Rate hike expected to affect affordability in many markets
In its latest housing affordability report, the Royal Bank of Canada predicts interest rates will soon rise; putting housing affordability in many markets across the country in jeopardy. Should brokers expect an influx of business in the short-term?
Senator's alleged mortgage fraud offers cautionary note for brokers
Newly released court documents -- alleging a former senator committed mortgage fraud on a home he billed Senate expenses for -- serve as a cautionary tale for brokers.
Unlicensed broker charged with 18 offenses
Glenn Whitter is alleged by FSCO to have used online dating to borrow and lend on real estate properties without a license and faces nine counts of dealing in mortgages without a broker license, totalling 18 charges under Ontario's Mortgage Brokerages, Lenders and Administrators Act, 2006.
Another brokerage lands former bank bigwig
Mortgage Alliance isn't the only brokerage to land a huge catch from the big bank pond, with another major player now reporting its own coup courtesy of RBC.
Affordability gap continues to grow
The Royal Bank of Canada released its Housing Trends and Affordability report on Wednesday indicating slight deterioration of affordability across all Canadian regions; though not enough to create turmoil in the market.
Broker network strikes key 'alternative' deal
Mortgage Alliance announced Monday a partnership with Personal Lending Solutions (PLS) aimed at making alternative lending more accessible to brokers.
Saskatchewan brokers brace for potash fallout
Saskatchewan brokers are holding their breath on fears the province could see economic growth halved if potash prices sink in the wake of one producer’s move.
Broker hit with compliance order; FSCO warns RBC customers
The Superintendent of Financial Services for FSCO has issued interim compliance and suspension orders against Ralph Iacono and Mortgage Lenders Ltd., and in a separate notice is also warning clients of Royal Bank not to purchase any products from Sentel Insurance.
RBC under fire for missing coverage
A Harvey, N.B., man is asking Royal Bank – the same lender that refinanced his mortgage without a lawyer’s signoff – why his home burned to the ground without fire insurance.
RBC hike a sign; rate war is over: broker
RBC’s announced rate hike Friday is a signal the big bank is laying down its weapon of choice at least for the time being, say brokers.