The $1-million cut-off on Canada Mortgage and Housing Corporation insurance may have hit the luxury condo market, with a glut of inventory in Toronto suggesting it will take 20 months to clear given current demand.
One broker is hoping that the larger networks forming in the channel will speak loudly and carry a bigger stick – especially to level the playing field against the five big banks.
How do you sell a mortgage to a community of people who distrust banks and are unfamiliar with the concept of a mortgage? One Alberta broker has the answer.
One Winnipeg mortgage broker is fighting the rate wars not by cutting into commissions, but by ‘paying it forward’ in $5 and $10 increments.
One Top 75 broker worked “harder and smarter” during what was a tough year in the channel – and did so without resorting to rate sites.
Hamilton mortgage brokers have been enjoying a blockbuster June, as that city has led Ontario in new housing with an impressive 65 per cent rise in starts.
There is more talk of loyalty and exclusivity agreements in the channel – but most mortgage brokers refuse to handcuff clients with a piece of legal paper, and doubt it will become common practice.
There's one application platform that dominates the industry, but some brokers are asking lenders to do what they can to ensure more choice, starting with MorWEB.
Counsel Corporation has seen its stock price double in less than a year – success that could be worth some attention by mortgage brokers, who are more focused on new volume than renewals.
Dominion Lending Centres wants to make one thing perfectly clear: MCC employees will not be subject to the same fees as their DLC counterparts – including the ad fund.