The province is proposing to raise annual fees paid by mortgage professionals. Two veterans react
One broker is frustrated with having to explain the downside of taking “mortgage payment vacations” and is calling on the big banks offering them to come clean with their clients.
Centum Financial Group announced Tuesday the appointment of its new Chief Executive Officer.
The lender providing the latest 2.99 per cent five-year fixed rate has been revealed and the product, no way resembles, BMO’s controversial “no friller” that captured media headlines two years ago.
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.
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 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.
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.
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.
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?
Brokers can expect the Mortgage Brokers, Lenders, and Administrators Act (MBLAA) to continue to permit charging a fee for “simple referrals.”