Broker: Don't rule out more mortgage rule changes
A leading B.C. broker is suggesting it would fall to the government to again tighten mortgage rules in order to limit the number of at-risk Canadians taking on new housing debt, arguing the Central Bank’s hands are effectively tied.
A 1,000-broker pep talk?
One webinar, 1,000 brokers, and likely 10,000 opinions. Accomplishing the first of those feats is relatively easy, said industry trainer Greg Williamson, preparing to use an online discussion in early July to offer fellow brokers a strategy for “winning the rate war.”
And this survey says…broker market share staying steady
Overall market share for Canada’s mortgage brokers remains steady in 2011 at 23 per cent, although, according to the latest CMHC poll of consumers, they continue to attract just under 40 per cent of home purchase transactions.
Macquarie Financial to leave Canadian broker channel
Brokers have lost another lender, with Macquarie Financial announcing it will outsource servicing of its $8 billion mortgage portfolio to Paradigm Quest, while Canadiana Financial assumes responsibility for Macquarie's originations.
Brokers: banks now eating penalties to retain clients
There’s competition and then there’s competition with the Big Five, as a handful of Vancouver brokers point to banks and, even, credit unions now willing to eat their own substantial penalties in order to keep clients from going over to the broker channel.
Social media drives originations
Even as originations through Realtors and clients slow across much of the industry, brokers are actively developing leads and closing deals originating on Twitter, Facebook and other social media platforms.
Vancouver broker weighs in on Chinese buyers
A broker more than doubling his Chinese foreign clients in the last year is challenging the belief that language is an insurmountable barrier to accessing those buyers, now reshaping the West Vancouver and Richmond markets. Still, some, he concedes, prefer to deal with brokers of the same background.
Brokers welcome freeze on mortgage rule changes
Finance Minister Jim Flaherty is offering brokers a respite from any new mortgage rule changes like those introduced in March, suggesting he’s happy with slowing demand stemming from those spring amendments.
Baby boomers offering boon for brokers
A veteran Vancouver broker has tapped into the growing number of baby boomers willing to sell their houses and take out high-ratio mortgages on retirement homes in order to limit exposure to the volatile property market.
Growing number of brokers reach for 'last ditch' lending
Lendwise – what some brokers call the lender of last resort – is reporting 70-per-cent year-over-year growth in funded volumes for May, as brokers respond to increasingly fierce competition from the banks on rate, rate and more rate.