MCAP news

  • ING moves against pooling abuses

    ING Direct's move Tuesday to introduce a pooling cap meant to increase efficiency is already drawing positive reviews from brokers favouring those restrictions to commission cuts.

  • Rate transcends network lines

    An increasing number of brokers seem prepared to cross “network lines” to get to new lenders, with agents outside the Pacific Mortgage Group expressing interest in Radius’s 2.94 per cent offer.

  • 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

  • ING success validates broker model

    Brokers shouldn't despair over the potential loss of ING, but view its success as proof more upstart lenders will enter the channel to replace it, says one leading player.

  • FirstLine raises First National originations

    First National saw originations skyrocket in the second quarter, rising 48 per cent from the year-ago period – something it chalks up to FirstLine`s departure.

  • Brokers laud MCAP’s hands-off approach to RMG

    Brokers are applauding what appears to be MCAP’s decision to put its money where its mouth is – the lender adopting a largely hands-off approach to RMG’s product lineup and features that deviate from its own.

  • Cashbacks here to stay?

    Broker desperately clinging to cashback mortgage may not have to give them up after all with, provincial regulated monolines suggesting they'll continue to offer the product even as OSFI forces the banks it regulates to ditch it.

  • Lenders to divide up FirstLine spoils, says veteran

    Lenders have already begun to court brokers with well-established ties to FirstLine, but it’s unlikely any one of them will win most of that business, says a respected veteran, arguing four big players will initially divide the spoils.

  • Canada's best mortgage professionals honoured

    Westerners challenged Ontario dominance at the 2012 Canadian Mortgage Awards Friday, the industry celebrating that excellence in Roarin’ 20s style at Toronto’s historic Carlu.

  • ResMor transfer set for May

    The official hand-over of ResMor’s residential mortgage division to MCAP has been pushed back to May 1, MortgageBrokerNews.ca has learned.