Sanctions hurt key broker market
Brokers relying on Canada’s growing Iranian community are in a bind, as most lenders move to make it virtually impossible for immigrants to transfer funds from that sanctioned country.
Bill promises to re-grow broker channel
New federal legislation – if passed – could widen the broker channel for mortgage professionals now facing a shrinking number of deep-pocketed lenders.
Realtors: Condo market 'self-corrected' in June
First-time buyers in Canada’s largest market had already begun to cool their jets before the government announced mortgage rule changes specifically meant to accomplish the same, according to new stats.
Small market brokers climb top ranking
Mortgage professionals in smaller markets are increasingly stepping up to be counted in the CMP Top Brokers list. Their funded volumes are challenging mortgage professionals in much larger markets.
Market slowdown worries brokers, associations
Brokers are now getting an early sign of what’s to come, as the country’s hottest markets – including Toronto – see June home sales cool, even before the latest mortgage rules kick in.
Report supports broker concerns about rule changes
A new report suggesting Canadians have an average of 15 years left on their mortgage may support broker concerns the move to tighten mortgage rules was unnecessary.
BMO offers brokers some good news ... sort of
BMO Economics have predicted the central bank will hold interest rates until July 2013, which may be good news for brokers.
Refis bearing the brunt of 'appraisal alert'
With the maximum loan to value for refis reduced to 80 per cent, banks may be adding insult to injury with more conservative appraisals for refis, argue brokers.
RBC on brokers' side?
RBC is among the first to suggest the government might want to make those new rules temporary and not permanent, arguing they – coupled with rising interest rates – could scuttle the market.
Lenders to divide up FirstLine spoils, says veteran
Lenders have already begun to court brokers with well-established ties to FirstLine, but it’s unlikely any one of them will win most of that business, says a respected veteran, arguing four big players will initially divide the spoils.