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

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: Attracting new agents The Big Story: Attracting new agents (views 16044)

    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 15680)

    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 13472)

    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 14739)

    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 13033)

    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 12963)

    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 11885)

    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 14458)

    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 15812)

    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.