1 OSFI proposal likely DOA: insurer
The OSFI proposal limiting access to mortgages as Canadians march toward retirement is least likely to pass into “law,” the head of Genworth’s risk operations reassured brokers.
Brokers brace for new CMHC boss
Getting CMHC to approve deals may soon be tougher, with the introduction of a new bill handing ultimate control for government-backed mortgage insurance to an increasingly strict OSFI.
Scotia gives Canada Guaranty the nod
Canada Guaranty has added a big, fat red-and-white feather to its cap, announcing its suite of insurance products is now available through Scotiabank, both at the branch and through the broker channel.
First-time homebuyers will drive the housing market
Those Canadians who have recently purchased a home or are intending to buy one seem to have a good handle on their finances, according to national survey conducted by one of Canada’ private mortgage insurers.
Broker finalists named for Canadian Mortgage Awards
Ask any mortgage broker and they’ll say that they are proud to help people navigate the biggest purchase of their lives. They don’t do for the accolades, but sometimes it’s nice to be recognized for doing a good job.
Full steam ahead
With a shift in the stated income lending space, suddenly private lenders are looking forward to a very busy year, and brokers that utilize their services will now be able to help more potential clients
Canadian Mortgage Awards welcomes new sponsor
The Canadian Mortgage Awards announced that Radius Financial has signed on to be the exclusive sponsor of the Cocktail Reception at the sixth annual event, which honours the best of the best in the Canadian mortgage industry.
Lender offers lifeline to 'subprime orphans'
A new deal has bought time for some of Xceed’s subprime borrowers – clients who could well have been left in the cold had the lender refused to renew their high-ratio loans.
Broker: Time for channel to help subprime orphans
Broker channel associations and lenders must lobby government on behalf of homeowners effectively orphaned by fleeing subprime lenders and blocked from switching to A lenders because of the new refi rules, said a mortgage professional grappling to keep borrowers in their homes.
MAC 'Super App' expands lending options
Mortgage Alliance is making it easier for brokers to access lenders, with the launch of a new “Super App” module for its MortgageBOSS. The one-step program allows brokers to input application details, electronically canvass top broker lenders for “the best fit” and, with the push of a button, send it off to one of those lenders.