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.
Broker doubts AMP changes are sufficient
Disaffected brokers are now mulling over a seismic change to the AMP designation, although some doubt the plan is enough to bring them back into the fold – even with the promise of an exclusive certification.
Broker sentiment poll now open
Last year’s Broker Sentimental Poll revealed brokers still relied on traditional word-of-mouth as their primary referral source but with the growing popularity and influence of rate sites, has popular opinion changed a mere year later?
Referral fee rules to remain untouched according to recommendation
Brokers can expect the Mortgage Brokers, Lenders, and Administrators Act (MBLAA) to continue to permit charging a fee for “simple referrals.”
Mortgage Summit set for May 8
Mortgage brokers were queuing up for the Mortgage Summit even before organizers were officially ready to launch it; that launch, however, comes today, with the CMP-powered event expected to attract 600 attendees.
Brokers' call for bank specialist regulation fails
Vehement calls from mortgage brokers for bank specialists to fall under the same regulatory regime have failed to convince Steven Del Duca, whose recommendations for the MBLAA review to Ontario’s Finance Minister called for the exemption to continue.
Broker scores at trade shows
These potential clients may have more pressing things to worry about than mortgages, but one broker is using a unique strategy to get before those consumers as they prepare to make a life-altering change..