Verico news

  • 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.”

  • Brokers anticipate Flaherty’s next move

    What will the government’s next move be if the new mortgage rules don’t result in a market slowdown? Brokers are taking some well-educated guesses.

  • Brokers face tight-er deadlines

    Forget July 9. Brokers may have considerably fewer days to get their applications in ahead of the government's start date for new mortgage rules.

  • 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.

  • 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.