Latest news

  • Grow-op registry only alienates lenders

    A bill to establish a marijuana grow operation and clandestine drug laboratory registry in Ontario will only stigmatize properties and punish consumers, says one mortgage agent.

  • Big lenders will follow BMO bandwagon

    BMO’s posted 5-year-fixed rate of 2.99 is nothing new, says True North’s CEO Dan Eisner; still other major lenders will be quick to follow suit despite warnings from federal finance minister Jim Flaherty of a potential rate war.

  • Industry vet: Fraudster's sentence hurts brokers

    Nova Scotia veteran Richard LeBlanc is upset that a convicted mortgage fraudster has been handed what he terms a slap on the wrist, a lenient sentence that threatens to tar all brokers with the same brush.

  • Assoc. prez: Federal regulation won’t 'turn' CUs

    Mortgage brokers shouldn’t worry that credit unions opting for federal regulation will morph into big, bad banks, says the head of one industry association.

  • Brokers say “Thank you BMO”

    BMO’s 2.99 5-year-fixed rate announcement has got people talking and Googling, helping kick start the spring housing market for its competitors; namely, brokers.

  • T.O. becomes North America's fourth-largest city

    Data issued at a meeting of Toronto's Economic Development Committee may comfort brokers worried about sustainable mortgage demand, with Canada's largest city now overtaking Chicago as North America's fourth largest city.

  • MCAP feasts on FirstLine spoils

    New volume numbers suggest MCAP was the chief beneficiary of FirstLine’s shutdown.

  • Toronto brokers in tough

    Brokers in Canada's largest market now have tangible proof of what they've long suspected, with the local Realtors association reporting a 15 per cent year-on-year decline in home sales for February, even as the average sales price rose 2 per cent over the same year-ago period.

  • Trailer fees require accountability

    Lenders need to be held accountable for trailer fee commissions, and CAAMP is the body that should do it, says one B.C. broker.

  • Big banks are abusing their power

    One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following BMO’s announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust.