Coast Capital answers broker concerns about access
A lender increasingly considered Vancouver’s rate leader is addressing broker concerns around access – in a number of cases only being won through co-brokering.
Feds: Brokerage name breaches Bank Act
The owner of a successful brokerage known for fighting the Big Five will now change the firm’s name rather than face the possibility of a hefty fine or jail time over what the law suggests is a misappropriation of the word “bank.”
Brokerage head defends volume pooling as necessary retention tool
A veteran brokerage head is defending the controversial practice of pooling mortgage volumes as a key weapon for an industry fighting to retain promising but unseasoned talent.
Broker: Channel needs more one-year rate holds
A boom in construction permits for Ontario and Quebec is highlighting the need for greater access to one-year rate holds, says the head of a leading Montreal brokerage, arguing mortgage professionals are hamstrung in their efforts to capture a bigger share of condo sales during construction.
Rate wars sending brokers to the B-Side
Getting while the gettin’s good. An increasing number of brokers are deserting the rate wars, deciding to move over to the B side as a way of building a book less susceptible to the bullets of the banks and, indeed, other brokers.
Brokers re-thinking Internet lead-generation strategy
Brokers looking to generate leads from the Internet may ultimately find it easier and, indeed, cheaper to hand the job to one of a growing number of online referral agents, suggest brokers now winning as much as a 50-percent conversion rate. Still, even then, success largely depends on one thing: rate.
Ontario broker lobbies for tighter 'mortgage suitability' regs
The head of a large Ontario brokerage – and VP of the province’s mortgage broker association, IMBA – is lobbying for “better-defined” guidelines around “mortgage suitability” in the governing act, arguing it would help fend off competition from the banks.
Broker: 'Flying solo' agents eroding industry reputation
A Northern Ontario broker is sounding the alarm about what he calls the large number of mortgage agents flying solo in smaller markets, without the benefit of in-house broker guidance. It’s a trend that may chip away at the industry’s bragging rights.
Broker: Don't rule out more mortgage rule changes
A leading B.C. broker is suggesting it would fall to the government to again tighten mortgage rules in order to limit the number of at-risk Canadians taking on new housing debt, arguing the Central Bank’s hands are effectively tied.
Super Brokers angered by DLC defections
A rapidly-expanding Dominion Lending Centres is fending off criticism that too much of its growth is the result of brokerages migrating from competing networks.