To be or not to BDM
As brokers grapple with a slowing market, many are finding relationships with BDMs are also in flux. As Vernon Clement Jones finds out, that may be by design
Broker: Time to give BDMs approval power
A leading Toronto broker is asking lenders to consider returning limited approval power to BDMs, at the same time making those front-line reps more accountable for their underwriting decisions.
Lender: Commission cut won’t protect broker channel
A lender is now weighing in on the debate about brokers lowering upfront commissions in order to protect lenders squeezed by tight margins, suggesting it would do little to protect the broker channel and keep other lenders from following Macquarie and Concentra.
TransUnion set to challenge Equifax on D+H Expert
TransUnion has finally made its push onto the D+H Expert platform and alongside rival Equifax, although brokers won’t be able to shoot off its credit reports to lenders until early next month.
Equity Financial Trust now accepting deals from brokers
Canada has a new entry in the mortgage lending field as Equity Financial Trust received final regulatory approval to become a deposit-taking institution and will immediately begin accepting applications for alternative residential mortgages.