CMHC increase is unfair, say investors
The new CMHC premium hike for default insurance – coming into effect this Thursday, May 1 – is unfair to those who want to make a profitable business, argues one investor.
Investor cautious about Canadian market
Brokers may disagree but a noted American investor, who won big betting against subprime mortgages in 2007, now seems to be Bearish on Canadian housing, reports a Canadian financial website.
CMHC cuts two programs
The Canadian Mortgage and Housing Corporation (CMHC) announced Friday it is axing two of its insurance programs, signalling to brokers that the era of rule tightening isn’t quite over.
Networks to crack down on brokers' side businesses?
The case of a recently deceased mortgage broker who is accused of committing fraud may trigger a shift among broker networks when it comes to allowing its brokers to operate independent MICs.
Broker questions Canadians' preference for fixed rates
Following a survey that found Canadians prefer fixed-rate mortgages over variable rates, one broker believes consumers may be “misinformed.”
Network head teases acquisition
Profits are shrinking and brokers are paring down their support staff, according to one head whose network is poised to announce a big acquisition in May.
B2B Bank joins the alternative lending space
B2B Bank announced Thursday it has expanded its product offering to include two new alternative lending programs designed for clients who do not fit into traditional income profiles.
Far-out Friday: Wolf of Wall Street resurfaces
He had Leonardo DiCaprio tell his story in the smash hit movie The Wolf of Wall Street, and now the real deal Jordan Belfort has emerged from the dust of his crooked ways to cash in.
Broker welcomes news coverage and competition
Brokers are often frustrated by the amount of media attention paid to the mortgage industry – and specifically, the big banks’ ever-looming sub three per cent offerings – but one player uses it to educate clients.
Anti-spam education offered to brokers
REMIC is offering a free two hour session to help mortgage brokers prepare themselves for the upcoming anti-spam law.