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:

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The Big Story: Catching unlicenced brokers

Are regulators doing enough to crack down on unlicenced brokers? Should FSCO push harder for tougher penalties? MBN finds out.

Video transcript below:

Reporter: Everyone wants to be a mortgage broker these days or so FSCO says. The problem is that some of them just don’t want to get a license. Is FSCO doing enough? It’s license to catch on this week’s Big Story.

Putting up a poster, advising clients, is it that easy to do business as a mortgage broker? Well it is for some. But how easy is it to stop them? Brokers may have a role to play.

Anne Brill, Centum Metrocapp Wealth Solutions Inc.

Anne Brill: Licensed brokers should anytime report anyone they see that they feel is unlicensed to FSCO, so we can stop this. The unlicensed individual is not sure of possibly disclosures, doesn’t have a certification and upto date information to be able to successfully sell a client.

Reporter: FSCO act on complaints, reactive not proactive. Is that enough?

James Laird, COO, True North Mortgage

James Laird: The mortgage broker industry is regulated by two entities. We are regulated day to day by the lenders we submit to and they audit for risk, tolerance, credit etc. and that is well taken care of by the lenders. FSCO’s job is to make sure that our customer service is what it should be and that we are delivering what we promise to our customers, so because there is inherently another auditor, which is our lenders in the industry, I think that complaints driven process is sufficient.

  • The Big Story: Lenders and grow-ops The Big Story: Lenders and grow-ops (views 11382)

    Brokers are generally supportive of registering former grow-op properties, but will monolines and banks ever lend on those rehabilitated homes?

  • The Big Story: The Mortgage Summit 2013 The Big Story: The Mortgage Summit 2013 (views 9126)

    Here's the highlights of the 2nd-annual Mortgage Summit, powered by CMP and bringing together more than 500 industry players for two days of professional development and networking.

  • The Big Story: The CMAs take the stage The Big Story: The CMAs take the stage (views 8590)

    Toronto was host to the 7th annual CMAs, theatre-styled gala honouring 21 industry players from brokers to underwriters. Take in the sights and sounds of this extravaganza.

  • The Big Story: Fighting doom and gloom The Big Story: Fighting doom and gloom (views 9179)

    The real estate forecasts of some big players have receive even bigger media attention. That's bad news for brokers sitting on preapprovals. But there is a way to encourage ready buyers into the market.

  • The Big Story: Rate Madness The Big Story: Rate Madness (views 13426)

    When one of the Big Five announced it would match any rate a competitor offered, brokers sat up and took notice, and then they got busy...

  • How to be a disruptive force How to be a disruptive force (views 9080)

    Industry trainer and broker Greg Williamson (Mortgage Professionals Academy) wants brokers to be a distruptive force for change, turning the tables on the banks and the rate wars. He`ll lay out his strategy at the upcoming Mortgage Summit (May 9 - 10) in Toronto during a luncheon workshop open to all registered attendees. For more information on the workshop, visit

  • Mapping out your marketing plan Mapping out your marketing plan (views 10274)

    Mortgage professional Michael Mullis -- the Mortgage Teacher -- is helping brokers master the art of multimedia marketing, with a session at the upcoming Mortgage Summit revealing all the tricks of that increasingly important trade.

  • Benefit from BMO's 2.99 Benefit from BMO's 2.99 (views 10481)

    Brokers weren't impressed by BMO's 2.99 per cent on its 5-year no-friller, says Centum's Paul Therien, but the offer has highlighted the need to provide clients both rate and expertise.

  • Bringing client communication in focus Bringing client communication in focus (views 11989)

    It's not an option, rather a necessity. Still, many brokers haven't yet developed an effective strategy for communicating with clients, says marketing coach Claire Drage, a speaker for the upcoming Mortgage Summit.