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Mortgage Broker News | 15 Jul 2011, 10:00 AM Agree 0
Lender myNext Mortgage Company is now extending its reach outside Mortgage Architects and MortgageBrokers.com to the rest of the broker channel, its CEO suggesting the move will help fill the funding gap left by two recent lender defections.
  • ON Broker II | 19 Jul 2011, 05:00 AM Agree 0
    For brokers outside MB.com or MA I am sure myNext will help redefine the age old question: "who owns the client" Might as well just sent them your database.
  • John Bargis | 19 Jul 2011, 09:03 AM Agree 0
    I applaud the efforts of myNext, and certainly wish them well with their endeavors. But unfortunately when taking the historical performance of similar lenders into account, coupled with the current market conditions, there is much cause for concern. Aside from the issue of the ownership of ones data, which is not a new topic of debate in our industry, the bigger concern is the reaction of consumers if they were to receive a letter, requesting they seek financing elsewhere, should myNext not survive the carnage that in my opinion is not over yet. I'm certainly not saying myNext is doomed to failure, however if lenders the size of GMAC, and HSBC Finance, both of whom owned and operated mortgage broker houses, packed their bags and shut down their broker operations here in Canada, other smaller lenders are certainly not immune. Events like lender departures from the marketplace are not favorable to the image of our industry, as we all witnessed with the onslaught of orphan mortgages that hit the market as a result of lender departures. The uphill battle we face daily with the severe competition from the mainstream lenders is tough enough.....Just my thoughts.
  • Seriously.... | 20 Jul 2011, 03:40 AM Agree 0
    You want us to send "you" our clients. Like ON Broker II said why don't I just send you my database and call it a day. Just open the door and let the fox into the hen house....everything will be just fine...lol
  • Ont Broker | 20 Jul 2011, 05:34 AM Agree 0
    With all due respect Mr. Haditaghi, do you actually think by announcing as part of your press release you include that MB.com & M.A. Brokers will get enhanced deals with myNext either endears yourself to any other brokers or even more comical you actually think it will bring existing brokers into the corporate fold. You are kidding right?
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