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Mortgage Broker News | 08 Dec 2016, 08:15 AM Agree 0
The proliferation of online shopping will follow the decline of broker-mediated mortgage selling, says an industry veteran
  • Omer Quenneville | 08 Dec 2016, 09:35 AM Agree 0
    TD and Scotia are the only 2 banks left in the broker channel. Any mortgage broker that would place a client without a lot of counselling are not providing the basic of services to the client. Scotia as of December 14th, 2015 registers all its mortgages as a collateral charge which heavily restricts a client options down the road. "B" lenders as I refer to them as "Better" lenders will likely provide the best options and if a mortgage broker knows what they are doing, they can educate the borrower and save them thousands down the road. I personally placed two mortgages with Scotia prior to the December 14th change over closing December 15th and we specifically requested conventional mortgages numerous times. Scotia went ahead and still registered one of them as a collateral charge, we are currently looking into the second one to confirm. This is pure evil and the news we need covered.
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