One year later: Marking Flaherty’s mortgage rule changes
Happy anniversary? It’s been a year since the mortgage rule changes took effect, and brokers have felt the impact not only on their business, but especially their clients.
Calgary leads way in housing outlook: study
Calgary deserves some good news – and the latest Genworth Canada report on resale housing is just what the doctor ordered.
Genworth cuts only in the U.S.
U.S. mortgage insurer Genworth Financial announced they are cutting 400 jobs to reduce costs by up to $90 million a year - but those cuts will not be felt north of the border.
CMHC declines raise underwriting questions
CMHC’s balance sheet is now revealing the full impact of Jim Flaherty’s tinkering, although brokers want to know if the scale of that decline also reflects more rigid underwriting.
Canada Guaranty to offer energy-efficient rebate
Canada Guaranty may just have removed another reason for lenders and brokers to send deals to its competitors, with the introduction of a rebate for energy-efficient homes.
CMHC report shows loss of bulk insurance business
CMHC’s bulk insurance fund stood at a virtual standstill last year as the government clawed back on lender access to that portfolio insurance, making it harder for brokers to secure financing for clients.
Credit Suisse scandal reinforces lending reticence
A guilty plea entered by a former Credit Suisse Group AG trader relating to the alleged inflation of U.S. subprime mortgage bond prices only reinforces reluctance among Canadian lenders, and that is unwarranted, says one broker.
Internet use building monoline support, say brokers
Client trust in the Internet has grown, a phenomenon making it increasingly easy for brokers to sell monolines and not just their branch-heavy brethren.
B20 to promote ‘uninsured’ securities market, says broker
One broker believes the new B20 guidelines should allow lenders to create a residential mortgage-backed security market entirely focused on uninsured loans.
Brokers disagree with experts on CMHC privatization
As Jim Flaherty continues to make waves in the broker channel, limiting the use of portfolio insurance by mortgage lenders in the 2013 budget, the question of privatizing the CMHC has once again been raised as a means of levelling the lending playing field for mortgage insurance.