Broker considers loyalty agreement to stop client hemorrhaging
One broker tired of doing all the work and watching the client jump ship to a big bank matching rate is reigniting the debate on exclusivity agreements.
AMBA & IMBA partnership aims to better market brokers
AMBA and IMBA have come together in a partnership to strengthen support and educational opportunities for their members – but also with the potential to better market mortgage brokers.
Brokers: Lenders, cut us some slack
A seasoned broker is encouraging channel lenders to relax their minimum volume requirements in the short-term, a way of helping an industry struggling to maintain originations even as the Canadian market cools.
Mortgage professionals say they’ve had enough of clients going to the bank, with broker commitment letters in hand. As Vernon Clement Jones finds out, a growing number are thinking exclusivity agreements will stop them in their tracks
Bozic weighs in on exclusivity agreements
A broker channel lender is endorsing the idea of client exclusivity agreements, arguing the time has come for an industry-wide discussion on those controversial but, perhaps, increasingly necessary contracts.
Broker frustration sparks debate on client exclusivity agreements
Exclusivity agreements: It’s a controversial idea, but one whose time may have come, with IMBA President Albert Collu kicking off an industry dialogue on contracts that would penalize clients for using brokers to get better rates at the banks.
Centum: Broker workshop to focus on consumer debt
Runaway consumer debt: It’s not just the federal government’s concern, but also the focus of a mortgage workshop for brokers – set for Vancouver this fall and focused on ensuring brokers extend their utility beyond the transaction, say sponsors.
Brokers overlooking small private lending deals, says industry veteran
They’re the kind of subprime deals many Ontario brokers have overlooked, said a 35-year veteran of the industry, but brokers willing to connect individual borrowers with individual private investors are positioning themselves for long-term revenue growth.
Gold-buying broker raises concerns
Some brokers fear it may tarnish the industry’s reputation. But a business advertising broker services – at the same it hawks “cash for gold” – is focused on customer service, said the jeweler/mortgage professionals behind it.
Collu: Volume minimums ‘taking brokering out of brokering’
Continued use of volume requirements may undercut efforts to grow efficiency ratios while threatening broker independence, said IMBA’s new president.