Brokers: Lenders, cut us some slack
A seasoned broker is encouraging channel lenders to relax their minimum volume requirements in the short-term, a way of helping an industry struggling to maintain originations even as the Canadian market cools.
Ad increase bolsters network's book
A national broker network is crediting a 20 per cent jump in its advertising budget for a double-digit spike in business – even as new home sales slip.
Mortgage professionals say they’ve had enough of clients going to the bank, with broker commitment letters in hand. As Vernon Clement Jones finds out, a growing number are thinking exclusivity agreements will stop them in their tracks
'Escalating lender incentives' for Realtors troubling, say brokers
The apparent escalation of lender incentives for Realtors is raising broker concerns around disclosure and the potential dangers for clients.
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.
Broker: Never, ever buy down rate
He’s increasingly an anomaly, but a veteran broker who has never bought down rate is admonishing the growing number of mortgage professionals now relying on that retention strategy, suggesting it only delays the inevitable.
Broker channel lenders balk at hotel-condos
An agent looking to use Toronto’s growing condo-hotel market to carve out a niche for himself is finding a dearth of channel lenders willing to write mortgages on those suites, which spend most of their time in a rental pool.
MAC's Right Mortgage moves to Paradigm Quest
Mortgage Alliance has officially found a new home for its industry-leading Right Mortgage, giving Paradigm Quest – and “multiple lenders” under its umbrella – the nod.
Brokers benefit from more generous rental offsets in the GTA
An increasingly tight but competitive Toronto market has lenders migrating back to the 80-per-cent rental offset, say brokers focused on property investors and now finding it easier to get their deals funded.