The industry is applauding Stephen Harper’s pledge to collect foreign ownership figures for Canadian real estate – and brokers argue that data should lead to restrictions
Brokers have long argued the barrier to entry for the industry is too low, and the Home Trust suspension of 45 brokers is further proof that a more stringent licensing process is required.
Tightened guidelines may be encouraging some mortgage professionals to take shortcuts, but that is no excuse say industry players reacting to Home Capital's move to suspend ties with several brokers
Exit plans for alternative clients are becoming increasingly important, as bundled mortgages become more prevalent
It may be a small victory for brokers, but CMHC’s latest rule change is a welcome decision in an era of seemingly endless mortgage rule tightening.
The current economic climate is expected to draw a number of one type of client, but it isn’t the kind brokers will cash in on.
They make great referral partners; still, brokers feel this one type of lender is shutting them out of the origination process.
Be careful what you wish for – brokers hankering for standardized mortgage penalties could be undercutting one clear advantage they have over the banks.
Stingy – that’s how brokers may characterize the 10 bps drop by banks yesterday, and leaving the door open to monolines.
With CAAMP set to re-evaluate its future – and the role the next leader will take – industry players believe there are certain things the association should focus on, including providing more support specifically to brokers.