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 73 - 81 of 104

The Big Story: Vancouver brokers have their say

CMP recently held a one-day workshop for brokers at the Vancouver Convention Centre as part of the Canadian Real Estate Investor Forum. Nearly 100 brokers attended four sessions, covering topics such as helping clients with their debt, private lending, the alt-a/sub-prime market and social media. Brokers in attendance felt their time was well spent, both for professional development and for specific takeaways from the sessions. On today’s Big Story we spoke on location in Vancouver to Dustan Woodhouse of Dominion Lending Centres-Canadian Mortgage Experts, Scott Dawson of VERICO Paragon Pacific Mortgages and Deb White, broker/owner  of Dominion Lending Centres Whitehouse Mortgages. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

Video transcript below:


John Tenpenny, Mortgage Brokers News TV
John Tenpenny:
 Hi, I’m John Tenpenny, Editor of CMP Magazine and welcome to the Big Story on Broker News TV on  location in Vancouver.

CMP recently held a  one day workshop for brokers at the Vancouver Convention Centre as part of their Canadian real estate investor forum.  Nearly 100 brokers attended four sessions covering topics such as helping clients with their debt, private lending, realty sub-prime market and social media. Brokers in attendance felt their time was well spent, both for professional development and for specific takeaways from the sessions.

Dustan Woodhoue, Dominion Lending Centres, Canadian Mortgage Experts
Dustan Woodhouse:
 I think that any opportunity a broker gets to further their own education is important.  The best advice I ever had earlier in my career was position yourself as an expert and events like this would have allowed me to do a fairly decent job of just that.  There are more than a few but one of the ones who jumps to mind because it affects a deal I am working on directly right now in a positive way for me and the client, was the discussion in the morning, the four pillars about the different metrics and the constant evolution of them with regard to calculating a client’s beacon score and there were a few little tips and tricks in the session that you know despite attending these things regularly they were new and they let’s just say make a material difference and I know after the session ended there were a dozen brokers all having the same conversation, I didn’t know this and I didn’t know that and that’s going to help with this deal like right now, so it was, it paid for the conference right there, just that one tip that I get that one deal done.

John Tenpenny:  On the topic of social media, brokers were divided on its effectiveness and how big a  role it should play in brokers marketing plans.

Scott Dawson, VERICO Paragon Pacific Mortgages
Scott Dawson:
 Social media basically I’ve, the majority of my marketing is kind of based on, all my marketing, that’s the decision  I chose about two years ago when I first got started into it, probably I think because a lot people in social media, starting out, starting out in the business as well, don’t have a lot of money, so that’s kind of how I got into it.  What I have noticed from that is the relationships that I can build on there, both online and offline has been phenomenal for my business.

Deb White, Broker and Owner, Dominion Lending Centres, Whitehouse Mortgages
Deb White:
 Social media I do use and I have found that I have gotten some leads off the social media.  However, I do not use that as my central base for networking because if you depend 1000% on social media it’s not going to suffice you.  I have built my database and I work my database on a regular basis because that’s what’s going generate and bring leads more so than social media.

John Tenpenny:  In terms of rehabilitating clients credit scores and alternative business, brokers say no client should be turned away and every lending product should be considered.

Deb White:  Oh I try never to turn a client away with the bad credit, I will try and counsel them through their real problems because you never know what brought them to that situation, whether it was a death in the family, a divorce you know anything could bring them to that situation, so we look at the whole scenario. I have had a client where I counselled them for three years, helped them re-establish their credit, worked on their income tax so they prepare it properly, that is acceptable for the lenders and then they come back to me and in that case then have also referred family members to me as well, but I never turn them away.

Scott Dawson:  Yeah, B business I think is something you just can’t, you can’t ignore from time to time we do get clients that fit outside of the A box and it’s something that a broker should obviously be versed in, you know the products that other lenders offer in order to be able to provide that for the client.
 

  • Will OSFI changes go too far? Will OSFI changes go too far? (views 15346)

    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.

  • Ingrid Menninga: Marketing 101 Ingrid Menninga: Marketing 101 (views 17518)

    Marketing for brokers is about cost-effective methods that deliver results, says Ingrid Menninga of Jolt Marketing, who will be presenting "Monetize your Marketing" at the upcoming Mortgage Summit, powered by CMP magazine. One of the first decision brokers need to make when putting together a marketing plan, she says, is to decide who their most important clients are.

