Scotia news

  • 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.

  • Brokers applaud tough-talking Scotia CEO

    Scotia’s CEO Richard Waugh is receiving a rare show of support from the broker channel, after stating finance minister Jim Flaherty should stop interfering on mortgage rates.

  • Sale of Xceed ‘positive for brokers,’ says CEO

    Concerns among brokers that Xceed will go the way of ING and FirstLine following MCAN’s announced takeover can be put to rest, says CEO Michael Jones.

  • ING transition to Scotia almost complete

    With the transition of ING employees to Scotia, many have found employment elsewhere in the industry, despite a goal for 100 per cent placement within the major lender, says the former head of broker sales with ING, Kim Luxton.

  • Search for the best rate stressful, poll reveals

    An ING survey suggests 59 per cent of Canadians find negotiating for the best rate the most stressful part of obtaining a mortgage – ironically, results that provide support for the mortgage brokers ING has now left behind.

  • Bleak 2013, better 2014 predicted for resales

    CREA’s resale housing forecast is rather bleak for 2013 – but promises great things for 2014.