Scotia news

  • 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.

  • Industry vet: Fraudster's sentence hurts brokers

    Nova Scotia veteran Richard LeBlanc is upset that a convicted mortgage fraudster has been handed what he terms a slap on the wrist, a lenient sentence that threatens to tar all brokers with the same brush.

  • Brokers say “Thank you BMO”

    BMO’s 2.99 5-year-fixed rate announcement has got people talking and Googling, helping kick start the spring housing market for its competitors; namely, brokers.

  • MCAP feasts on FirstLine spoils

    New volume numbers suggest MCAP was the chief beneficiary of FirstLine’s shutdown.