The Big Story: Doable diversification
Diversification may be on the lips of every broker in Canada, but actually accomplishing it takes more than talk, reports Jemima Codrington. It takes action.
CAAMP course fees ignite broker reaction
CAAMP will reveal exact fees for its upcoming Ontario mortgage broker course next month, but some members outside the country’s largest market are calling on the association to equally subsidize all province-specific courses.
Brokers give banks more bang for their buck
Two brokers are articulating a very dollars-and-cents argument for why mortgage professionals continue to represent real cost savings for big banks – that despite Scotia’s take-it-leave-it approach to commission cuts.
Flaherty: No more room for rule changes
Brokers have heard it before, but the Finance minister is saying it again – this time with more conviction – arguing the government simply has no more room to play with the mortgage rules.
Brokers blame buydowns for Scotia chop
Buying down rates not only cheapens the value of a broker’s work, but could be directly responsible for any slash to broker compensation, according to one mortgage broker.
Breaking news: Scotia cuts compensation
Brokers feared this day would come, with Scotia introducing a 5 bps cut to compensation on all its five-year fixed and variable product effective Oct. 18 and following on the heels of First National’s move.
The Big Story: Association overhaul
More and more brokers are asking what their associations are doing to earn their dues. The answer, reports Jemima Codrington, depends on whom you ask.
Brokers: Keep Emili
Any move away from automated valuation – and toward appraisers – could hurt clients, say brokers, anticipating fallout from a media report suggesting CMHC’s system inflates home prices.
Brokers win unsecured credit card program
Brokers are gaining an extra revenue stream with an unsecured credit card program Dominion Lending Centres is ready to drop next month, according to the mortgage broker network.
Broker gets 3 years for fraud
The Fredericton Provincial Court has now sentenced a New Brunswick mortgage broker to three years in prison for mortgage fraud.