Dominion Lending Centres news

  • Hot markets compensate for tougher refi rules

    Exceptionally strong value gains across much of the country helped limit the Ouch! factor for many brokers grappling with CMHC rule changes on refis, with the Crown corporation suggesting that segment of its book has begun to bounce back.

  • Top 50 brokers turn teachers at the Mortgage Summit

    Niche brokering. It’s a lesson many mortgage professionals are anxious to learn and now there are five of the CMP Top 50 willing to teach it at this month’s Mortgage Summit.

  • Lenders access mortgage histories on credit reports

    A computer glitch has provided some brokers with a glimpse of credit reports that include mortgage payment histories – information many banks, they learned, already get.

  • Monetary rewards for client referrals raise debate

    The debate may have past on whether to reward clients sending business a broker’s way, but the question of when to send often hefty gift cards -- and whether to disclose them – is very much alive.

  • Exit Strategy

    What’s going to happen when you want to retire? John Tenpenny explains that planning for the future of your broker business means putting a succession plan into place and making sure your future is bright hinges on implementing that plan early enough

  • Broker: Time to talk advance fees

    A leading Ontario veteran is calling on the provincial regulator to level a very lopsided playing field by allowing brokers to charge upfront fees on deals falling short of the current $300,000 threshold.

  • The Big Story: Fixed-rate mortgage shift

    It wasn’t too long ago that the prevailing wisdom held that variable-rate mortgages were the way to go. Now, a recent poll reveals that fully half of all Canadians said they would choose a fixed rate mortgage if they had to decide today, a 10 per cent increase from a year ago. That’s a huge shift from the past five years, when people saved money by sticking with variable rates. Brokers can certainly attest to this trend, and say they are seeing clients choose longer term mortgages with rates at historic lows. They are also recommending that clients go with as long a term as possible, event 10-years, as rates haven’t been this low in 20 years. This week we spoke with Catherine Evel, mortgage broker/owner and mortgage agents Kelly Sams and Julia Parkin at Dominion Lending Centres-Homestead Financial. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: HELOCs

    The right product for the right client. This is especially true for HELOCs, which now account for almost 50 per cent of non-mortgage debt. Even as government moves to cool this market by withdrawing its backing, brokers are finding more lenders are offering them the product. Brokers caution however, that HELOCs need to be used wisely. They need to present the product properly and advise responsibly, so the best long-term interests of their clients are met. This week we spoke to, Ron Alltree, Kunaal Bhalla, Sarah Makhomet Deepak Bansal and Jonathan Tillger, of Dominion Lending Centres Mortgage Village. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • Bankers sick and tired of the rate wars

    Brokers exhausted by this latest battle in the rate wars will have time to nurse their wounds, with the big banks suggesting they’ve put down their weapons for now, if never really for good.

  • Finalists for Canadian Mortgage Awards broker/brokerage categories announced

    As the 2012 Canadian Mortgage Awards wind down on June 1, there may be some familiar names headed to the podium to accept the Broker, Brokerage and National Broker Network of the year awards.