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Mortgage Broker News | 23 Apr 2015, 08:03 AM Agree 0
The government made a pledge in the federal budget that brokers can’t afford to gloss over, cautions one industry vet, worried about the possibility of higher mortgage rates.
  • Jeremy | 23 Apr 2015, 11:40 AM Agree 0
    There is a third option... A reduction in broker compensation. This would allow lenders to remain competitive. I mean some brokers have already clearly stated they are willing to work for less, so this shouldn't upset anyone, right?
  • MP | 23 Apr 2015, 04:08 PM Agree 0
    Obviously you aren't a broker!
  • Dianne Chafe | 23 Apr 2015, 04:26 PM Agree 0
    Jeremy that is like saying employees should take a reduction in their income because the cost for their employers to do business is going up!
    Think about it.
  • MP | 23 Apr 2015, 04:51 PM Agree 0
    Exactly!! What a stupid idea Jeremy!!
  • Steve | 23 Apr 2015, 06:53 PM Agree 0
    If the government hadn't milked CMHC I would understand the increases... But, if it has enough profit, you will see insurance companies, hedge funds and pension funds get into the game etc. The risk will be transferred into lots of companies hands instead of just a few
  • Jeremy | 23 Apr 2015, 09:07 PM Agree 0
    MP, I am a broker and have been for 12 years and loving every minute of it.

    Dianne, clearly you are out of touch with how businesses are run. Business 101... Employers stop the bleeding by cutting it's work force and hirer at lower wages or worse yet...not at all. Have you heard what is going on in Alberta right now with respect to oil and gas? I'm not suggesting anyone should take a reduction. What I'm saying is, you will not have a choice, if lenders went that route. Think about it!

    What I find interesting is how brokers whine and cry that lenders should pay for this and pay for that. I get it, you want your cake and to eat it too...I'm with you. But to expect lenders to absorb one cost after another and not look at broker compensation...you are delusional!

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