"Vancouver mortgages are rapidly deteriorating in quality," one recent report claims. That’s just not the case, according to one leading broker who operates in that market
With household debt at record levels, one B.C. man’s fast foreclosure serves as a cautionary tale for the rest of Canadians.
Those workers who make up the millennial age group have surpassed their Generation X elders in North America – but the demographic of those approving the loans remains in the mid-50s in age.
Brokers have been frustrated by tightened underwriting from both the insurers and the monolines, and one lender has stepped up to provide some more clarity on how premiums are determined.
If the trend continues, brokers in this market may experience dwindling deals as price growth prohibits first-time buyers from entering the market.
When talking about the five C’s of credit, there is a difference in where conventional and private lenders place the order.
Brokers need a Field of Dreams mentality when it comes to making their reputation work for their business. Build it and they will come…
Brokers believe these former mortgage professionals make some of the best underwriters and BDMs.
Are brokers powerless when it comes to insurers costing them deals?
Opportunities for brokers in the private lending space are there – but the broker needs to step up or risk losing that valuable connection.
It’s frustrating enough getting a deal approved by lenders but now insurers are increasingly rejecting even lender-approved deals.