Broker news TV

Broker news TV brings you closer to the industry's most influential leaders and thinkers. Click on the videos below to watch the interviews:

Showing 82 - 86 of 86

Calum Ross takes on rate sites

There's nothing inherently wrong with rate sites, says top-performer Calum Ross, but they may obscure the other, arguably better ways professional brokers can save clients money.

Video transcript below:

Reporter:  Providing the best rate is an integral part of winning customer referrals.  So brokers are exploring many avenues to compare the best rate.  But are rate comparison sites the best way to do so?  We find out in this week’s Big Story on Mortgage Broker News.
Interest rate comparison sites are rising in popularity for a couple of reasons.  Broker, Calum Ross explains.
Calum Ross, President, The Mortgage Management Group
Calum Ross:  You know I think rate comparison sites are a very useful tool for a lot of people, but in fairness I don’t think that they are rolled in for a lot of consumers, because obviously there is quoted rates and real rates.  And you know a client’s mortgage options are specific as they are.  It’s a great tool to get general transit information, but it’s been my experience, a lot of rates quoted on there are actually not the most effective products for clients and they are not necessarily in the client’s best interest.
Reporter:  But while offering a low rate is an important part of the process, it isn’t necessarily the be all and end all when it comes to winning client satisfaction.  So how important is the rate when competing for business?
Calum Ross:  I think rate is an important element for clients but you know most people think they actually want the lowest rates, when in fact what they really want is they want to save the most amount of money.  The challenge is of course, that a lot of consumers don’t differentiate between the rate and the savings and you know when you are talking about a real estate investor or a more specificated consumer, in more cases than not, it’s often the type of products and the structure of it that saves people a lot more money than what you might find in terms of an interest rate.  It’s because typically the difference between the most competitive this kind of rate and the generally available rates, in very real terms amounts to a insignificant amount of money and so making sure the product fits more specifically the client’s financial goals plays a much better role in saving money and building wealth.
  • The Big Story: Housing market snapshot The Big Story: Housing market snapshot (views 13861)

    It’s been an ongoing debate for a while now. Housing bubble – no housing bubble. The latest numbers support the idea that the Canadian housing market will have a soft landing in 2012. In January, CREA reported that sales activity was down for the first time since August of 2011, while prices increased by a modest two per cent year-over-year. Forecasts for economic and job growth going forward vary widely for different parts of the country, meaning some markets may soften while others pick up. For experienced brokers, continuing to work with Realtor partners may be one key to surviving any drop-off in the market. As well, people will continue to buy, refinance and renew. So regardless of what the market may or may not do, brokers need to continue to show clients why brokers are an integral part of the home-buying purchase. On today’s Big Story, we spoke to mortgage broker Paula Roberts and mortgage agent Dena Kakaletris of The Roberts Group-Dominion Lending Centres. Find out on today’s

  • The Big Story: Amortization again? The Big Story: Amortization again? (views 16661)

    It’s becoming a broken record. Consumer debt levels rise and there are calls for the government to tighten mortgage lending. The latest rumour involves the lowering of the maximum amortization from 30 to 25 years. Many brokers disagree with the idea, suggesting 30-year amortizations are largely used to free up cash each month, money often better spent paying down high-interest debt. In addition to amortization rumours, some lenders have recently cut or altered their products for business for self and new immigrants. Some brokers think this may be short-sighted, while others say the industry will adapt, like it has always done. On today’s Big Story, we spoke to James Robinson of The Mortgage Centre-Mortgage Watch Inc., John Panagakos of Dominion Lending Centres-Home Financial Inc. and David Smith of Oriana Financial. Find out on today’s The Big Story, on TV, your home for industry news, opinion and analysis.

  • The Big Story: Fighting 2.99 The Big Story: Fighting 2.99 (views 18305)

    It might have seemed like the end of the world: A competitor offering an unmatchable 2.99 per cent on a five-year fixed. Brokers were understandably concerned about the pressure it would place on them to match the historic low. In the end, it actually helped drive business for brokers, as some reported a relatively brisk demand from preapproved and new clients. MortgageBrokerNewsTV recently spoke to mortgage professionals James Robinson of The Mortgage Centre-Mortgage Watch Inc., John Panagakos of Dominion Lending Centres-Home Financial Inc., and David Smith at Oriana Financial to get their analysis Find out on MortgageBrokerNewsTV, your home for the industry’s best news, opinion and analysis

  • Brokers positive about year ahead Brokers positive about year ahead (views 20065)

    2012 is sure to be another year of challenges for mortgage brokers as they face a flat real estate market, international economic uncertainty and increased pressue from banks and the accompanying low rates. MortgageBrokerNewsTV recently spoke to some brokers at the Mortgage Alliance 2012 Kick-Off Rally in Toronto, including Dan Balfour, Lisette Amalfi, Scott Ede, and Walter and Karen Monteiro to find out how they're going to meet these industry challenges head-on. Find out on MortgageBrokerNewsTV, your home for the industry’s best news, opinion and analysis.