Broker channel banks’ mortgage results revealed

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We already know how the others did, but now it’s time to see how your bank partners faired last quarter.

National Bank
Mortgage business is credited with helping boost its overall personal lending portfolio.

“Rising 6% from a year ago, personal lending experienced sustained growth, with the most significant increases coming from mortgage loans, and commercial lending grew 8% from a year ago,” the bank said in its Q1 report.

Residential mortgages accounted for $44.4 billion at January 31,2016 – up from $40,011 at January 31, 2015.

“Rising 2%, residential mortgages also grew since October 31, 2015,” the bank said.

Scotia Bank
Scotia reported a total of $190 billion in total residential mortgages as of January 31, 2016.
 
“A large portion of the Bank’s lending portfolio is comprised of residential mortgages and consumer loans, which are well diversified by borrower,” the bank said in its quarterly report. “As at January 31, 2016, these loans amounted to $314 billion or 64% of the Bank’s total loans and acceptances outstanding (October 31, 2015 – $309 billion or 65%).

“Of these, $237 billion or 75% are real estate secured loans (October 31, 2015 – $236 billion or 76%).”

The bank said most of its mortgage portfolio growth was driven by products originated outside Canada. 

“Residential mortgages increased $1 billion, mainly in Latin America as underlying growth in Canadian residential mortgages was largely offset by the planned run-off of Tangerine’s broker-originated and white label mortgage portfolio,” the bank said.


TD Bank
TD loans increased $23 billion due, in part, to growth in its residential mortgage portfolio.

Its total mortgage portfolio was $186 billion at January 31.
  • Broker on 2016-03-09 10:17:21 AM

    With National Bank paying realtors 50 bps on mortgages, not surprised that they increased the volume. I will be sending my business to lenders that support brokers.

  • Another Broker on 2016-03-09 2:26:50 PM

    With Manulife coming on board this year with Manulife One for brokers I won't be surprised if National Bank exit the broker channel altogether. The only useful thing they've got is the AIO and prime HELOC for certain professions like doctors and engineers and that can be matched by other banks. Apart from those two products their broker rates are nowhere nearly as competitive as the other banks. No wonder their market share in the channel has been stagnant for some time. They're not even in the D+H top 10 which is rather bizarre for a big bank that's competing for business with the likes of Scotia and TD.

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