Big lenders will follow BMO bandwagon
BMO’s posted 5-year-fixed rate of 2.99 is nothing new, says True North’s CEO Dan Eisner; still other major lenders will be quick to follow suit despite warnings from federal finance minister Jim Flaherty of a potential rate war.
Industry vet: Fraudster's sentence hurts brokers
Nova Scotia veteran Richard LeBlanc is upset that a convicted mortgage fraudster has been handed what he terms a slap on the wrist, a lenient sentence that threatens to tar all brokers with the same brush.
Assoc. prez: Federal regulation won’t 'turn' CUs
Mortgage brokers shouldn’t worry that credit unions opting for federal regulation will morph into big, bad banks, says the head of one industry association.
Brokers say “Thank you BMO”
BMO’s 2.99 5-year-fixed rate announcement has got people talking and Googling, helping kick start the spring housing market for its competitors; namely, brokers.
T.O. becomes North America's fourth-largest city
Data issued at a meeting of Toronto's Economic Development Committee may comfort brokers worried about sustainable mortgage demand, with Canada's largest city now overtaking Chicago as North America's fourth largest city.
MCAP feasts on FirstLine spoils
New volume numbers suggest MCAP was the chief beneficiary of FirstLine’s shutdown.
Toronto brokers in tough
Brokers in Canada's largest market now have tangible proof of what they've long suspected, with the local Realtors association reporting a 15 per cent year-on-year decline in home sales for February, even as the average sales price rose 2 per cent over the same year-ago period.
Trailer fees require accountability
Lenders need to be held accountable for trailer fee commissions, and CAAMP is the body that should do it, says one B.C. broker.
Big banks are abusing their power
One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following BMO’s announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust.
Broker urges investment over trailer fees
The issue of trailer fees is once again sparking debate among brokers as they look to secure their financial futures in very insecure times.