Brokers making up for drop in refi business
Refinances may be down due to tightened lending guidelines, but brokers are turning to an old stand buy that has some worried desperate clients will be taken advantage of.
Broker network launches new consumer site
A major mortgage broker network unveiled its new website, which focuses on consumer education.
Broker: 2.99 promotion lacks major feature
That hotly-debated 2.99 per cent promotion from Industrial Alliance may, indeed, put standard commissions in the pockets of brokers using it to make waves in the market, but the absence of one key feature takes it off the table for others concerned it will disadvantage clients.
Broker frustrated by bank's 'mortgage vacations'
One broker is frustrated with having to explain the downside of taking “mortgage payment vacations” and is calling on the big banks offering them to come clean with their clients.
Centum Financial Group announces new CEO
Centum Financial Group announced Tuesday the appointment of its new Chief Executive Officer.
2.99 per cent lender revealed
The lender providing the latest 2.99 per cent five-year fixed rate has been revealed and the product, no way resembles, BMO’s controversial “no friller” that captured media headlines two years ago.
Bid to establish broker-run organization ramps up
An industry player has ramped up his effort to establish a national broker-run organization in the wake of widespread dissatisfaction with CAAMP’s recent changes to its AMP designation.
IMF: Additional measures may be needed to cool market
The International Monetary Fund believes Canada’s summer housing boom was a fleeting phenomenon that will likely give way to a more stable market; though it also argues additional measures may be needed, which could include higher down-payment requirements.
The 2.99 per cent five-year fixed is back
The rate that attracted Jim Flaherty’s scorn is back, with at least two mortgage brokers offering a 2.99 per cent five-year fixed rate mortgage.
Broker: Deals require more planning to protect efficiency ratios
The push to efficiencies has slowed file processing down, with brokers having to more carefully plan and execute each deal before they even begin the paperwork.