The Financial Services Commission of Ontario has named CAAMP as the sole provider of the mortgage broker education program in the province for the next four years, even as some brokers express the desire for multiple course providers.
Two brokers are articulating a very dollars-and-cents argument for why mortgage professionals continue to represent real cost savings for big banks – that despite Scotia’s take-it-leave-it approach to commission cuts.
Outshining a mortgage specialist can be as simple as offering a creative, ‘no-cost insurance plan,’ writes CMP Top 75 broker Dustan Woodhouse. Here’s one of his
Brokers are scratching their heads over comments from a Scotia exec suggesting they view the commission cut as “a growth opportunity."
Buying down rates not only cheapens the value of a broker’s work, but could be directly responsible for any slash to broker compensation, according to one mortgage broker.
Most brokers will opt to lump it rather than leave Scotia over its 5-basis point chop, argue some industry veterans, even as others call for a boycott.
Brokers feared this day would come, with Scotia introducing a 5 bps cut to compensation on all its five-year fixed and variable product effective Oct. 18 and following on the heels of First National’s move.
Brokers are worried that their FirstLine clients may be getting the run-around when they attempt to switch to any lender other than CIBC.
The Fredericton Provincial Court has now sentenced a New Brunswick mortgage broker to three years in prison for mortgage fraud.
I was just reading the latest issue of BrokerBiz m...