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Two leading Ontario credit unions announced their amalgamation Friday; a move that will certainly cut into a chunk of big bank business and provide more options for mortgage brokers.
More data on the effects the housing market has on the economy is needed, according to one leading economist.
The Canadian Mortgage and Housing Corporation (CMHC) said it would be open to implementing risk-based default insurance and one leading broker believes the move could certainly benefit one type of home buyer.
Industry players are calling for CAAMP to change a membership rule blocking individual brokers unless all their team signs up too.
Despite the glut of condo developments expected to sprout in the next five years, a new report states Toronto’s condo market will experience a “soft landing.”
The Governor of the Bank of Canada, Stephen Poloz, stated Monday the central bank will now consider “anecdotal evidence” along with economic data when making its decisions; an approach that one leading broker believes will not aid in considering global effects on the Canadian economy.
Business has slowed for Quebec-based brokers as potential home buyers wait with bated breath for the result of its April 7 election before committing to stay in the province.
Syndicated mortgages are becoming an increasingly popular alternative revenue stream and one broker has made this type of investment his number one source of revenue.
The Canadian Association of Accredited Mortgage Professionals (CAAMP) announced Thursday it has acquired Canadian Mortgage Trends.
The Financial Services Commission of Ontario has charged a former licensed broker with 28 counts under the Ontario Mortgage Brokerages, Lenders and Administrators Act.