Craziest’ things any broker has done for a deal
From offering to fill a client’s fridge with $1,000 of beer to promises of a romantic “date” with a seller, a new survey suggests Realtors are resorting to all sorts of weird ploys to seal a deal in this tight market.
TD matches RBC’s five-year fixed
It’s a rate war in reverse, with TD following RBC’s decision to set a five-year fixed well above the broker’s best.
No sharp dive in housing market says CIBC economist
Brokers can breathe a sigh of relief, according to a top CIBC economist, suggesting the anticipated housing decline will not be as sharp or as long as earlier projected because of immigration.
TransUnion to brokers: consumers in tough
Consumer debt levels have now reached their highest level in ten years, according to a new report from a credit reporting agency.
Correction: DLC claims 26 agents on Top 75
CMP correction: Dominion Lending Centres, in fact, claimed the largest number of brokers on this year’s Top 75
Brokers: Cut pooling? Cut volume requirements
Fair is fair, says one seasoned mortgage professional: If lenders are bent on scrapping volume pooling, then, they must consider lowering their minimum volume requirements.
Fitch: tough times for mortgage lending
Here’s one occasion when bad news for banks is likely just as bad for brokers. Despite a solid performance by the Big Six in the first half of 2012, an international credit rating agency suggests the entire mortgage market is in for a rough ride through to the end of the year.
First Nat sparks debate on volume pooling
First Nat’s move to cut brokers compensation and end its Wizard Spending Account program has exposed a divide in the channel on the issue of volume pooling, with some suggesting the practice is now drawing to a rightful end.
RBC gives brokers a two-week lead
Brokers won't have more than two week to take advantage of RBC’s move to bump up its discounted five-year-fixed by 20 bps, caution some industry players.
Brokers seek greater transparency in lender guidelines
It's one issue likely to crop up again and again in the 2012 CMP Brokers on Lenders survey, but lenders should move now to correct it, say brokers calling for more specific guidelines and restrictions.