Former Wells Fargo BDO creates mortgage finding tool
Tony Roberts, a former Wells Fargo BDO, launched a new product search engine tool for brokers in January called Adunatio.
Former Home Trust president to head up new mortgage lending operation
Financial services firm Grey Horse announced it has hired Nick Kyprianou to lead a new alternative residential mortgage lending operation through its subsidiary, Equity Transfer and Trust Company (ETT).
Islamic financing in Canada legal, but still poses hurdles
Shariah-compliant mortgages and other types of Islamic financing would be legal in Canada, but the CMHC has no plans to insure them or change any legislation or administrative practices to accommodate them, concluded a report.
Rumours swirl over Abode purchase
Following the recent news that Abode Mortgage Corporation is in negotiations with a purchaser and will re-enter the mortgage market, rumours have been circulating about who that purchaser (or purchasers) might be.
Abode coming back, finders' fees top priority
With many rumours circulating regarding the future of Abode Mortgage Corporation, the prime lender that shut down its mortgage business back in Nov. 2009, CMP was able to speak frankly with David Nelson, CEO and Chairman of the Board, to attempt to clarify a few of them.
Vancity plans to reach out to more mortgage brokers
The director of mobile sales and brokerage at Canada's largest credit union, Vancity, says the company hopes to build its network of mortgage brokers in 2010 and has plans to introduce a loyalty program in the next three to six months.
Bank of Canada takes stance on housing bubble
A Bank of Canada official called talks of a Canadian housing bubble premature in a speech in Edmonton Monday, adding higher interest rates are not the solution to cooling the current surge in housing demand and prices.
Only one week left to nominate!
Only one week remains to submit nominations for the 2010 CMP Canadian Mortgage Awards, taking place April 23 in Toronto.
AIG United Guaranty set to come under Canadian ownership
The private investment department of the Ontario Teachers' Pension Plan announced today it has entered an agreement to buy AIG's Canadian mortgage insurance business.
Broker sees alternative to Flaherty's suggested mortgage lending restrictions
Lenders should start qualifying borrowers at posted rates to minimize risk of a housing bubble, said Mortgage Alliance broker Mark Herman in response to Finance Minister Jim Flaherty's recent suggestion of upping minimum down payments and decreasing amortization periods.