CMHC offers valiant defense of Emili
CMHC is now defending its Emili against an onslaught of criticism the system’s database routinely overvalues properties by as much as 5 per cent to 15 per cent.
Brokers: Keep Emili
Any move away from automated valuation – and toward appraisers – could hurt clients, say brokers, anticipating fallout from a media report suggesting CMHC’s system inflates home prices.
Market growth beats naysayers
The unsinkable Canadian real estate market appears to be just that, with new numbers pointing to continuing price growth in the country’s biggest market, despite fears of a correction.
Unsecured credit card raises concerns
It’s one way to diversify revenue in a slowing market, but the idea brokers will soon be helping clients into unsecured credit cards isn’t sitting well with some industry observers, suggesting it runs counter to their primary mandate.
Brokers: All monolines must adopt penalty disclosure rules
The big banks have now moved to post information on their websites about how exactly they calculate prepayment penalties, with brokers concerned some monolines will ultimately fail to follow suit.
CIBC borrows page from broker handbook
CIBC is hoping a bump-up in its weekend hours will help fill the void left by mortgage brokers with the bank's decision to close FirstLine.
Housings starts fall ... with condo demand
It's another sign that times are changing for mortgage brokers, with Canada’s condo boom finally starting to slow as housing starts fall in line with demand.
Brokers fear more compensation cuts
Mortgage professionals are worried First National's compensation cut will see other lenders follow suit or -- what's even more sinister -- adjust their interest rates to force broker buydowns.
Murphy: Gov't may have jumped the gun
The one-two punch of this summer's mortgage rule and guideline changes may overwhelm the housing market, the president of CAAMP said during a national TV broadcast this week.
Brokers win unsecured credit card program
Brokers are gaining an extra revenue stream with an unsecured credit card program Dominion Lending Centres is ready to drop next month, according to the mortgage broker network.