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Mortgage Broker News | 23 Jun 2014, 10:22 AM Agree 0
The spring season has seen rates drop to record lows and while the trend has bolstered broker business, it has also caused a back-log of files at a number Canada’s lenders.
  • Dave | 23 Jun 2014, 11:02 AM Agree 0
    The "green" bank is taking up to 10 business for an approval now. That's how long it took me to get mine. A bank at 10 days? Who's running that place? Even their own road reps are complaining they can't do business properly.
  • Brad Currie | 23 Jun 2014, 11:11 AM Agree 0
    It would be a huge help during times of high volumes, if lenders advised brokers on a daily basis of their estimated approval time and also the time to process docs. This would allow us to set the proper expectation with clients and realtors, etc.. save significant time of underwriters having to deal with follow up from brokers. Not to mention the number of deals which are submitted, approved and processed then don't fund due to timing. This is significant waste of time.
  • Lorne Collis | 23 Jun 2014, 11:55 AM Agree 0
    When a lender promises a response in 4 hours, they are not necessarily consecutive.
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