Verico news

  • Brokers beware: Home sales will get even slower this year, says forecast

    Year-over-year price increases in key Canadian markets are concealing a significant slowdown in actual sales, according to a national price survey released Thursday. Unfortunately, for brokers, that trend, already identified by CMHC, is expected to continue in the second half of the year.

  • Realtors: Despite it all, brokers still key referral partners

    Good news, brokers: You remain a primary referral partner for real estate agents even as the number of home sales slows across key Canadian markets. Bad news, brokers: More and more, the banks are determined to change that.

  • Brokers: banks now eating penalties to retain clients

    There’s competition and then there’s competition with the Big Five, as a handful of Vancouver brokers point to banks and, even, credit unions now willing to eat their own substantial penalties in order to keep clients from going over to the broker channel.

  • Social media drives originations

    Even as originations through Realtors and clients slow across much of the industry, brokers are actively developing leads and closing deals originating on Twitter, Facebook and other social media platforms.

  • Newbie Vancouver brokers go part-time as purchases slow

    The number of Vancouver brokers taking a second job outside the mortgage biz is on the upswing, say seasoned professionals, as the competition for a falling number of originations heats up and newbies find themselves without the established portfolios needed to grow referrals and refinances.

  • Broker: ‘Habitual refinancers’ facing forced listings

    There's strong indication new mortgage rules have begun to cull the number of “habitual refinancers” said one 20-year veteran of the broker industry, suggesting a spike in the number of forced listings should soon follow.

  • Brokers: Rate drops ignite client preference for fixed

    Brokers are finally seeing a change in consumer appetite for risk after the second chop to fixed rates in two weeks.

  • Northern brokers challenged by dearth of lenders

    A broker working Whitehorse and other Territorial hot spots is blaming a whopping 30-per cent drop in originations on the growing reluctance of channel lenders, the increasing dominance of the big banks and the population’s transient nature.

  • CAAMP survey: Broker market share stagnant

    A new CAAMP poll suggests that brokers are at best maintaining their share of Canada’s mortgage business and at worst…

  • Brokerage radio ad raises eyebrows in Ottawa

    A radio ad for a leading Ottawa brokerage is stirring leads but also controversy with its subtle jab at the competition – other brokerages included.