Dominion Lending Centres news

  • 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.