Broker: Time for channel to help subprime orphans
Broker channel associations and lenders must lobby government on behalf of homeowners effectively orphaned by fleeing subprime lenders and blocked from switching to A lenders because of the new refi rules, said a mortgage professional grappling to keep borrowers in their homes.
Brokers: More mortgage rule changes may be necessary
A surprising number of brokers are echoing the sentiments of a leading bank economist, suggesting the government would and should ratchet down mortgage rules yet again – but only if consumer debt levels creep back up and only if they’re phased in.
MAC 'Super App' expands lending options
Mortgage Alliance is making it easier for brokers to access lenders, with the launch of a new “Super App” module for its MortgageBOSS. The one-step program allows brokers to input application details, electronically canvass top broker lenders for “the best fit” and, with the push of a button, send it off to one of those lenders.
REMIC helps build Habitat for Humanity
REMIC – and the hundreds of Canadians it trains to become mortgage agents – is setting a course for philanthropy, kicking off a campaign focused on building the coffers of Habitat for Humanity.
Overheated markets push brokers to trailer fees
As a hedge against a “very probable” correction in B.C. home prices, a leading broker is actively moving to trailer fees, a way of protecting income at renewal for high-ratio clients, who may ultimately find themselves under water.
True North Mortgage among PROFIT's 'Hot 50'
Profit magazine has once again given the nod to True North Mortgage, naming the expanding brokerage to its annual ranking of Canada’s top new growth companies – a.k.a. its Profit HOT 50.
Mortgage Revolution takes on AMP designation
The head of a national broker network – and the “Mortgage Revolution” – is ramping up lobby efforts to increase qualifying standards for the AMP designation, arguing the barrier to entry is simply too low to promote industry professionalism.
Bob Ord returns to broker channel
He’s back... Mortgage industry veteran Bob Ord will now lead a newly-formed MIC – focusing on non-conforming residential lending.
RBC adds to its ranks for the rate wars
It’s an indication of just how committed RBC is to winning this year’s rate wars, with the mega bank taking on 1,000 new branch employees in the last 14 months – a large percentage of them mortgage specialists and five times as many new workers as it took on the previous year.
HST repeal offers 'short-term' pain, long-term gain
The people of B.C. have spoken, and their plans to axe the HST are poised to grow originations for brokers when homebuyers snatch up new high-end condos now idling on the market. But there may be some “short-term pain” to get through before that payday.