Poll: Industry reacts to broker-owned bank
A poll asking brokers whether they’re more inclined to send a deal to a new “broker-owned bank” than an existing lender partner had a quarter of respondents answering “yes” even before receiving any details.
Bond yields spark another round of rate hikes
The five-year bond yield hit a four-year high Thursday, rising 4.18 per cent to 2.15 and signalling a coming interest rate hike, report brokers.
Female brokers build homes for needy
Habitat for Humanity’s “Women build” takes place over 11 days as 1,000 women -- including several from Verico Premier Mortgage Centre – do their part to build homes for the less fortunate.
CMP Brokers on Lenders teaser
Early results from CMP’s Brokers on Lenders survey prove that with the ever-tightening underwriting, brokers are having to rely more and more on Alt-A and B deals as fewer clients now qualify for prime.
Lender mergers: Good or bad?
Brokers are feeling uneasy with the number of mergers taking place in the industry recently, voicing concerns that a shrinking pool of lenders may nullify their competitive advantage.
Credit unions offer best rates
Credit unions are cashing in on the opportunity to snag business from other lenders in the wake of three big banks and one monoline announcing rate increases last week.
Heritage Financial acquires Verico Boomerang
In a statement released Monday, Heritage Financial Group Ltd. announced it has acquired a 50 per cent stake in Verico Boomerang Financial Inc., a Calgary-based mortgage brokerage firm.
Breaking barriers between brokers and lenders
Lenders too frequently favour a “black and white” approach to qualifying clients, complain a growing number of frustrated brokers.
Monoline changes its preapprovals
One leading monoline announced changes to its pre-approval rates last week.
Brokers on dealing with rate hikes
TD has now joined the increasing number of lenders pushing up fixed rates – a trend expected to see even seasoned brokers return to chasing down leads but also to deepening their value-add beyond basis points.