Verico news

  • Brokers are choosing prime time

    Surprising poll results show brokers are still able to satisfy the majority of stated-income clients at prime lenders, despite tighter mortgage and underwriting regulations introduced last July.

  • Big lenders will follow BMO bandwagon

    BMO’s posted 5-year-fixed rate of 2.99 is nothing new, says True North’s CEO Dan Eisner; still other major lenders will be quick to follow suit despite warnings from federal finance minister Jim Flaherty of a potential rate war.

  • Big banks are abusing their power

    One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following BMO’s announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust.

  • Brokers support CMHC foreclosure policy

    CMHC’s request Realtors refrain from labeling properties as "in foreclosure" on MLS was, in fact, designed to protect the market from the kind of collapse the U.S. is still recovering from, suggest brokers supportive of the policy.

  • Lender aims to take the pain out of penalties

    It is a familiar story – a client looking to refinance, but facing a prohibitively high penalty. Still, Bruce Schoenne of PayLessPenalty.com has a solution, one some brokers may say sounds too good to be true.

  • It's the best and worst of times for brokers

    It may be a challenging time for brokers, but it's also a good one, say players pointing to lenders dropping rates and networks sweetening the deal for their members.

  • 10-year fixed increasingly easy and lucrative sell for brokers

    Scotia has joined other lenders in presenting a special offer on 10-year fixed mortgages, widening the smiles on brokers now facing a surge in clients interested in longer terms as a hedge against the eventual spike in rates.

  • Brokers accept olive branch from First National

    If you offer it, they will come. Eventually.

  • First Nat. returns to 80 bps finder’s fee

    First National’s 2013 compensation program finally spells out its decision to permanently reverse that 5-basis-point chop to finder’s fees introduced last year and alienating some brokers.

  • Demise of the buyers’ bonus a boon to brokers

    B.C.'s new home credit for first-time buyers expires on March 31 – and that's great news for brokers tired of seeing many clients lured to a developer's lender.