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Mortgage Broker News | 09 Oct 2014, 10:29 AM Agree 0
Healthy debate ensued among brokers, following a story about one big bank’s IRD calculations and the penalties in charges, with several calling into question the transparency provided by some lenders.
  • A Broker | 09 Oct 2014, 02:25 PM Agree 0
    It's a brokers duty to know the terms of discharge for the client in the event they should discharge their mortgage during the term. I find a lot of brokers putting the blame on others for their own lack of knowledge. Do your job and explain to the clients at inception what they may be up against in different situations.
  • Jon | 09 Oct 2014, 03:57 PM Agree 0
    funny how much brokers slam the "Big banks" about collateral mortgages & unfair pay out penalties & yet TD & Scotia are still both top 5 mortgage broker originators
  • Dave | 09 Oct 2014, 05:11 PM Agree 0
    Never understood why so many brokers send business to TD and Scotia so they can let the banks steal their clients on renewal. Must be getting good seats at the ACC I guess.
  • Dave | 09 Oct 2014, 05:13 PM Agree 0
    Never understood why so many brokers send business to TD and Scotia so they can let the banks steal their clients on renewal. Must be getting good seats at the ACC I guess.
  • Mike Jensen | 10 Oct 2014, 12:45 PM Agree 0
    I'm surprised to hear a broker quoted saying he hasn't ever place a client in a fixed mortgage. We have to match our clients to the right product, although an adjustable product might be attractive for some, it's not the right product for everyone. And how would he get around the benchmark rate for highly leveraged borrowers.
  • James Resourceful Capital Financial Corporation | 19 Nov 2014, 03:12 PM Agree 0
    Sadly one of the reasons why I am dealing less with TD nowadays. They have made changes in their contract and I in good conscience can not tell me clients that its a good deal.
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