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 28 - 36 of 92

The Big Story: Protecting clients from themselves

The new mortgage rules have clients juggling their monthly debt payments to qualify, but there's real danger in getting too creative, say brokers.

Video transcript below:

Jemima Codrington, Mortgage Broker News
Jemima Codrington:  The new mortgage rules are meant to protect consumers, but now they need brokers to have them navigate this new landscape.  Hi, I’m Jemima Codrington and welcome to the Big Story on Mortgage Broker News.
Credit may be tight but opportunities still abound in the market.  Brokers are in a unique position to be able to advise home buyers on how to make the most of this situation.
Michael Marini:  Dominion Lending Centres
Michael Marini:  Brokers can educate clients in terms of the current market conditions.  And in Toronto we’ve got escalating rental prices and lowering resale prices.  There is a great opportunity for investors, there is a great opportunity for first time home buyers to buy, because they can buy at lower prices and actually afford a property cheaper than they can rent right now.  We have got multiple offers on rental properties and an increasing number of supplier properties in the resale market.  So there is great opportunity today for purchasers.
Jemima Codrington:  Strategies such a debt restructuring help home buyers maximise the amount of money that they can borrow.  However, the more money one borrows the greater the risk of overextending oneself.  
Richard Samuels, Obsidian Mortgage Corp.
Richard Samuels:  I believe there has to be a real true discussion amongst the brokers and the clients.  Brokers not only have to help the client in just buying a home, but the job should be really based around making sure that they can afford the liabilities around a home and find that mortgage product that fits that client.  The kind of situation where a guy has 20% on a $500,000 home, but if that 20% is his only 20% and his income is questionable at best, a $500,000 may not be the right answer for this person.  He needs a $200,000 condo and as agents and brokers fiduciary responsibility being what it is, we have to have these discussions with our clients, make sure that we are on top of it.
Michael Marini:  The dangers in restructuring your client’s debt are that you may open up room for them to accumulate more debt or maybe they didn’t eliminate the debt, maybe they had a parent off the debt and they still owe the money back.  So if you open up someone’s debt and the level of debt that they can obtain, we could put ourselves in a position of what happened in the US crisis, where people are trying to re-absorb debt later into their mortgages and prices fall and they can no longer afford the property, they can no longer afford the debts, they are forced to sell in a market where they can’t sell their property because they owe more than what they have in assets.
  • The Big Story: The most effective social media tool The Big Story: The most effective social media tool (views 10298)

    Brokers are as gung ho about social media and its power to win leads as other salespeople. But which one -- Twitter, Facebook, et al -- provides the biggest bang for a broker's buck? MBN finds out.

  • The Big Story: Lenders and grow-ops The Big Story: Lenders and grow-ops (views 11309)

    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 9056)

    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 8522)

    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 9101)

    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 13347)

    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 9015)

    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 10183)

    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 10400)

    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.