Latest news

  • Young college grads flocking to industry

    Lifestyle and income potential are helping the industry attract an increasing number of university grads fresh out of school, despite a slowing real estate market, growing competition with the banks and a decline in mortgage-specialist defections, according to RMAI CEO Ron De Silva, hitting on the trend during the company’s aggressive recruitment campaign.

  • Brokerage head defends volume pooling as necessary retention tool

    A veteran brokerage head is defending the controversial practice of pooling mortgage volumes as a key weapon for an industry fighting to retain promising but unseasoned talent.

  • MAC to offer originations software outside network

    Mortgage Alliance is now targeting unaffiliated brokers as potential customers for its proprietary originations software, MortgageBOSS.

  • Broker: Channel needs more one-year rate holds

    A boom in construction permits for Ontario and Quebec is highlighting the need for greater access to one-year rate holds, says the head of a leading Montreal brokerage, arguing mortgage professionals are hamstrung in their efforts to capture a bigger share of condo sales during construction.

  • Rate wars sending brokers to the B-Side

    Getting while the gettin’s good. An increasing number of brokers are deserting the rate wars, deciding to move over to the B side as a way of building a book less susceptible to the bullets of the banks and, indeed, other brokers.

  • Brokers beware: Home sales will get even slower this year, says forecast

    Year-over-year price increases in key Canadian markets are concealing a significant slowdown in actual sales, according to a national price survey released Thursday. Unfortunately, for brokers, that trend, already identified by CMHC, is expected to continue in the second half of the year.

  • Brokers re-thinking Internet lead-generation strategy

    Brokers looking to generate leads from the Internet may ultimately find it easier and, indeed, cheaper to hand the job to one of a growing number of online referral agents, suggest brokers now winning as much as a 50-percent conversion rate. Still, even then, success largely depends on one thing: rate.

  • Brokers overlooking small private lending deals, says industry veteran

    They’re the kind of subprime deals many Ontario brokers have overlooked, said a 35-year veteran of the industry, but brokers willing to connect individual borrowers with individual private investors are positioning themselves for long-term revenue growth.

  • Ontario broker lobbies for tighter 'mortgage suitability' regs

    The head of a large Ontario brokerage – and VP of the province’s mortgage broker association, IMBA – is lobbying for “better-defined” guidelines around “mortgage suitability” in the governing act, arguing it would help fend off competition from the banks.

  • Laurentian HELOC expands broker business

    Laurentian Bank’s broker arm is reporting a significant uptick in demand for its home equity lines of credit, most likely new business for brokers and not merely the re-routing of clients normally bound for the refi market.