Another high-level CMHC staffer gone
Marc McInnis, the VP of insurance underwriting, servicing and policy for CMHC has stepped down, with no reason given.
Lenders slowly returning to southwest Ontario
When the recession hit, brokers turned to the B lenders to bridge the gap during the lean years.
CMHC's requiem for refis?
Refis through CMHC seem increasingly a thing of the past, with Q1 results pointing to an almost-70 per cent drop – a year-over-year decline dwarfing any dip in new mortgage volumes.
CMHC declines raise underwriting questions
CMHC’s balance sheet is now revealing the full impact of Jim Flaherty’s tinkering, although brokers want to know if the scale of that decline also reflects more rigid underwriting.
Alice Chan & MA part ways
After almost seven years as senior VP, Alice Chan and Mortgage Architects have parted ways.
Internet-savvy consumers question need for brokers
A growing number of homebuyers say they simply don’t need the advice of a broker, according to a new survey, suggesting those cock-sure consumers are prepared to go it alone with help from the Internet.
Not paying taxes bad advice, brokers agree
An article in the Financial Post suggesting people should stop paying property tax to save money is not just bad advice, but a recipe for disaster, says one broker.
Banks better than brokers, suggests report
This may not be the best way to start your day, but a new report suggests bank reps remain better at clinching deals than their broker counterparts.
ING takeover boosts Scotia’s earnings
Scotia’s acquisition of ING Direct may have been a blow to the broker channel, but it gave a much-needed boost to the big bank’s second-quarter net income earnings.
Broker and lender divided on deal
An Ontario broker and a private lender are at odds over two deals that fell through – one involving the forfeiture of thousands of dollars in commitment fees as spelled out in the contract.