Do I hear 2.94 per cent?

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Radius Financial formally introduced its RateWise Mortgage Monday, pointing to both its 2.94 per cent on a five-year term and its more restrictive prepayment allowances.

"This mortgage product is specifically designed for homebuyers who want greater savings while keeping some flexibility in their mortgage," says Suzanna Stefanec, VP of national sales for Radius. "Radius recognizes a large segment of the population that does not take advantage of mortgage privileges. This product rewards these consumers with a lower rate while ensuring their mortgage still has certain privileges."

The Pacific Mortgage Group lender points to a recent CAAMP survey to back up the assertion. It suggests 81 per cent of borrowers do not take advantage of their lump sum privileges and 77 per cent don't utilize increased payment privileges.

The RateWise product offers 10/10 prepayment privileges. although five-year terms at 2.94% are portable mortgages. The product comes as something of a boon for brokers as well.

"The Radius Financial RateWise mortgage gives brokers a competitive advantage when servicing clients," says Stefanec. "This product offers brokers the ability to service different markets and compete on rate while still rewarding customers with mortgage privileges, this is a true value add to the Radius product line up."

Radius is actively trying to grow and expand its product offerings and mortgage features as a way of growing its book and its reach outside of the Mortgage Architect group. Stefanec bills the low-rate mortgage as that "next step in providing valuable tools to our broker partners."


  • John on 2012-10-23 4:38:21 AM

    I have used Radius Financial Few times and I do love their Service!

  • Broker from Alberta on 2012-10-23 4:55:13 AM

    I do use Radius as well. Their BDO Shane Lapointe is a class act and love their service. As a Broker we ned to support lenders like Radius and ensure that they get stronger!

  • Mortgage Gal on 2012-10-23 5:11:02 AM

    The rate is great - the customer serrvice and turnaround time at Radius is not. They should consintrate on that in stead of lining their corporate and Mortgage Architect pockets

  • Mortgage Gal on 2012-10-23 5:14:31 AM

    well I am glad that you were treated with respect John

  • Derek Rowley on 2012-10-23 5:37:54 AM

    Good afternoon everyone

    I was biting my tongue but I have to say it. Regardless whether it be Radius, MCAP, RMG or whoever, too many of our broker agents cannot see the trees for the forest. Whenever a lender comes out withg a product to please us, we are too quick to go negative and too slow to say thank you.

    If anyone thinks they can do better at running these lenders who try their best to help us then step up and take the wheel. If not and you are still unhappy then go flip burgers somewhere.

    Remember the old saying, "make sure your brain is in gear before your mnouth goes into action".

    To the lenders who support the broker channel, you are much appreciuated and keep up the awesomework.

    Regards toi all

    Derek Rowley

    PS: I don't hide behind a ficticious name.

  • Suzanna Stefanec, Radius Financial National VP Sal on 2012-10-23 9:43:59 AM

    Dear Mortgage Gal, I am sorry to hear your experience with Radius was not to your satisfaction. We pride ourselves in providing high service levels from senior management, underwriters and regional rvps, to all our broker partners and are always looking for ways to improve. I would welcome an opportunity to speak with you to ensure your next Radius experience, is an enjoyable one. Please feel free to contact me directly at or via my cell: 647-291-5121. Thank you & I look forward to hearing from you. Best Regards, Suzanna Stefanec

  • Tania on 2012-10-23 9:55:18 AM

    I have not had to opportunity to use Radius' services yet for my clients but I have dealt with Shane Lapointe before. He is awesome to deal with, so much so that I would not hesitate to send Radius business now that he works for them.

    If you are not receiving great service from your lender of choice, please make sure you let the appropriate people know so THAT it can be rectified. I had the same poor service issues with Street Capital when they first started and I made sure to voice my they are terrific to deal with. We all contribute to make everything better.

    We definitely need the monoline lenders in order to stay in business, because it is clear, the banks want us out.

    Keep being the great mortgage brokers that you are and demand the top notch customer service that you and your clients deserve and all will be good.

    To our continued support!

  • Derek Rowley, RMA on 2012-10-23 2:03:19 PM

    To Suzanna Stefenac and Tania

    Kudo to both of you for your positive words and encouragement. More of this is needed.

    kindest regrds

    Derek Rowley, RMA

  • John Steven on 2012-10-23 2:15:39 PM

    “Mortgage Gal”, you represent what is totally wrong with this industry and human kind! Hiding behind a fictitious name, if you are real and honest, why don’t you use your real name? Our industry is losing Lender after lender and instead of supporting these few remaining mono-lenders, you are slamming them under a fake name? Shame on you!

  • Joe the broker on 2012-10-24 7:51:32 AM

    Big deal...ive had 2.94% for over a month now at 90bps commish...with full 20/20 privileges.

  • Mortgage Gal on 2012-10-25 3:09:07 AM

    This is my opinion. I do not need your feed back but do hope it makes you all feel better - Joe the Banker is right it really is no big deal

  • Jaime Hardy on 2012-10-30 8:24:35 AM

    Choose your lender partners, work with whom makes you AND your clients do not have to love all the lenders but you do not have to bash the lenders you choose not to work with. I find with most of my clients that when you do your job...rate is not the most important thing to many clients...I rarely lose a client over rate...again, choose your partners, work with your partners and know your clients!! I've never done a deal with Radius but do know Shane and I'm sure if you had problems and called Shane, he would be quick to assist you in correcting the problems...I generally do not post on here but felt that I should at this time as "Mortgage Gal" is taking some heat and as I fly my flag as "The Mortgage Gal"...I do not want nor need any bridges burned on my behalf.



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