FSCO warns brokers and clients
The Financial Services Commission of Ontario (FSCO) has issued a warning to consumers and industry professionals that “Norton Capital Lending” is not licensed to issue loans in Ontario.
Mortgage product re-ignites mortgage wars
Move over BMO’s 2.99 “No Friller” mortgage: A new product – from an unlikely source – is the one making waves in the mortgage industry Tuesday.
Brokers enjoy busy spring?
Brokers may have noticed a slight uptick in sales last month – a positive sign following months of decreasing housing activity.
Bank joins forces with Canadian retailer
Here’s a new incentive that brokers may not be able to compete with: one big bank will offer $500 cash back when customers take out a mortgage. In Canadian Tire money, that is.
Storefronts still alive and well?
This very publication may have prematurely announced the death of the mortgage broker storefront, with at least one broker pointing to the strong traffic that model continues to win him.
No such thing as 'employee pricing' mortgages?
The Royal Bank of Canada (RBC) made headlines Tuesday with its “employee pricing" mortgage offering but brokers are far from convinced that such a product exists.
CMHC insurance in force to decline in 2014
And the trend continues, with the Canada Mortgage and Housing Corporation (CMHC) cutting the number of insured mortgages it will issue this year.
OECD calls for CMHC cuts
The Organisation for Economic Co-operation and Develeopment (OECD) has joined the list of groups calling for cuts to government-backed mortgage insurance in Canada.
Private insurers won't follow CMHC's lead
Phew! Genworth Canada and Canada Guaranty have decided not to follow in CMHC’s footsteps and change their programs for self-employed buyers. But is this only a temporary move?
Networks prepare brokers for anti-spam law
Networks – and at least one broker association -- are stepping up to help their broker partners prepare for the upcoming anti-spam legislation.