News

  • Housing starts slow in May by | 08 Jun 2012

    Not surprisingly, housing starts cooled in May after a surge in April and are expected to remain lower throughout the rest of the year, Canada Mortgage and Housing Corp. said Friday. read more

  • Veteran: OSFI decision may benefit brokers by Vernon Clement Jones | 07 Jun 2012

    For clients, it’s the one menacing clause in OSFI’s rejection of re-qualification at renewal. But for brokers, says one industry veteran, it’s may be an opportunity to grow their business. read more

  • Renovation slowdown to hit brokers by Vernon Clement Jones | 07 Jun 2012

    There's yet more indication that brokers should brace for further slowdown in refis, with a new CMHC report identifying a weakening renovation sector across much of the country. read more

  • Canadians optimistic about becoming debt-free by | 07 Jun 2012

    With household debt still a hot topic amongst economists, a new poll finds that most Canadians believe they can be debt-free by 2017 – which includes their mortgages. read more

  • OSFI nixes requalifying guideline by Vernon Clement Jones | 06 Jun 2012

    From CAAMP’s lips to OSFI’s ear. The federal regulator issued a letter Wednesday clarifying its position on re-qualifying borrowers at renewal -- effectively maintaining the status quo and confirming CAAMP's understanding. read more

  • Assoc.: Good news from OSFI on the way by Vernon Clement Jones | 06 Jun 2012

    It may be too early to break out the bubbly, but brokers – and indeed their nervous clients – appear poised to escape the most onerous of OSFI’s proposed changes, said the head of the industry’s largest association, pointing to recent discussions in Ottawa. read more

  • S&P puts Genworth under looking glass by Vernon Clement Jones | 06 Jun 2012

    S&P may not be as bullish on the Canadian housing market as brokers, adjusting the rating for Genworth Canada to “stable” from “positive,” citing concerns about consumer debt loads, among others. read more

  • Broker channel consolidation underway by Vernon Clement Jones | 06 Jun 2012

    Broker channel consolidation is again in play, with B2B Trust announcing it has signed an agreement to acquire Verico lending partner AGF Trust for a cash amount equivalent to its $242-million book. read more

  • Nat. Bank aims to grow road rep 'contribution' by Vernon Clement Jones | 05 Jun 2012

    Brokers may represent too much of a good thing for National Bank, its president suggesting the lender will ease up on their use as it focuses on growing originations through, ahem, road reps and branches. read more

  • Brokers: BoC decision may embolden OSFI by Vernon Clement Jones | 05 Jun 2012

    The Bank of Canada left the overnight rate unchanged at 1 per cent Tuesday, in the process suggesting a hike may not come anytime soon – something that could strengthen OSFI’s hand. read more