DLC nixes sponsorship of O'Leary at CAAMP
Dominion Lending Centres has jettisoned plans to sponsor Kevin O’Leary’s appearance at CAAMP’s upcoming Mortgage Forum, its president citing the Dragon’s new mortgage business and the direct competition posed to brokers.
Don Cherry, Dominion Lending hit the ice for kids' charity
Don Cherry is lending his star power to a brokerage's youth hockey game fundraiser today, an event aimed at raising money for a school meals.
Borrowers not interested in bumping up line of credit
Initial interest on credit unions offering HELOCs with a higher LTV than what OSFI mandates appear to have died down as some brokers report that borrowers appear satisfied with current mortgage rates offered by banks and other lenders.
ING moves against pooling abuses
ING Direct's move Tuesday to introduce a pooling cap meant to increase efficiency is already drawing positive reviews from brokers favouring those restrictions to commission cuts.
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.