Brokers use 'lenders' survey to convey beefs
Fears of a market slowdown are adding a sense of urgency to this year’s CMP Brokers on Lenders survey, with mortgage professionals looking for a definitive way to convey their expectations to banks and mono-lines.
Time to lower minimun volume requirements?
Stricter mortgage rules threatening to cool down the housing market are fueling broker hopes lenders will soon lower their minimum volume requirements to compensate for a drop-off in business.
Broker: CIBC giving brokers raw deal
Brokers are getting a poor deal in CIBC’s offer to buy back their accumulated FirstLine BasisPOINTS, according to some mortgage brokers pointing to possible tax implications.
Banks hint at renewed rate war
Banks are tipping their hand as to just how much appetite they still have for mortgage lending, with RBC pointing to the continuing low-rate environment and the offset it provides households swimming in debt.
Broker warn clients about longer auto loan terms
More and more Canadians are extending the amortization on the car loans as a way of qualifying for bigger mortgages, according to a new survey from J.D. Power and Associates.
CIBC offers settlement to brokers
CIBC is now putting a formal settlement before FirstLine Brokers to compensate them for outstanding BasisPOINTS.
Mortgage rules stress need for stress-testing
A survey suggesting a significant rate hike would challenge half of Canadian homeowners may be a wake-up call for brokers encouraging clients to max out preapprovals.
Bank dissatisfaction benefits brokers
It’s one bit of news brokers are likely to capitalize on, with a new study suggesting customer satisfaction with the Big Five – from their mortgages to their rising fees to their brands – is on the decline.
Falling consumer debt challenges mortgage rules
A new Equifax report suggests Canadians began making real strides in cutting household debt before the new mortgage rules came into effect, raising concerns the government was too quick off the mark.
Brokerages extend their reach beyond mortgages
It's the ultimate in proactive thinking, with some mortgage brokers moving to diversify their product offerings outside of mortgages and ahead of a market slowdown.