Dickson stepping down as OSFI head
A source at OSFI is now confirming the regulatory chief who ushered in the tightest lending guidelines in recent history will step down after her one and only term ends.
Brokers taking on the mantle of money managers
More and more industry professionals are becoming informal investment advisers in addition to brokering, helping clients better balance their lifestyles and finances.
Church-and-State separation crucial for in-house MICs, say brokers
Forming an in-house MIC was one of the more popular sessions at the recent Mortgage Summit – and the most important message brokers came away with is the need to keep those writing the deals and those approving the deals at arm’s length.
Eisman upbeat on U.S., down on Canadian housing
The man who earned his street cred by betting against subprime mortgages in the U.S., said he is pessimistic about the Canadian housing market where rising prices haven’t been accompanied by personal income growth.
Twitter not just for celebrities, says broker
Twitter is helping brokers grow their businesses, and the twittering and tweeting at last week’s Mortgage Summit was indicative of the growing popularity of this social format.
Broker ensnarled by REDX error
A Toronto broker wants the same high standards currently applied to mortgage brokers placed on REDX reporting – having herself fallen victim to an apparent case of mistaken identity.
Brokers urge prudence while economist urges rate bump
Incoming Bank of Canada Governor Stephen Poloz is already getting advice from a C.D. Howe economist urging him to raise his overnight rate, but brokers are staying on message suggesting he should leave well enough alone.
GTA condo rentals skyrocket while sales plummet
The tightening of the mortgage rules have had their effect – driving first-time homebuyers into the condo rental market, pushing average rents in the GTA to a record $1,856, and denying brokers those clients frustrated by Jim Flaherty’s stricter rules.
Little risk of CMHC meltdown, says economist
Economists are standing up to address concerns about the soundness of Canada Mortgage and Housing Corp’s portfolio, answering speculation that the insurer would need a bailout should the housing market go south.
Great agents born or made?
The skills for writing a contract are there with new agents, say brokers, but it is the crucial qualities that make a good salesperson which are most lacking.