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.
MCAP extends helping hand to Habitat for Humanity
MCAP is aiming to extend the reach of one of the broker channel’s favourite charities, through both its broker-partners and their shared clients.
Alberta broker raises alarm about conservative appraisals
A seasoned Alberta broker is pointing to increasingly “low valuations” since new mortgage rules were ushered in, concerned appraisers for default insurers have gotten ahead of themselves and any future correction in the housing market.
Sign of the times: Brokers seeing demand for job-loss insurance
It’s the kind of validation brokers may be happy to do without. But one insurance provider is backing up their observations about more cautious clients, pointing to consistent broker demand for job-loss insurance even as the economy moves further out of recession.
Axiom names VP for Ontario
Axiom Mortgage Partners has appointed Tony Roberts as the vice-president of Ontario and Eastern Canada.