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Mortgage Broker News | 25 Jul 2011, 07:00 AM Agree 0
A private lender offering a lease-to-own model is reporting a 400-per-cent increase in “refi buy-backs” this year over last as more and more brokers send business its way and more and more Canadian families hit an economic rough patch.
  • Ron Butler | 28 Jul 2011, 08:07 AM Agree 0
    I think every mortgage broker in this country needs to think very carefully about referring a client to essentially "quit claim" their home and start paying the new homeowner / landlord rent with a 3 - year plan to get the house back THEY HOPE!!! The fact the broker receives a referral fee pulls the mortgage broker in to something that may result in litigation in the future. Let's face it, when we arrange a mortgage it is a transaction with a 100 years of history, case law and disclosure behind it. This program needs another two years before anyone actually knows the results. Tread carefully.
  • John Dearin | 01 Aug 2011, 01:36 AM Agree 0
    Beware: The one deal completed by my agent and the fees were sent directly to the agent. We know it happened but can't prove it. We questioned the BDM who gave it up, then denied it. I have advised my agents the first deal with this bunch and they are fired. They will not guarantee the fee is sent to the Brokerage. Watch your back brokers
  • Fellow Mortgage Broker in St.John's | 03 Aug 2011, 06:58 AM Agree 0
    I called the same BDM John Dearin refers to in his WARNING. I was concerned. Home Owner Soon has an Agency agreement with our Brokerage. BDM advised nothing has ever closed with John Dearin's office. Call Home Owner Soon and talk to them about your own Agency agreement. This warning is unfair and slanderous.
  • John Dearin | 04 Aug 2011, 07:32 AM Agree 0
    The warning is fair and I have the proof, I will not sign an agency agreement with Home Owners Soon until they straighten this up. I would certianly not post a slanderous statement with my name here, I would post under a nom de plumelike a coward does. Lew knows the facts on this we have spoke in the past, as does the local BDM
  • John Dearin | 04 Aug 2011, 07:35 AM Agree 0
    As an after thought Fellow Mortgage Broker, are you know telling us that this organization is providing you with confidential information about other brokerages? Did he tell you how much is completed with other agents and brokerages? HHMM?
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