Latest news

  • BMO grows originations despite mortgage rules

    BMO’s big mortgage numbers for this quarter come at a cost, and that is the inevitable margin compression from low interest rates.

  • Broker course open to non-agents

    CAAMP is opening up its broker education program to “those who deal with mortgage brokers or want to expand their knowledge about the industry.”

  • Brokers win new market-tracking tool

    Knowing neighbourhood demographics in detail – from homeowner movement to pricing on the street-by-street level – is a critical advantage for brokers and one a new index aims to provide them.

  • IRD calculators gaining popularity

    Brokers can warn clients about the pitfalls of IRDs and penalties, but it is a bit like leading a horse to water.

  • Lender aims to take the pain out of penalties

    It is a familiar story – a client looking to refinance, but facing a prohibitively high penalty. Still, Bruce Schoenne of PayLessPenalty.com has a solution, one some brokers may say sounds too good to be true.

  • Broker: clients need 24 hours to read fine print

    If a home is the biggest purchase clients will ever make, they should at least be given a chance to read the documents they’re asked to sign, says one industry veteran, pegging that interval at 24 hours.

  • Brokers as much to blame as banks?

    A MortgageBrokerNews.ca article detailing one man’s battle with TD over a $17,000 mortgage penalty generated a maelstrom of comments and criticism not only for lenders, but brokers.

  • Brokers to FSCO: breathe new life into AIR

    Nobody likes homework, and the Annual Information Return can seem very much like it for principal brokers in Ontario, now facing a $1,000 fine if they fail to hand in that assignment before April 1.

  • Client uses Twitter to challenge TD mortgage

    Before social media, if your clients had a beef with the bank, you basically complained to the lender and they to their friends, and that is where it would end.

  • It's the best and worst of times for brokers

    It may be a challenging time for brokers, but it's also a good one, say players pointing to lenders dropping rates and networks sweetening the deal for their members.