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Mortgage Broker News | 14 Dec 2016, 08:15 AM Agree 0
There’s no denying technology has had a major impact on the mortgage industry, but has it been a blessing or a curse?
  • Omer Quenneville | 14 Dec 2016, 09:26 AM Agree 0
    I don't know how technology can save a client money. I can see it making things more efficient for the lenders but that is about it. Caution should be used by the public when using these sites and should contact a mortgage broker direct. Take a look at the mortgages TD and Scotia now offer, collateral charges. The majority of buyers do not benefit from these types of mortgages and if you don't click on the right button than it will be considered your fault for not reading the fine print. Like a realtor, their is no substitute for face to face discussions.
  • jon | 14 Dec 2016, 10:16 AM Agree 0
    Like it or not, technology will make most brokers irrelevant in a few years. Those who don't adapt will need to find another career. If robo advisers are changing investments, why would mortgage brokers be immune to changes coming. Burying your head in the sand and stating " Banks bad, brokers good" isn't a long term advantage. BTW Omer, it always makes me laugh when brokers slam TD & Scotia & they're still some of the biggest lenders in the broker market, total hypocrisy.
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