FirstLine raises First National originations
First National saw originations skyrocket in the second quarter, rising 48 per cent from the year-ago period – something it chalks up to FirstLine`s departure.
Answering the call
In an ever-increasingly complex industry, broker Nera Emmanuel has built her business upon simple things such as returning phone calls and staying in touch with clients
Banks keeps clear of rate wars
Banks are avoiding what appears to be a looming rate war by sticking to five-year fixed rates at or around 3.09 per cent even as other lenders race toward 2.84 per cent.
Bank dissatisfaction benefits brokers
It’s one bit of news brokers are likely to capitalize on, with a new study suggesting customer satisfaction with the Big Five – from their mortgages to their rising fees to their brands – is on the decline.
Brokers laud MCAP’s hands-off approach to RMG
Brokers are applauding what appears to be MCAP’s decision to put its money where its mouth is – the lender adopting a largely hands-off approach to RMG’s product lineup and features that deviate from its own.
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.