Broker frustration sparks debate on client exclusivity agreements
Exclusivity agreements: It’s a controversial idea, but one whose time may have come, with IMBA President Albert Collu kicking off an industry dialogue on contracts that would penalize clients for using brokers to get better rates at the banks.
Brokerages downsize sales force
It may run counter to their competitors, but a number of brokerage heads have moved to downsize sales forces, instead of adding to them – a way of freeing themselves to grow their own sales as new home purchases slow.
Top originator urges niche brokering, focus on property investors
With an originations slowdown sending brokers scrambling to diversify their portfolios, a top Ontario player is arguing “niche” brokering may actually be the best way forward.
Brokers: Channel lenders copying bank switch-out policies
Broker channel lenders are increasingly taking a page out of the banks’ book, says brokers concerned about the growing difficulty in switching clients out of their mortgages as monolines ramp-up retention efforts.
Housing starts bode well for Vancouver brokers
A 33-per-cent rise in urban starts for British Columbia suggests Vancouver brokers focused on first-time homebuyers may benefit from a price correction coming as early as spring 2013 and resulting from an influx of new properties.
Contest giveaways bolster broker originations
Free” and “Win.” They’re two of the most powerful words in the English language, and brokers are increasingly using them to bring prospective clients through the door and signed up on the dotted line.
Economists: Vancouver brokers face further 'slowdown'
Vancouver brokers faced a slowing market in July, a deficit stagnant home values were unable to compensate for, according to the latest sales numbers.
MAC's Right Mortgage moves to Paradigm Quest
Mortgage Alliance has officially found a new home for its industry-leading Right Mortgage, giving Paradigm Quest – and “multiple lenders” under its umbrella – the nod.
Competition grows for association-annointed E&O insurers
E & O insurance providers endorsed by CAAMP and other professional associations are facing a run for their money as competing insurers win over brokerages fleeing premium hikes.
Brokers benefit from more generous rental offsets in the GTA
An increasingly tight but competitive Toronto market has lenders migrating back to the 80-per-cent rental offset, say brokers focused on property investors and now finding it easier to get their deals funded.