CMHC to brokers: Ontario market ready to grow
All the hype about Alberta’s real estate market may soon be relegated to the past. A regional economist with CMHC is expressing new optimism that it’s really Canada’s most populous province poised for market growth, after a year of “orderly adjustment.”
Lenders using conferences to win face time
The opportunity to mix and mingle with brokers at industry conferences such as The Mortgage Summit is increasingly important for lenders opting to go it alone without BDMs.
Rate Your Realtor flops – how about Rate Your Broker?
CREA membership recently rejected a Rate Your Realtor proposal – a concept that would be unworkable and unfeasible if applied to the broker channel argue some brokers while others are ready to embrace it.
Brokers to Associations: Stop road rep 'broker' use
Mortgage professionals are putting their associations on notice, insisting they use their clout to stop road reps from calling themselves “brokers.”
Mortgage broker course gets low marks
Mortgage broker education in Ontario has devolved to a series of subjects focused on developing administrative proficiency rather than beefing up brokering skills, according to a mortgage professional and instructor for the provincially mandated course.
Brokers anticipate Flaherty’s next move
What will the government’s next move be if the new mortgage rules don’t result in a market slowdown? Brokers are taking some well-educated guesses.
Trio of associations form partnership, talk designation
It’s an alliance seen as increasingly important for a challenged industry, with three provincial associations now formally banding together in partnership -- and with an eye to eventually creating a “professional designation.”
Govt to lower amortization, LTV on refis ... again
The reprieve Canadian brokers thought they had is no longer, with the government confirming it will now lower the maximum amortization on an insured mortgage to 25 years and cap refinances at 80 per cent of a home's value.
IMBA to offer members coverage for legal fees
The association representing mortgage brokers in Ontario is offering members insurance to cover legal expenses.
$25K penalty for broker raises concerns
Regulators are sending a caution to brokers prepared to fudge the truth for clients, fining one errant professional more than $30,000 for a lapse jeopardizing lenders, but also the industry’s reputation.