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Mortgage Broker News | 08 Feb 2016, 05:00 AM Agree 0
Regulators have confirmed a disclosure overhaul in one province, but brokers argue the move could actually hurt clients’ interests, not help
  • Walid Hammami | 08 Feb 2016, 11:26 AM Agree 0
    So who's defending the brokers now?
    I don't see DLC, Verico and the rest coming to the rescue with lawyers. Where is CAAMP (or whatever name they have now).

    See, that's what happens when you don't have an association to protect you from the arbitrary.

    Time to unite and cut the B$.
  • Fred Y | 09 Feb 2016, 08:50 AM Agree 0
    I agree, the fee should not be disclosed. It is like asking any ordinary person how much he or she earns! Nobody's business.

    On another note, I do agree persons working in the GOVERNMENT should have pay scales made public, as the public needs to know how much they are paying the "employees".
  • WhaTheFacebook | 09 Feb 2016, 11:20 AM Agree 0
    FICOM needs to be perceived as being relevant. One way to do this is to pretend that they have the clients' best interest.

    Notice how different they are when you compare it to the regulator who "regulates" the banks. Take OFSI for example...do you see them up in arms with penalty calculations or how the bank reps are disclosing?

    Yes, disclosure is important. In this case, it is another bureaucrat barking at the wrong tree just because he/she has the time to do it.

    My bet...the FICOM big cheese spear heading this was never ever a broker in the past 2 years or so. Probably a lifelong bureaucrat.
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