A different tack for self-employed clients
Brokers continue to vent their frustration over securing mortgages for self-employed clients, but are increasingly directing them to write off less of their income, among other successful strategies.
July sales defy gravity, Flaherty
July home sales are backing up industry boasts, with new CREA numbers confirming a 9.4 per cent rise from the same month last year.
UPDATED: Broker points to cancelled preapprovals
UPDATED: At least one monoline appears to have cancelled pre-approvals written before the CMHC announcement last week, said one broker, raising concerns that other lenders will follow suit.
Who would really be the No. 1 broker?
Last year’s No.1 on the Top 75 Broker list removed himself from the running this time around but believes, contrary to growing speculation, he would come out on top even if the criteria were altered to focus on profitability.
Are mortgage brokers approachable?
Mortgage brokers are increasingly keen to hang onto their reputation as the “friendliest” financial services experts around, with community involvement still the preferred way to meet that objective.
Two new names for Brokers on Lenders survey
This year’s Brokers on Lenders survey is poised to reach deeper into the channel than any before, with two key lenders finally garnering enough broker reviews to make it into the final ranking.
DLC adds new TV spot
Dominion Lending Centres’ new TV spot features young girls talking about what their homes mean to them – a campaign acknowledging the power of women in home financing decisions.
Has Canada won its first broker-owned bank?
With several brokers holding shares in the new parent company of MonCana, many are calling it Canada’s first broker-owned bank – something exciting brokers from one end of the country to the next.
What if anything could you do?
The developer behind the Trump tower in Toronto has yet to close on 201 hotel-suites bought by investors who are unable to secure mortgages. The dilemma begs this question: What could you do for such a client?
Should brokers thank CMHC?
Thanks, CMHC! The latest move by the Crown corporation has pushed a wave of fence-sitters into making purchases today fearing increased rates tomorrow, say brokers.