Latest news

  • Brokers breathe sigh of relief with market projection

    Brokers may have finally seen the worst of any slowdown in business, with CMHC projecting existing home sales will hold steady, even as new building starts drop off.CMHC is offering brokers an even more modest projection on homebuying demand for early 2013, courtesy of a new quarterly report.

  • ING’s trick or treat?

    Depending on whom you ask, ING’s new volume pooling rules – all but identical to Scotia’s – may be a trick or a treat.

  • Manulife reassures brokers on poaching issue

    Officials at the centre of Manulife’s purchase of Benesure and its MPP brand say the mortgage originator has no intention of poaching broker clients.

  • Standardized broker practices, education eyed by regulators’ council

    The Mortgage Broker Regulators' Council of Canada (MBRCC) has put country-wide industry-practice and broker-education standards on the top of its agenda, but the intricacies of a professional designation that addresses the long-simmering broker-bank rep issue will have to be tackled on a province-by-province basis.

  • ING moves against pooling abuses

    ING Direct's move Tuesday to introduce a pooling cap meant to increase efficiency is already drawing positive reviews from brokers favouring those restrictions to commission cuts.

  • CAAMP course fees ignite broker reaction

    CAAMP will reveal exact fees for its upcoming Ontario mortgage broker course next month, but some members outside the country’s largest market are calling on the association to equally subsidize all province-specific courses.

  • Flaherty: Don`t blame the rule changes

    Many brokers will respectfully disagree, but Finance Minister Jim Flahery and his deputy say it’s too early to judge the impact of the government's mortgage rule changes, even despite the accelerated slowdown sincer their introduction.

  • Is MortgageBrokerNews.ca nixing anonymous comments?

    If you’re one of our many readers riled by anonymous comments on MortgageBusinessNews.ca, take cheer: a Conservative MP wants to outlaw the practice.

  • CAAMP to provide broker ed program

    The Financial Services Commission of Ontario has named CAAMP as the sole provider of the mortgage broker education program in the province for the next four years, even as some brokers express the desire for multiple course providers.

  • Call centre competing with brokers?

    One network’s plans to use a rate site to drive business to its call centres – with an eye to passing it along to its members – may be short-sighted, said one leading mortgage professional.