Banks continue to frustrate brokers
A perennial thorn in the side of every broker, the games that banks play in order to block a broker’s deal are many. So here’s one you may be able to relate to.
Dispelling the CU myths
Increasingly competitive fixed rates at credit unions have brokers debating what if any limitations come hand in hand, especially around the question of whether those mortgages are effectively closed.
Broker: demolish marijuana grow-op houses
Brokers across the country are calling for complete disclosure when it comes to former marijuana grow-ops and one industry leader believes any house known to have formerly housed a grow-op should be demolished.
Mortgage debt keeps climbing
New Equifax data suggests that mortgage debt has eclipsed credit cards as the number one driver of household debt.
Credit unions offer best rates
Credit unions are cashing in on the opportunity to snag business from other lenders in the wake of three big banks and one monoline announcing rate increases last week.
Banks can't keep up with demand
Brokers say they are experiencing longer than average turnaround times with the banks, suggesting it could be a result of a flooded market due to collective client fears that rates will continue to increase.
Heritage Financial acquires Verico Boomerang
In a statement released Monday, Heritage Financial Group Ltd. announced it has acquired a 50 per cent stake in Verico Boomerang Financial Inc., a Calgary-based mortgage brokerage firm.
Breaking barriers between brokers and lenders
Lenders too frequently favour a “black and white” approach to qualifying clients, complain a growing number of frustrated brokers.
Monoline changes its preapprovals
One leading monoline announced changes to its pre-approval rates last week.
Catching 'cold clients' on your hook
Referral clients reign supreme, with a growing number of industry players now refusing to take cold calls.