Cashbacks here to stay?
Broker desperately clinging to cashback mortgage may not have to give them up after all with, provincial regulated monolines suggesting they'll continue to offer the product even as OSFI forces the banks it regulates to ditch it.
Veteran: Most brokers will accept CIBC offer
Mortgage brokers are now voicing relatively favourable critiques of CIBC’s offer to buy their FirstLine BasisPOINTS, with at least one veteran going so far as to call it “a pretty good deal.”
Murphy: Ontario could lose 1,830 brokers at re-licensing
Forget eight per cent.
CAAMP President Jim Murphy is suggesting Ontario could lose as much as 15 per cent of its brokers and agents with new re-licensing requirements, effectively erasing gains made since the last major cull.
Brokers lose 'easy money' with TD commission change
It may be the end of a very lucrative era for brokers using TD. But for one high-volume broker, in particular, it’s the loss of a $400,000 shot in the arm, with the bank finally moving to bring its generous mortgage replacement policy in line with other lenders.
Rate hikes spur rate holds
Brokers are starting to see an uptick in the number of clients looking for rate holds after several lenders pushed select VRMs further into plus-prime territory, a broker channel player among them.
Brokers worry about lost year
Brokers worried about the challenging environment and double-digit revenue slips, you’re not alone. A leading industry trainer is identifying a very real and growing anxiety among mortgage professionals from one end of the country to the next – afraid the economy will further compromise their bottom lines.
And the survey says...
Rising home prices in the third quarter likely disguised a slowing market for real estate agents and mortgage brokers, alike, suggests a new survey from Royal LePage.
Brokers: Time for Mono-line consumer advertising
Mono-lines are facing renewed calls to increase consumer advertising, a way of helping mortgage brokers sell to often skeptical clients – inclined to dismiss all non-banks as B lenders.
Agent: Re-licensing could cull broker numbers by 10%
Re-licensing requirements for Ontario could instantly decrease the number of mortgage professionals by as much as 10 per cent said a new agent, although the loss of young entrants discouraged by the slow economy and tight market may be a good thing.
Top Broker: BDMs must evolve into 'educators'
The head of CMP’s “Mortgage Brokerage of the Year” is urging BDMs to embrace an expanded role as educators, a way of increasing their utility to mortgage professionals, looking to grow their own usefulness to clients.