Brokers back up rhetoric with business
New market share numbers suggest brokers are backing up their rhetoric about preferring to use monolines over the big banks as never before.
New monolines: The little engines that could
An explosive fourth quarter for two growing monolines suggests smaller non-bank lenders are increasingly the little engine that could.
FirstLine deals a blow to CIBC profits
CIBC’s decision to limit broker originations to its own network following the closure of FirstLine is now reflected in its bottom line, specifically its Q1 results.
Merix/Paradigm Quest wins new owner
Controlling interest in Merix Financial has been sold to a large international equity firm, the lender’s CEO Boris Bozic told MortgageBrokerNews.ca, also sharing the news with employees Thursday.
Worry over rule changes grows
It may be the understatement of the year, but early poll results suggest worries about the impact of last July’s rule changes continues to grow as the market slows.
B.C. brokers urge a rethink of planned MIC regs
MBABC is asking the securities commission to rethink how it will regulate MICs in B.C.
Brokers support CMHC foreclosure policy
CMHC’s request Realtors refrain from labeling properties as "in foreclosure" on MLS was, in fact, designed to protect the market from the kind of collapse the U.S. is still recovering from, suggest brokers supportive of the policy.
Low rates pay big dividends for BMO
BMO is now sharing details about the infamous 2.99 campaign that sparked last year's vicious rate wars, suggesting it brought in a sizable number of new clients -- customers who didn't just stop at taking out a mortgage.
Equitable Trust: Bank status won't affect ties to brokers
Equitable Trust's interest in becoming a bank should not be seen as a move to reduce its reliance on mortgage brokers, said the monoline's president.
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.