emulating the real estate agent model could rectify the problem.
Brokers are voicing their displeasure with a recent change made by a big bank that will affect past and future clients.
One of Canada’s most influential not-for-profit research organizations recently published its yearly Long-Term Economic Forecast, which include its predictions for the housing and mortgage markets for the next few years.
In what one industry player is referring to as a “great example of bank greed,” one big bank has tacked on a monthly fee to one of its most popular programs among brokers.
Readers are debating mortgage debt versus consumer debt after the CMHC released previously confidential remarks about its concern for the housing market, but is it time to finally put that discussion to bed?
People put a lot of time and money into prepping their house for a sale but agency in Europe may take the cake.
The lack of transparency surrounding collateral charge mortgages at one big bank has sparked furious debate among mortgage brokers.