Lenders should offer LEMs, says broker
The popularity and success of Location Efficient Mortgages in the United States could be applied to major urban centres like Toronto, says one broker, and lenders north of the border could easily include it as one of their mortgage products
Network head raises concerns about REDX, AMP
No one less than a network head is warning mortgage professionals across the country after finding four REDX reports attached to his own name, specifically tied to his AMP designation.
Tourloukis: Refi rule strands 'collateral' clients
Moving clients with high-ratio collateral mortgages is now virtually impossible given Flaherty’s mortgage rules changes, says one of Canada’s highest volume brokers, pointing to lender interpretation of refinancing limits.
Poloz to be next BoC governor
In a somewhat surprising move, Stephen Poloz has been appointed the new governor of the Bank of Canada, replacing Mark Carney on June 1.
Brokers benefit from the Star treatment
The country’s largest newspaper is once again giving brokers the Star treatment – showcasing their bank-defying expertise at winning rates lower than 3 per cent.
Eisner ready to defend top broker status
The CMP Top 75 Brokers list is back – will you be on it this year? CMP magazine is now calling for broker submissions for its ranking of Top 75 Brokers by funded volume for 2012.
‘Micro branches’ for BMO
The Bank of Montreal is testing so-called micro branches in high-density urban areas, with a small staff able to provide mortgages among other services -- an old idea that may skirt concerns about the banks.
Mortgage Chat takes to Twitter Thursday
Invis/MI brokers are deepening the company’s relationship with rate site Kanetix, announcing the launch of a monthly web chat aimed at promoting their value-add to primarily rate-focused shopper.
Certified in-house training needed, says broker
Brokers know there is a problem with a lack of training among agents, but it is time they took the lead and instituted a universal in-house training program, says one principal broker.
Non-compete clause opened the door to success
MortgageBrokerNews is continuing its series of features on the finalists for Broker of the Year in both categories -- the under 25 employees and the 25 and over. This year’s group is the most diverse, spanning the country. Winners in both categories will be named at the upcoming Canadian Mortgage Awards on May 10 at the Liberty Grand in Toronto.