News

  • Cashbacks here to stay? by Nestor Arellano | 17 Jul 2012

    Broker desperately clinging to cashback mortgage may not have to give them up after all with, provincial regulated monolines suggesting they'll continue to offer the product even as OSFI forces the banks it regulates to ditch it. read more

  • '2.94%' -- them's fighting words by Vernon Clement Jones | 16 Jul 2012

    Look out, brokers. One mono-line has now introduced 2.94 per cent on a five-year fixed with possibly just enough standard terms and conditions to set off another rate war. read more

  • Brokers:New rules should drop approval times by Nestor Arellano | 16 Jul 2012

    The tougher mortgage rules may shut a significant number of borrowers out of the market, but mono-lines should turn that into an opportunity to speed up approval times, argue brokers. read more

  • Credit unions hounded for HELOCs by Nestor Arellano | 13 Jul 2012

    Brokers are on the hunt and credit unions are already welcoming a wave interest as new federal guidelines limit HELOCs at the banks and make their own higher LTVs more enticing. read more

  • Top Broker submissions set new record by MBN | 13 Jul 2012

    With a Monday deadline looming, the number of submissions for the CMP Top brokers list has more than doubled last year's, suggesting mortgage professionals are increasingly willing to disclose funded volumes in exchange for a marketing boost. read more

  • Veteran: Most brokers will accept CIBC offer by Nestor Arellano | 12 Jul 2012

    Mortgage brokers are now voicing relatively favourable critiques of CIBC’s offer to buy their FirstLine BasisPOINTS, with at least one veteran going so far as to call it “a pretty good deal.” read more

  • Happy days for Vancouver brokers? by Nestor Arellano | 12 Jul 2012

    Mortgage brokers in Canada’s priciest market may soon catch a break, with the release of CIBC’s latest Employment Quality Index indicating their province leads the country in creating high-paying jobs. read more

  • True North answers critics by Vernon Clement Jones | 12 Jul 2012

    True North’s 2.99 per cent offer was in no way a “loss leader,” says the company’s owner, suggesting it’s leading sales in markets where offered. read more

  • A-lenders playing BFS by the letter by Vernon Clement Jones | 12 Jul 2012

    A-lenders are already observing the strictest letter of the law on BFS applications, argue brokers largely dependent on those deals and now forced to shift as much as half of them to alternative lenders. read more

  • OSFI guidelines hit Smith Manoeuvre by Nestor Arellano | 12 Jul 2012

    New OSFI guidelines offer less than good news for mortgage brokers who deal in the Smith Manoeuvre. read more