Brokers:New rules should drop approval times
The tougher mortgage rules may shut a significant number of borrowers out of the market, but mono-lines should turn that into an opportunity to speed up approval times, argue brokers.
Lenders to divide up FirstLine spoils, says veteran
Lenders have already begun to court brokers with well-established ties to FirstLine, but it’s unlikely any one of them will win most of that business, says a respected veteran, arguing four big players will initially divide the spoils.
Renaissance-ready Halifax wins new lender
Equitable Trust has now pushed into Nova Scotia, the alternative lender becoming one of the first to extend its reach coast to coast and just ahead of any boom expected from that $25 billion shipbuilding contract.
Mono-lines play David to banks' Goliath
It may be another case of David kicking Goliath’s butt, with mono-lines now taking back some of the business brokers were prepared to send to the banks, according to the latest quarterly report from D+H.
Brokers keep ties to FirstLine
Make no mistake, FirstLine has suffered a precipitous drop in broker market share, but it nonetheless remained in the top four lenders by funded volume in the last quarter – that despite news CIBC was preparing to sell and was actively fighting to convert clients.
On the fast track
Proving location isn’t the most important factor, Moncton-based Yves Boudreau has, in six short years, built one of the country’s most successful brokerages
Don't go west young man?
It’s a buzz killer for young agents looking to escape competitors in larger cities, but the idea of virgin territory anywhere in Canada no longer exists, says one seasoned player.
Broker: banks winning the rental wars
Some mono-lines may in fact be chasing rental business to the banks by attaching premiums to both the borrower’s interest rate and insurance costs, argues one broker focused on that end of the market.
New association helps win tighter regulations
Execs at the country’s newest mortgage broker association may want to take a bow, having helped sell another province on the need to “professionalize” its mortgage brokers.
Scotia gives Canada Guaranty the nod
Canada Guaranty has added a big, fat red-and-white feather to its cap, announcing its suite of insurance products is now available through Scotiabank, both at the branch and through the broker channel.