Last year’s mortgage rule changes placed roadblocks in front of millions of would-be buyers, but future regulatory action may prove even more difficult for them to overcome, according to one economist
Brokers have long argued the barrier to entry for the industry is too low, and the Home Trust suspension of 45 brokers is further proof that a more stringent licensing process is required.
It’s a tactic that lenders – and their underwriters – may not be too keen to implement, but one broker is suggesting his lender partners take a page out of the bank playbook.
Broker networks are recognizing that online engagement is resonating with clients, with a focus on creating personal relationships – and they are becoming more proactive in that engagement.
Home Trust delivered a message of confidence to its broker partners.
A growing number of broker channel institutions are taking a closer look at their individual corporate culture in an effort to grow customer satisfaction and the bottom line.
One seasoned broker is suggesting pressure from referral partners often leads inexperienced mortgage agents to skirt the margins and embellish income statements.
Tightened guidelines may be encouraging some mortgage professionals to take shortcuts, but that is no excuse say industry players reacting to Home Capital's move to suspend ties with several brokers
Exit plans for alternative clients are becoming increasingly important, as bundled mortgages become more prevalent
Brokers are increasingly comfortable recommending reverse mortgages; but the truth is, not every client should get a reverse mortgage
Industry players have been vindicated: the CBC has offered a sort of mea culpa for airing erroneous information about brokers and the lenders they work with