Verico news

  • Banks push cashbacks

    Brokers are feeling one last push by the banks to sell cashback mortgages before OSFI kicks it off their product lists.

  • 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.

  • New agents to brokers: We have a bone to pick with you

    Brokerages have largely failed to give young agents the structure, training and mentorship they need to make business for themselves – that criticism from none other than the newcomers themselves, according to research.

  • Broker channel consolidation underway

    Broker channel consolidation is again in play, with B2B Trust announcing it has signed an agreement to acquire Verico lending partner AGF Trust for a cash amount equivalent to its $242-million book.

  • 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.

  • Being more competitive

    The mortgage origination market is only going to become more competitive, says Top 50 Broker and Mortgage Summit panelist Calum Ross, and brokers who don't invest in themselves in order to differentiate their business might not be around for long.

  • BMO's 2.99 gamble pays off

    It’s a gamble that may well have paid off, with BMO’s 2.99 per cent five-year fixed helping grow its mortgage book by $1.2 billion in the second quarter, according to the big bank’s latest financials.

  • 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.

  • Top 5 mono-line challenges

    CMP canvassed brokers from across the country on what exactly mono-lines need to do to keep more of the broker business now going to the banks. Here’s the Top Five ways brokers are challenged by mono-lines