Sale of Xceed ‘positive for brokers,’ says CEO
Concerns among brokers that Xceed will go the way of ING and FirstLine following MCAN’s announced takeover can be put to rest, says CEO Michael Jones.
Take the CMP poll
This week’s broker poll takes a look at appraisals, and just how accessible these documents are to the brokers who depend on them for information, and what - if any - changes in availability have occurred within the industry.
Brokers disagree with experts on CMHC privatization
As Jim Flaherty continues to make waves in the broker channel, limiting the use of portfolio insurance by mortgage lenders in the 2013 budget, the question of privatizing the CMHC has once again been raised as a means of levelling the lending playing field for mortgage insurance.
Ord parts ways with Invis/MI
Invis/Mortgage Intelligence is now confirming the departure of Bob Ord from the CEO position he only just assumed in June.
25 years of lending – No Foolin’!
Canada’s largest monoline will mark 25 years in the industry on April 1.
Brokers want firewall around designated underwriting
RMG’s recent move to a more centralized underwriting service may be a sign of the times, say brokers, but they’re generally more concerned with protecting the designated underwriting service they see as crucial to maintaining efficiency.
MCAN to buy Xceed Mortgage
A major Canadian portfolio MIC will soon have CMHC origination access, announcing its takeover of Xceed Mortgage yesterday.
CMP releases complete list of nominees
CMP magazine is sharing all of candidates for the upcoming Canadian Mortgage Awards, the most exhaustive and representative list in the awards’ celebrated history.
BMO backtrack to 3.09 “smoke and mirrors”
BMO’s move to withdraw its 2.99 posted rate is no more than “smoke and mirrors,” says one Ottawa mortgage broker, suggesting the bank will continue to offer even lower rates at the branch level.
Fraudsters getting smarter, better organized
An industry expert is cautioning brokers on smarter, better-organized mortgage fraudsters, more professional than the familiar mom-and-pop operations that once challenged the industry.