Brokers preparing to-do lists for FSCO
This week’s appointment of parliamentary assistant Steven Del Duca to oversee a five-year review of Ontario’s Mortgage Brokers Act has already spawned a slew of broker wish lists for what could and should be tweaked to better the industry.
Renewal time for brokers?
Counsel Corporation has seen its stock price double in less than a year – success that could be worth some attention by mortgage brokers, who are more focused on new volume than renewals.
RBC now raises special fixed rate
RBC is one again leading the push to higher fixed rates, taking its “special” 5 year rate to a hefty 3.69 per cent, effective Wednesday.
Marijuana man losing mortgage a good lesson for clients, say brokers
A licensed medical marijuana grower who had his mortgage pulled by Scotiabank is a good lesson for clients who do unauthorized renovations, say brokers.
Big banks increase special discounted rates
Interest rates continue to go up – and this time, it is Scotiabank and RBC following TD Canada Trust by announcing increases to special discounted rates.
MCC sale a sign small brokerages being squeezed out?
One broker is asking whether or not smaller broker networks and brokerages will be challenged to compete against the clout of increasingly big players like DLC, now the proud owner of MCC.
ING takeover boosts Scotia’s earnings
Scotia’s acquisition of ING Direct may have been a blow to the broker channel, but it gave a much-needed boost to the big bank’s second-quarter net income earnings.
Eisman upbeat on U.S., down on Canadian housing
The man who earned his street cred by betting against subprime mortgages in the U.S., said he is pessimistic about the Canadian housing market where rising prices haven’t been accompanied by personal income growth.
Strength in the face of adversity
MortgageBrokerNews is continuing its series of features on the finalists for Broker of the Year in both categories -- the under 25 employees and the 25 and over. This year’s group is the most diverse, spanning the country. Winners in both categories will be named at the upcoming Canadian Mortgage Awards on May 10 at the Liberty Grand in Toronto.
Big bank increases ‘appetite’ for credit cards
As Scotia Bank’s CEO Richard Waugh was telling finance minister Jim Flaherty to mind his own business over mortgages, he also broadly hinted his bank was prepared to expand its unsecured lending – a move one broker sees as counterproductive.