Brokers: Cut pooling? Cut volume requirements
Fair is fair, says one seasoned mortgage professional: If lenders are bent on scrapping volume pooling, then, they must consider lowering their minimum volume requirements.
Fitch: tough times for mortgage lending
Here’s one occasion when bad news for banks is likely just as bad for brokers. Despite a solid performance by the Big Six in the first half of 2012, an international credit rating agency suggests the entire mortgage market is in for a rough ride through to the end of the year.
First Nat sparks debate on volume pooling
First Nat’s move to cut brokers compensation and end its Wizard Spending Account program has exposed a divide in the channel on the issue of volume pooling, with some suggesting the practice is now drawing to a rightful end.
RBC gives brokers a two-week lead
Brokers won't have more than two week to take advantage of RBC’s move to bump up its discounted five-year-fixed by 20 bps, caution some industry players.
Brokers seek greater transparency in lender guidelines
It's one issue likely to crop up again and again in the 2012 CMP Brokers on Lenders survey, but lenders should move now to correct it, say brokers calling for more specific guidelines and restrictions.
Brokers anticipate wave of compensation cuts
Mortgage professionals are fearful a recent move by First National to lower commissions will kick start a trend, as channel lenders face fewer competitors for broker business.
Survey: First-timers hungry for 'broker' advice
It’s not quite the message TD intended to convey with its new survey of first-time buyers, but that research is helping make the case for mortgage brokers.
Realtors, a broker’s lifesaver?
Brokers might not want to hear it. But Realtor referrals may increasingly be a lifesaver as refis provide less and less safe harbour in this stormy market, say industry players.
Survey exposes gap in lender service areas
A broker ranking of lenders is likely to break down along regional lines, suggest mortgage professionals anticipating the results of this year`s CMP survey and pointing to a funding gap between big and small markets.
Brokers embrace an old friend
Hello, old friend? That new LTV cap on refis will inevitably increase the number of A clients seeking private second mortgages, says one broker specialist. It will also increase the need for broker vigilance.