Market points to slowing preapproval conversions
Despite a cooling real estate market, the average home price in Canada reached a record high in July -- not exactly good news for brokers itching to convert preapprovals.
Part-timer defends the controversial practice
A seasoned broker – now a part-timer – is defending that choice, challenging mortgage professionals who argue the industry has no place for him and a growing number of others.
Brokers wary of TD consolidation
TD has moved to consolidate BDM services for its prime and alternative lending divisions – something brokers are worried could cost them future business.
Who gets the bill for broker ad campaign?
Merix head Boris Bozic has joined the growing number of mortgage professionals endorsing the idea of a national advertising campaign, specifically focused on hawking broker wares to the largely uninformed consumer. That’s even as others look to mono-lines themselves to foot the bill.
Fraud prevention back on broker agenda
A fraud-prevention expert – also a mortgage agent – is asking his peers to double check their file protection measures against a list of six essentials. It’s a way of guarding themselves, their clients and their industry against the kind of recent broker lapse grabbing headlines in Alberta.
Brokers: Time for Mono-line consumer advertising
Mono-lines are facing renewed calls to increase consumer advertising, a way of helping mortgage brokers sell to often skeptical clients – inclined to dismiss all non-banks as B lenders.
Mortgage professionals say they’ve had enough of clients going to the bank, with broker commitment letters in hand. As Vernon Clement Jones finds out, a growing number are thinking exclusivity agreements will stop them in their tracks
Broker proposes overhaul of AMP marketing
A seasoned mortgage broker may have hit upon a better way for CAAMP to market the AMP to Canadians, asking the association to transfer responsibility for promoting the designation to AMPs themselves and, more importantly, to pay them.
Sale-leaseback: Here, I come to save the deal!
It’s a solution many A clients struggling to come up with a down payment may have overlooked. It’s also one with the potential to expand broker revenue streams, said a DLC leasing specialist, pointing to the sale-leaseback transaction.
Overheated markets push brokers to trailer fees
As a hedge against a “very probable” correction in B.C. home prices, a leading broker is actively moving to trailer fees, a way of protecting income at renewal for high-ratio clients, who may ultimately find themselves under water.