Another big bank has joined the ranks of lenders offering a sub-three per cent five-year fixed rate; signalling the growing importance of alternative lending to the mortgage broker industry, according to one player.
Brace yourselves: Our panel of broker network heads is anticipating a "whack of agents" will leave the business this year. That may not be a bad thing.
B2B Bank announced Thursday it has expanded its product offering to include two new alternative lending programs designed for clients who do not fit into traditional income profiles.
In the first part of CMP's Broker Roundtable series, our network heads discuss a hot button issue: Brokerage consolidation.
Albert Collu's profile for Mortgage Broker News Hot list 2014
Brokers prepared to dismiss B and C lending may be handicapped in 2014, with one major network head suggesting those brokers who embrace alternative lending will find themselves at the head of the pack.
A major mortgage broker network unveiled its new website, which focuses on consumer education.
One broker is hoping that the larger networks forming in the channel will speak loudly and carry a bigger stick – especially to level the playing field against the five big banks.
Stay tuned, brokers, says Pacific Mortgage Group CEO Ron Swift on the heels of the Argentum acquisition, network consolidation will undoubtedly continue as companies struggle to achieve scale.
MortgageBrokerNews.ca has just learned that Mortgage Architects has acquired Argentum Mortgage and Finance.