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 - 87 of 87

The Big Story: Brokers vs Banks

Brokers are increasingly squaring off against their nemesis the mortgage specialist in the fight to win renewals, with banks upping their efforts to retain that business. But should brokers give up or is there a smarter way to win this bout of the rate wars?

Video transcript below:

Reporter: The big fight continues. As always it’s the brokers versus the bankers. The prize, the renewal market! But should brokers even pick up their weapons, it’s The Renewal War on this week’s Big Story.

Winning renewals are a competitive and time consuming process. New reports says brokers aren’t making headway. But is the battle really worth the fight? What is really happening on the ground?

James Laird, COO, True North Mortgage

James Laird: The renewal market is one of the most challenging aspects of the industry because you are competing with a lender or bank who already has that client and it’s much easier just to sign a renewal paper with that bank and to go through with the process of being re-approved. Collateral charges is making it even difficult because now a lawyer needs to be involved in order to move from one lender to another. Thankfully many of our lenders have come out with free legal services, meaning that we can compete and not get that legal cost of switching from one bank to another. Banks do help us out by trying to renew their clients at [full posted] rates, which can often aggravate people and so they come in to us and our rates are 2% lower, we can offer them free legal service to switch out of collateral charge, that wins us lot of business.

Reporter: Does offering unique services really win renewal business?

Patricia Giankas, Mortgage Broker, Centum Metrocapp Wealth Solutions

Patricia Giankas: We are using a few things that are unique to retain our renewal business. We have, we are using Centum Financial [that you see for our dollars] we are have actually taken that to our financial planners and did some seminars of which we’ve got a few renewals. We also hired Doren Aldana, mortgage coach and we also have a business coach EDI all three are very beneficial in different aspect of our business to help increase our market share.

[End of Video] [00:01:59]

  • The Big Story: Housing market snapshot The Big Story: Housing market snapshot (views 13851)

    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 16631)

    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 18288)

    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 20044)

    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.

  • Broker Panel: Part III Broker Panel: Part III (views 14570)

    The trend towards efficiency in the industry is one that everyone has an opinion on. It’s just one of the issues in the broker/lender relationship, which drives the industry. In Part III of MortgageBrokerNewsTV’s broker panel, our group of experienced and successful brokers from across the country share their thoughts on this topic, as well as other, such as volume pooling and the broker/underwriter relationship, which has seen much debate in the industry over the past year. In the coming weeks the panel will touch on other mortgage industry hot-button issues. Find out on MortgageBrokerNewsTV, your home for the industry’s best news, opinion and analysis.