BMO grows originations despite mortgage rules
BMO’s big mortgage numbers for this quarter come at a cost, and that is the inevitable margin compression from low interest rates.
Broker course open to non-agents
CAAMP is opening up its broker education program to “those who deal with mortgage brokers or want to expand their knowledge about the industry.”
Brokers win new market-tracking tool
Knowing neighbourhood demographics in detail – from homeowner movement to pricing on the street-by-street level – is a critical advantage for brokers and one a new index aims to provide them.
IRD calculators gaining popularity
Brokers can warn clients about the pitfalls of IRDs and penalties, but it is a bit like leading a horse to water.
Lender aims to take the pain out of penalties
It is a familiar story – a client looking to refinance, but facing a prohibitively high penalty.
Still, Bruce Schoenne of PayLessPenalty.com has a solution, one some brokers may say sounds too good to be true.
Broker: clients need 24 hours to read fine print
If a home is the biggest purchase clients will ever make, they should at least be given a chance to read the documents they’re asked to sign, says one industry veteran, pegging that interval at 24 hours.
Brokers as much to blame as banks?
A MortgageBrokerNews.ca article detailing one man’s battle with TD over a $17,000 mortgage penalty generated a maelstrom of comments and criticism not only for lenders, but brokers.
Brokers to FSCO: breathe new life into AIR
Nobody likes homework, and the Annual Information Return can seem very much like it for principal brokers in Ontario, now facing a $1,000 fine if they fail to hand in that assignment before April 1.
Client uses Twitter to challenge TD mortgage
Before social media, if your clients had a beef with the bank, you basically complained to the lender and they to their friends, and that is where it would end.
It's the best and worst of times for brokers
It may be a challenging time for brokers, but it's also a good one, say players pointing to lenders dropping rates and networks sweetening the deal for their members.