Dominion Lending Centres news

  • 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.

  • Going exclusive

    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.