Forum

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Mortgage Broker News | 26 Apr 2013, 12:00 AM Agree 0
Too many mortgage brokers are missing the biggest deal killer out there, says one Vancouver broker, and it can be easily avoided with one simple conversation.
  • Omer Quenneville | 26 Apr 2013, 10:02 AM Agree 0
    I have personally seen this happen many times over. I go over in detail with my clients now about what not to do after they have been approved and I leave them a list.

    I can't believe deals die because of this. What are we doing if we are not having this conversation with our clients.
  • John Dearin | 26 Apr 2013, 11:00 AM Agree 0
    I missed something in this article? We tell all our clients the hazard of putting any credit in their name including increasing credit card debt while waiting a mortgage. It is as critical a piece of information as anything else in the process. Brokers are missing this?
  • Kevin Anderson | 29 Apr 2013, 07:30 AM Agree 0
    I wish my broker had this conversation with me.
  • Omer Quenneville | 29 Apr 2013, 10:14 AM Agree 0
    Can I ask what happened Kevin? And the end result?
  • Kevin Anderson | 29 Apr 2013, 10:36 AM Agree 0
    Bought a pre-build. Received the approval, 6 months later our vehicle breaks down and needed to be replaced. Purchased a new vehicle. Come walk through time, bank pulls a new credit bureau and broker phones us and explains that ratios are no longer within CMHC's guidelines. We had to find a co-signor or put 20% down or risk losing our deposit. Luckily my wife's father was able to co-sign. Broker said it was a condition printed in the forms we signed, but neither my wife nor I were specifically made aware of this fact.
  • Anthony | 29 Apr 2013, 12:33 PM Agree 0
    you gotta guide your client right through process until the keys are in their hands...and even doing so, at times they still goofball the deal with a new car lease just before closing...oi vei...
  • @MortgageMark | 29 Apr 2013, 02:24 PM Agree 0
    Received several emails asking what video Don was referring to... http://youtu.be/oU3cPtH2DPQ
Post a reply