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Mortgage Broker News | 03 Oct 2012, 08:00 AM Agree 0
B2B Bank is the latest lender to drop the LTV ceiling on its HELOCs in keeping with OSFI guidelines, but the lender has left the door open for brokers seeking up to 80 per cent LTV for their clients.
  • Andy | 04 Oct 2012, 05:00 AM Agree 0
    Then there’s the not so savvy attempted fraudsters: I had a client last month ask me if she could just “white out” the CRA balance owing on her NOA. I said “Well, I’m certain that you have the ability to do it, but if you send it to me I have to call the RCMP.” Then I fired her explaining that I would now have to treat all her supporting documents as questionable and that I just wasn’t prepared to continue our relationship if I couldn’t trust her AND I wasn’t prepared to put any of my lenders, and my very valuable lender relationships, at risk.
    All of us want to get paid, but if any of us ever gets even a whiff that something’s not right, the best thing to do is err on the side of caution and walk away because our hard-earned reputations are worth far more than any amount of money, and the hassles of an investigation would end up jamming up valuable time that could be used to service honest clients.
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