News

  • 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

  • Murphy: Gov't may have jumped the gun by Nestor Arellano | 05 Oct 2012

    The one-two punch of this summer's mortgage rule and guideline changes may overwhelm the housing market, the president of CAAMP said during a national TV broadcast this week. read more

  • Brokers win unsecured credit card program by Nestor Arellano | 04 Oct 2012

    Brokers are gaining an extra revenue stream with an unsecured credit card program Dominion Lending Centres is ready to drop next month, according to the mortgage broker network. read more

  • Brokers fight bank-controlled complaint system by Nestor Arellano | 04 Oct 2012

    Brokers are watching closely whether the government will allow Canadian banks to opt out of a federal arbitration system tracking and investigating systemic consumer problems. read more

  • Seller's market bites the dust by CRE | 04 Oct 2012

    The mortgage rules seem to be slowing the market – but perhaps a little too much for one seller's market. read more

  • Top three mortgage frauds and how to spot them by Nestor Arellano | 03 Oct 2012

    Mortgage fraudsters are upping their game in this soft market, and brokers need to remain vigilant to avoid getting caught in their web, according to industry experts, identifying the latest fraud indicators to look out for. read more

  • Royal LePage: Drop in sales on the way by MBN | 03 Oct 2012

    Brokers may have to brace themselves for further slowdown in home sales, according to a new report from Royal LePage, pointing to real signs that correction is underway. read more