  • The Big Story: Fixed-rate mortgage shift The Big Story: Fixed-rate mortgage shift (views 15004)

    It wasn’t too long ago that the prevailing wisdom held that variable-rate mortgages were the way to go. Now, a recent poll reveals that fully half of all Canadians said they would choose a fixed rate mortgage if they had to decide today, a 10 per cent increase from a year ago. That’s a huge shift from the past five years, when people saved money by sticking with variable rates. Brokers can certainly attest to this trend, and say they are seeing clients choose longer term mortgages with rates at historic lows. They are also recommending that clients go with as long a term as possible, event 10-years, as rates haven’t been this low in 20 years. This week we spoke with Catherine Evel, mortgage broker/owner and mortgage agents Kelly Sams and Julia Parkin at Dominion Lending Centres-Homestead Financial. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: HELOCs The Big Story: HELOCs (views 12794)

    The right product for the right client. This is especially true for HELOCs, which now account for almost 50 per cent of non-mortgage debt. Even as government moves to cool this market by withdrawing its backing, brokers are finding more lenders are offering them the product. Brokers caution however, that HELOCs need to be used wisely. They need to present the product properly and advise responsibly, so the best long-term interests of their clients are met. This week we spoke to, Ron Alltree, Kunaal Bhalla, Sarah Makhomet Deepak Bansal and Jonathan Tillger, of Dominion Lending Centres Mortgage Village. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: Prepayment clarity The Big Story: Prepayment clarity (views 14376)

    New code of conduct rules for lenders mean they must clarify prepayment and penalty terms for borrowers. While brokers welcome these changes, they feel they don't go far enough. This week we spoke to Nick Kyprianou, CEO, Equity Trust Financial and Deepak Bansal,Ron Alltree, Kunaal Bhalla, Sarah Makhomet and Jonathan Tillger, of Dominion Lending Centres Mortgage Village. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: The spring market The Big Story: The spring market (views 12156)

    Spring is upon us. The spring housing market that is, as the winter weather really never arrived in most parts of the country this year. Typically, it’s the busiest time for home purchases and renewals. Brokers who haven’t been preparing by marketing themselves and reaching out to clients and referral partners are likely to get left behind. It’s when things are slow that brokers say you should be reconnecting with referral sources such as Realtors and your client database who are likely to know someone who is looking to purchase or refinance. This week we spoke to Sarah Makhomet, Kunaal Bhalla, Jonathan Tillger, Ron Alltree and Deepak Bansal of Dominion Lending Centres Mortgage Village. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: Mortgage Fraud The Big Story: Mortgage Fraud (views 15154)

    Most brokers think it could never happen to them. But mortgage fraud is still a problem. Not anymore with brokers than with banks, but a recent report put the cost of mortgage fraud at $400 million, a number everyone should be concerned with. For brokers, preventing fraud comes down to “knowing your client”. Education is also key in knowing what to look for when putting a deal together. This week we spoke to Ray Leclair, VP, public affairs for LAWPRO (TitlePlus), Lee Welbanks of The Mortgage Centre and Bill Eves, Wayne Sudsbury and Grant Brown of Homeguard Funding Ltd. (VERICO). Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: What should Flaherty do? The Big Story: What should Flaherty do? (views 14789)

    It’s no surprise that this year’s federal budget is focused on reducing debt. But it’s not just their debt that concerns Finance Minister Jim Flaherty. With Canadian household debt continuing to rise and home prices slowing, but not dropping, some have predicted that the government will tinker with mortgage rules for the third year in a row and lower the maximum amortization period. Not surprisingly, most brokers disagree with this option. MortgageBrokerNews caught up with some brokers at the Centum inaugural conference – VISION 2012 – held in Toronto. This week we spoke to Enza Venuto, Paul Therien, Karim Talib, Aniruddh Raol and Jimmy Hansra. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.

  • The Big Story: The Lending Landscape The Big Story: The Lending Landscape (views 12323)

    With recent events, the lending landscape outlook remains uncertain. What effects are these changes going to have on the broker channel and how will brokers adapt? Some say it will be short term pain for long term gain, while others think a new order will be created. On today’s Big Story, we spoke to Lee Welbanks of The Mortgage Centre, and Wayne Sudsbury, Bill Eves and and Grant Brown of Homeguard Funding Ltd. (VERICO). Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.