Product News - November 2012
A bite-sized guide to the industry`s newst products as they come down the channel.
BFS deals swamp brokers
The silver lining to tighter mortgage rules appears to be a spike in Alt A and BFS clients rejected by the banks.
Lenders divvy up FirstLine’s spoils, suggest report
The results are in, and as expected, big lenders, with the conspicuous exception of TD, have successfully divvied up FirstLine’s spoils
Equitable Trust sees originations spike
Equitable Trust experienced an originations rush in the second quarter, with new single-family mortgages up 65 per cent over the same period last year.
Home Trust: Let the good times roll
The good times continue to roll for alternative lenders, with Home Trust reporting $1.67 billion in originations for the second quarter as tighter rules for A-lenders kicked in.
A-lenders playing BFS by the letter
A-lenders are already observing the strictest letter of the law on BFS applications, argue brokers largely dependent on those deals and now forced to shift as much as half of them to alternative lenders.
Reaching new heights
It’s a message that reverberated from one end of The Mortgage Summit to the other, with speaker after speaker calling on brokers to choose sides – are you focused on service or rates?
Big brokerage makes private lending debut
One of the country’s largest brokerages is getting into the private lending game, just ahead of an expected bulge in business for that segment of this turbulent market.
The ties that bind
One of the keys to putting together a successful mortgage deal rests with the ability to build strong relationships with lenders. CMP spoke to this year’s group of finalists for the Canadian Mortgage Awards’ Best Lender BDM to gain some insight into this crucial partnership
The Big Story: At The Mortgage Summit
More than 500 of the industry's best attended the two-day Mortgage Summit in Toronto, which was focused on giving brokers the tools, the insights and the knowledge they need in this dynamic market. That was the collective message of more than 40 speakers on two stages. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.