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 | 22 May 2015, 09:15 AM Agree 0
Despite the CMHC’s premium hike on the horizon, one professional doesn’t believe brokers should necessarily advise clients to get ahead of it.
  • John Greenlee | 22 May 2015, 09:41 AM Agree 0
    I 100% agree on this level and many others. Always do what's best for the client and you in turn will benefit greatly.
  • Geoff Lee | 22 May 2015, 01:53 PM Agree 0
    I totally agree John...so many people in our industry live for that commission and really disservice their clients in doing so and don't educate on the mortgage product and its "personalities" and how these types of product - No Frill Mortgages - will always come back and bite them and only try to sell the rate.....anyone just pushing a rate and not educating the client is a BIG RED FLAG and to be aware of
  • Ron Butler | 22 May 2015, 02:53 PM Agree 0
    I think it is a BIG RED FLAG that a broker would try scare tactics to push clients to a FULL COMMISSION higher rate product to line his pockets. What a crock.
  • Geoff Lee | 22 May 2015, 02:59 PM Agree 0
    I agree Ron...but typically when a broker is pushing the rate and not educating their clients on anything else within this mortgage is normally associated with a product that has restrictions that will benefit the lender and not the client.....as you are well aware the best mortgage product for any client is one with no restrictions, flexibility and the sharpest rate
  • Ron Butler | 22 May 2015, 03:39 PM Agree 0
    Totally disagree, tell the client the facts of all the products carefully, thoroughly and truthfully and let the client decide, do not self-servingly manipulate the client by telling them the "best " product is only the one with no restrictions, don't lie, don't state your opinion as fact. Give the client credit, tell the truth and let the client decide even if you make less commissions from that process.
  • Geoff Lee | 22 May 2015, 03:45 PM Agree 0
    I think you are missing my point....my point is exactly what you are stating...be transparent, tell the client all the personalities of the mortgage - not just the rate - educate them in the pros and cons of the mortgage product(s) that you are presenting and let them make the final decision....the commission you earn is irrelevant as you are doing what is best for your client and not what is best for yourself
Post a reply