CMHC declines raise underwriting questions
CMHC’s balance sheet is now revealing the full impact of Jim Flaherty’s tinkering, although brokers want to know if the scale of that decline also reflects more rigid underwriting.
Alice Chan & MA part ways
After almost seven years as senior VP, Alice Chan and Mortgage Architects have parted ways.
Internet-savvy consumers question need for brokers
A growing number of homebuyers say they simply don’t need the advice of a broker, according to a new survey, suggesting those cock-sure consumers are prepared to go it alone with help from the Internet.
Not paying taxes bad advice, brokers agree
An article in the Financial Post suggesting people should stop paying property tax to save money is not just bad advice, but a recipe for disaster, says one broker.
Banks better than brokers, suggests report
This may not be the best way to start your day, but a new report suggests bank reps remain better at clinching deals than their broker counterparts.
ING takeover boosts Scotia’s earnings
Scotia’s acquisition of ING Direct may have been a blow to the broker channel, but it gave a much-needed boost to the big bank’s second-quarter net income earnings.
Broker and lender divided on deal
An Ontario broker and a private lender are at odds over two deals that fell through – one involving the forfeiture of thousands of dollars in commitment fees as spelled out in the contract.
Street gets CMHC approval to securitize mortgages
The Canada Mortgage and Housing Corporation has now confirmed Street Capital as both an approved issuer of NHA mortgage-backed securities and a seller under the CMB – a dual designation set to help brokers, according to the lender.
Small-market brokers feel the pinch
Making the big numbers in a small market is never easy – and a difficult 2012 made it all that more difficult for even the best of the best.
RBC pledges “no more outsourcing”
RBC may just have zapped some of the selling power of brokers, with the big bank now promising to never outsource Canadian jobs to foreign workers solely to save money.