MIC consolidation the answer to increased regulations?
One industry player expects Mortgage Investment Corporations to go the consolidation route in the face of increased regulatory oversight.
Veteran player establishes MIC
Former Equity Financial Trust CEO Nick Kyprianou announced Thursday the establishment of RiverRock Mortgage Investment Corporation.
Plan is set to have Equity Financial's CEO reinstated
Smoothwater Capital will participate in a special shareholders meeting for Equity Financial Trust in March with the intention of removing seven of its nine directors and appointing three new ones – including recently ousted Nick Kyprianou.
Brokers buoy B lender
Equity Financial Trust’s decision to focus on mortgages has been a good move, with the release of its second quarter numbers hinting at the growing popularity of B business in the wake of ever-tightening lending rules.
Alternative lender sells division to focus on mortgages
Alternative lender Equity Financial is selling its transfer agent business in an effort to deepen its pockets and better focus on a rapidly growing retail mortgage operation.
Alt lender to ‘newbie’ broker: Don’t gum up the works!
When it rains, it pours. Alternative lenders are reporting a record number of originations largely due to a tide of borrowers shut out by the big banks. But will a stream of ill-prepared apps clog the pipe?
FirstLine BDMs to brokers: Thank you!
Now-former BDMs for FirstLine are thanking brokers for an overwhelming show of support as they continue with job searches in an increasingly “iffy” market.
Building a better broker-underwriter relationship
Clear communication between brokers and lender underwriters is the key to ensuring a strong mutually beneficial relationship says Equity Financial Trust CEO and Mortgage Summit panelist Nick Kyprianou.
The Big Story: Prepayment clarity
New code of conduct rules for lenders mean they must clarify prepayment and penalty terms for borrowers. While brokers welcome these changes, they feel they don't go far enough. This week we spoke to Nick Kyprianou, CEO, Equity Trust Financial and Deepak Bansal,Ron Alltree, Kunaal Bhalla, Sarah Makhomet and Jonathan Tillger, of Dominion Lending Centres Mortgage Village. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.
Lender questions the value of REDX
A lender is joining brokers in questioning the industry’s use of REDX, arguing the system, meant to flag fraud, is too often misused by underwriters and other subscribers.