Broker news forum - have your say
Broker news forum is the place for positive industry
interaction and welcomes your professional and informed opinion.
U.S. mortgage delinquencies remain at record levels
2010-02-26 4:45:27 AM
One in 10 borrowers is seriously delinquent on their U.S. mortgage, with their payments at least 90 days past due or in foreclosure. That compares to one in 16 borrowers a year ago and one in 33 two years ago, according to the Mortgage Bankers Association.read more
Will the Insured Mortgage Purchase Program continue?
2010-02-26 1:49:39 AM
With reports the federal government will cut a number of its initiatives aimed to help banks through the financial crisis in next week's budget, there is talk about whether the $125-billion Insured Mortgage Purchase Program will continue.read more
From the Press: What people are saying about the new mortgage rules
2010-02-20 5:05:02 AM
A day after Finance Minister Jim Flaherty announced three changes to mortgage rules in Canada, it appears the overall response from the financial community has been favourable; however, questions still remain, including whether clients must qualify at five-year posted rates or five-year discounted rates. Here's a roundup of what's being said in the press:read more
Genworth already using potential new mortgage rule
2010-02-14 2:57:00 AM
The federal government is considering a new mortgage rule where clients who take out variable rate mortgages must be qualified based on a higher interest rate, according to the Globe and Mail - a practice Genworth Financial already has in place.read more