Banks required to do more stress tests for debt
Canadian banks and insurers will be required to do more testing on the risks consumer debt places on their balance sheets, said the Office of the Superintendent of Financial Institutions (OSFI) on Monday December 20.
Ratesheet.ca, a mortgage rate auction website launches
The mortgage rate auction website, Ratesheet.ca launched on Sunday December 12 to provide a competitive bidding system for potential mortgage clients.
Banks won't impose own tighter mortgage rules: TD
Canadian banks are not likely to impose stricter mortgage qualifying rules on their own to curb the nation’s rising household debt, TD chief executive officer Ed Clark told The Globe and Mail.
Further tightening of mortgage rules not necessary say brokers
Finance Minister Jim Flaherty warned again on Monday the government could tighten mortgage rules further if needed, after a report showed the country's household debt levels have soared.
Australian government bans pre-payment penalties
Australian Treasurer announced changes to finance laws, banning unpopular mortgage fees and cracking down on price collusion between major banks in a bid to boost competition in the sector.
Canadian household debt ratio tops U.S.
Canadian households had a higher debt-to-income ratio than their U.S. counterparts for the first time in 12 years, and the government may consider tightening mortgage rules to make it harder for households to become overextended.
Report finds Americans losing faith in mortgage lenders
A recent poll showed that Americans continue to grapple with uncertainty about the housing market, with 58 per cent of U.S. adults expecting recovery to take at least another two years.
Merix to further enhance new broker portal in 2011
Most mortgage agents have likely noticed Merix Financial’s enhanced broker portal, Explore 2.0, for deal tracking that was launched on Thursday November 25. CMP had the chance to demo it in person, and speak with Merix about plans to further enhance the system in 2011.
CMHC president and CEO named Top 100 Powerful Women Award
The Canada Mortgage and Housing Corp. (CMHC) President and CEO Karen Kinsley was named a winner of the WXN Top 100 Canada’s Most Powerful Women Awards.
Simon Sinek to be keynote presenter at DLC conference
Motivational speaker Simon Sinek, author of Start With Why: How Great Leaders Inspire Everyone to Take Action, was announced as the keynote presenter for Dominion Lending Centres’ 2011 National Sales Conference in Las Vegas.