Latest news

  • Brokers support CMHC foreclosure policy

    CMHC’s request Realtors refrain from labeling properties as "in foreclosure" on MLS was, in fact, designed to protect the market from the kind of collapse the U.S. is still recovering from, suggest brokers supportive of the policy.

  • Low rates pay big dividends for BMO

    BMO is now sharing details about the infamous 2.99 campaign that sparked last year's vicious rate wars, suggesting it brought in a sizable number of new clients -- customers who didn't just stop at taking out a mortgage.

  • Equitable Trust: Bank status won't affect ties to brokers

    Equitable Trust's interest in becoming a bank should not be seen as a move to reduce its reliance on mortgage brokers, said the monoline's president.

  • BMO grows originations despite mortgage rules

    BMO’s big mortgage numbers for this quarter come at a cost, and that is the inevitable margin compression from low interest rates.

  • Broker course open to non-agents

    CAAMP is opening up its broker education program to “those who deal with mortgage brokers or want to expand their knowledge about the industry.”

  • Brokers win new market-tracking tool

    Knowing neighbourhood demographics in detail – from homeowner movement to pricing on the street-by-street level – is a critical advantage for brokers and one a new index aims to provide them.

  • IRD calculators gaining popularity

    Brokers can warn clients about the pitfalls of IRDs and penalties, but it is a bit like leading a horse to water.

  • Lender aims to take the pain out of penalties

    It is a familiar story – a client looking to refinance, but facing a prohibitively high penalty. Still, Bruce Schoenne of PayLessPenalty.com has a solution, one some brokers may say sounds too good to be true.

  • Broker: clients need 24 hours to read fine print

    If a home is the biggest purchase clients will ever make, they should at least be given a chance to read the documents they’re asked to sign, says one industry veteran, pegging that interval at 24 hours.

  • Brokers as much to blame as banks?

    A MortgageBrokerNews.ca article detailing one man’s battle with TD over a $17,000 mortgage penalty generated a maelstrom of comments and criticism not only for lenders, but brokers.