Ad increase bolsters network's book
A national broker network is crediting a 20 per cent jump in its advertising budget for a double-digit spike in business – even as new home sales slip.
REDX sparks broker concerns
A system to flag “fraud and misrepresentation” has been misused by lenders, quick to pin incident reports to brokers, who have little way of getting those records removed, charges a seasoned mortgage professional – preparing to lodge his own complaint.
Lawyer files prepayment class action against CIBC
Twin class action lawsuits were filed in B.C. and Ontario late last week alleging some CIBC mortgage borrowers have been unfairly penalized by “vague” prepayment terms, the lawyer behind the action told MortgageBrokerNews.ca.
Fraud prevention back on broker agenda
A fraud-prevention expert – also a mortgage agent – is asking his peers to double check their file protection measures against a list of six essentials. It’s a way of guarding themselves, their clients and their industry against the kind of recent broker lapse grabbing headlines in Alberta.
Ambitious agents chasing broker licenses
It’s a trend that may ultimately enhance the industry’s credibility, say advocates, but an increasing number of agents are training for broker licenses even before they’ve been two years in the business – a way of building on their own personal credibility as competition with the banks and other mortgage professionals grows.
Brokers worry about lost year
Brokers worried about the challenging environment and double-digit revenue slips, you’re not alone. A leading industry trainer is identifying a very real and growing anxiety among mortgage professionals from one end of the country to the next – afraid the economy will further compromise their bottom lines.
And the survey says...
Rising home prices in the third quarter likely disguised a slowing market for real estate agents and mortgage brokers, alike, suggests a new survey from Royal LePage.
Brokers: Time for Mono-line consumer advertising
Mono-lines are facing renewed calls to increase consumer advertising, a way of helping mortgage brokers sell to often skeptical clients – inclined to dismiss all non-banks as B lenders.
Agent: Re-licensing could cull broker numbers by 10%
Re-licensing requirements for Ontario could instantly decrease the number of mortgage professionals by as much as 10 per cent said a new agent, although the loss of young entrants discouraged by the slow economy and tight market may be a good thing.
Xceed to brokers: We have returned and here's why...
“We never doubted that Xceed needed to partner with the mortgage broker industry,” Gleb Ioussoufovitch, director of sales and marketing for the non-bank lender, told MortgageBrokerNews.ca last Friday. “But we wanted to be a good partner ourselves. "