Latest news

  • MCAP feasts on FirstLine spoils

    New volume numbers suggest MCAP was the chief beneficiary of FirstLine’s shutdown.

  • Toronto brokers in tough

    Brokers in Canada's largest market now have tangible proof of what they've long suspected, with the local Realtors association reporting a 15 per cent year-on-year decline in home sales for February, even as the average sales price rose 2 per cent over the same year-ago period.

  • Trailer fees require accountability

    Lenders need to be held accountable for trailer fee commissions, and CAAMP is the body that should do it, says one B.C. broker.

  • Big banks are abusing their power

    One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following BMO’s announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust.

  • Broker urges investment over trailer fees

    The issue of trailer fees is once again sparking debate among brokers as they look to secure their financial futures in very insecure times.

  • Brokers back up rhetoric with business

    New market share numbers suggest brokers are backing up their rhetoric about preferring to use monolines over the big banks as never before.

  • New monolines: The little engines that could

    An explosive fourth quarter for two growing monolines suggests smaller non-bank lenders are increasingly the little engine that could.

  • FirstLine deals a blow to CIBC profits

    CIBC’s decision to limit broker originations to its own network following the closure of FirstLine is now reflected in its bottom line, specifically its Q1 results.

  • Merix/Paradigm Quest wins new owner

    Controlling interest in Merix Financial has been sold to a large international equity firm, the lender’s CEO Boris Bozic told MortgageBrokerNews.ca, also sharing the news with employees Thursday.

  • Worry over rule changes grows

    It may be the understatement of the year, but early poll results suggest worries about the impact of last July’s rule changes continues to grow as the market slows.