Latest news

  • Secrets for stealing (clients) from the bank

    Growing interest rates may ultimately make it harder for brokers to take condo clients away from a rate hold with the bank, but one leading broker is offering his strategy for stealing business away despite that changing market.

  • Another bank, monolines hike rates

    Following BMO’s lead – which raised its fixed rates on Tuesday – both RBC and a number of monolines have raised their rates. And another big bank is expected to announce its increase very soon.

  • BMO gives a gift to monolines

    The bank that rocked the market with its “2.99 no-friller” announced Tuesday it will be raising the rate on its five-year, fixed-rate mortgage to 3.79 per cent from 3.59 per cent, widening the competitive edge brokers enjoy through monolines. At least for now, say industry players.

  • Brokers on lenders teaser: turnaround times

    Anecdotal feedback may hint at growing dissatisfaction with lender turnaround times, but preliminary results for CMP’s Brokers on Lenders survey paint a different picture -- especially in light of an identical poll of Australian brokers.

  • Broker boom still in the offing

    He told you so. Nova Scotia’s real estate market was abuzz with speculation after news of a $25 billion shipbuilding contract was announced in late 2011. Brad Compton of Invis, however, warned that brokers and property sellers alike shouldn’t count their real estate boom before it hatches – something echoed in data now pointing to a 9 per cent drop.

  • Closing time: Moving the storefront online

    The storefront is dying as more and more brokers are ditching them in favour of catching eyes online and not on the street.

  • Using Twitter to bolster your community... and client base

    It may be impossible to quantify exactly how much business Twitter drives to a company, but one leading broker – who has organized successful community events through Twitter to bolster his hometown’s economy – believes the social media platform is invaluable for building connections.

  • To tweet or not to tweet; for brokers, that is the question

    He may have over 14,000 Twitter followers, but Jessi Johnson of Verico mortgagebrokerteam.ca has scaled back on his Twitter activity – now convinced it's a lackluster business development tool.

  • Brokers buoy B lender

    Equity Financial Trust’s decision to focus on mortgages has been a good move, with the release of its second quarter numbers hinting at the growing popularity of B business in the wake of ever-tightening lending rules.

  • Underwriter's background paves the way?

    Do you know where your dedicated underwriter comes from? It could in fact make a difference, argues one broker pointing to the benefits of dealing with former employee of a mortgage insurer.