Why not beat the banks at their own game?
It may go against conventional wisdom, but one of the most successful brokers in the industry suggests using the bank’s preapprovals against them by sending your clients there first and then beating them on rate.
Independent broker on the allures of broker networks
Going it alone may not be for everyone, and even one of the country’s leading independent brokers admits the compliance and payroll systems offered by broker networks are enticing.
Bank vet criticizes financial overhaul plan
It’s not just brokers who scoffed at one financial organization’s recommendations for an overhaul to the Canadian financial system, after one former bank executive provided his own criticism.
Unique idea to improve broker education
When it comes to improving the overall professionalism and education of the industry, one broker has suggested adopting an apprenticeship model.
Was the rate cut the wrong move?
The move is having a positive impact on broker business, but one analyst believes Stephen Poloz’s decision to cut the overnight rate in late January will negatively affect the economy.
Brokers call for ‘real’ industry designation
Brokers are calling for a higher barrier to entry into the industry, and many believe the first step lies in establishing a more rigorous curriculum for attaining the broker designation.
Bank to benefit from competitor’s changes?
Brokers are already considering diverting clients from one big bank to another, following a recent change to a popular mortgage product.
Brokers stop rate shopping in its tracks
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.
IMF suggests tightening rules around uninsured mortgages
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.
Broker: CMHC should not insure collateral charges
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.