News

  • CREA confirms broker market observations by Vernon Clement Jones | 15 Oct 2012

    New, tighter mortgage rules appeared to push home sales off the proverbial cliff September, the overall number falling 15 per cent from a year ago, according to a new report from CREA. read more

  • Brokers: Banks abusing Emili by Vernon Clement Jones | 12 Oct 2012

    If Emili is the baby, rogue banks are the bathwater, say brokers pointing to ethical lapses by transitory mortgage specialists using the valuation system. read more

  • CMHC offers valiant defense of Emili by Vernon Clement Jones | 12 Oct 2012

    CMHC is now defending its Emili against an onslaught of criticism the system’s database routinely overvalues properties by as much as 5 per cent to 15 per cent. read more

  • Brokers: Keep Emili by Vernon Clement Jones | 11 Oct 2012

    Any move away from automated valuation – and toward appraisers – could hurt clients, say brokers, anticipating fallout from a media report suggesting CMHC’s system inflates home prices. read more

  • Market growth beats naysayers by CMP | 11 Oct 2012

    The unsinkable Canadian real estate market appears to be just that, with new numbers pointing to continuing price growth in the country’s biggest market, despite fears of a correction. read more

  • Unsecured credit card raises concerns by Vernon Clement Jones | 10 Oct 2012

    It’s one way to diversify revenue in a slowing market, but the idea brokers will soon be helping clients into unsecured credit cards isn’t sitting well with some industry observers, suggesting it runs counter to their primary mandate. read more

  • Brokers: All monolines must adopt penalty disclosure rules by Vernon Clement Jones | 10 Oct 2012

    The big banks have now moved to post information on their websites about how exactly they calculate prepayment penalties, with brokers concerned some monolines will ultimately fail to follow suit. read more

  • CIBC borrows page from broker handbook by Vernon Clement Jones | 09 Oct 2012

    CIBC is hoping a bump-up in its weekend hours will help fill the void left by mortgage brokers with the bank's decision to close FirstLine. read more

  • Housings starts fall ... with condo demand by Vernon Clement Jones | 09 Oct 2012

    It's another sign that times are changing for mortgage brokers, with Canada’s condo boom finally starting to slow as housing starts fall in line with demand. read more

  • Brokers fear more compensation cuts by Nestor Arellano | 05 Oct 2012

    Mortgage professionals are worried First National's compensation cut will see other lenders follow suit or -- what's even more sinister -- adjust their interest rates to force broker buydowns. read more