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 64 - 72 of 99

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: Attracting new agents The Big Story: Attracting new agents (views 16034)

    Brokers have been hiring new agents from time immemorial, but new pressures around commission splits and training are adding to the challenge. At the CMP Mortgage Summit, The Big Story spoke to industry veterans Gord Dahlen, of Dominion Lending Centres, and Ron De Silva, from RMAI Financial Group for their take on the issue.

  • VIDEO: The 2012 Canadian Mortgage Awards VIDEO: The 2012 Canadian Mortgage Awards (views 15662)

    More than 500 of the industry's best were on hand in Toronto to honour their peers at the sixth annual Canadian Mortgage Awards at The Carlu. A Roarin' 20s theme was the backdrop as mortgage industry leaders were recognized for their achievements.

  • The Big Story: At The Mortgage Summit The Big Story: At The Mortgage Summit (views 13465)

    More than 500 of the industry's best attended the two-day Mortgage Summit in Toronto, which was focused on giving brokers the tools, the insights and the knowledge they need in this dynamic market. That was the collective message of more than 40 speakers on two stages. Find out on today’s The Big Story, on TV, your home for industry news, opinion and analysis.

  • Building a better broker-underwriter relationship Building a better broker-underwriter relationship (views 14724)

    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.

  • B-side opportunity B-side opportunity (views 13028)

    The increasing amount of B business available is one way for brokers to improve their bottom line, says Home Trust executive and Mortgage Summit panelist Agostino Tuzi.

  • Being more competitive Being more competitive (views 12950)

    The mortgage origination market is only going to become more competitive, says Top 50 Broker and Mortgage Summit panelist Calum Ross, and brokers who don't invest in themselves in order to differentiate their business might not be around for long.

  • Getting SYNCED at The Summit Getting SYNCED at The Summit (views 11877)

    One of the benefits for brokers of attending conferences is the opportunity to meet with others in the industry. With this in mind, Chris Davis, events and conference manager for KMI Publishing, talks about SYNCED a new meeting software being used at The Mortgage Summit to help brokers get the most out their time at Canada’s only independent business event for the Canadian mortgage brokering industry.

  • The future of private lending The future of private lending (views 14440)

    According to New Haven Mortgage president and CEO and Mortgage Summit panelist David Vyner, the outlook for private lending may depend on proposed refinancing rules and their potential effect on home prices.

  • Will OSFI changes go too far? Will OSFI changes go too far? (views 15803)

    Many in the mortgage industry, both brokers and lenders, are now awaiting to hear if OSFI will implement some or all of the B-20 guidelines announced earlier this year and whether there will be any changes to these rules that could have a major impact on the lending landscape. Pacific Mortgage CEO and Mortgage Summit panelist Ron Swift says many of the proposals go too far and may do more harm than good to the market.