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 83

The Big Story: What brokers are doing about commission cuts

First National then Scotia. Mortgage brokers are worried other lenders will introduce commission cuts on five-year deals. But as Jemima Codrington reports, they're not prepared to lie down and take it.

Video transcript below:

Jemima Codrington, Mortgage Broker News
Jemima Codrington:  Scotia mortgage authorities decision to cut commissions by 5% on 5 year deals is according to them, a growth opportunity.  But do brokers agree?  Hi, I’m Jemima Codrington and welcome to the Big Story on Mortgage Broker News.
The decision has ruffled the industry feathers to say the least.  But is it an idea that’s likely to catch on or is it setting a dangerous precedent?
Marcus Tzaferis, Morcan Direct
Marcus Tzaferis:  Yeah, I feel that it does set a dangerous precedent.  I think that it’s a slippery slope.  Whenever you see such a huge part of the market First National and the Bank of Nova Scotia represent a third of the mortgages originated through brokers.  It’s just such a huge part of the market that, you know it’s going to have repercussions.  So I think we should be a little bit worried.
Simon Vendryes, Real Mortgage Associates
Simon Vendryes:  No, I don’t it’s such a dangerous precedent.  I think it’s short sighted.  The value that brokers bring to the business actually saves Scotia Banks and the primary lenders a lot of money, because we cost them no dollars in the sense in resources.  We bring clients to them at no additional cost.  In the long run I think they will find that they will be coming back with higher commission rates when they lose our business.
Jemima Codrington:  The announcement has the industry looking to place [bang] and has prompted brokers to find ways to battle cuts for the sake of their business.
Marcus Tzaferis:  I think that we have to start doing a better job of informing our customers the pitfalls of dealing directly with a bank.  I think that we’ve got to be bigger proponents of these [model] lines that are out there providing a better product to these consumers and I think that where’s we are going to find success and fight back some of these commission cuts that we are seeing.
  • The Big Story: Collateral charges The Big Story: Collateral charges (views 14851)

    Collateral charges: They're not going away, and brokers will have to adapt, say industry professionals, but are the banks going to make it easier to deal with those onerous mortgages?

  • The Big Story: Attracting new agents The Big Story: Attracting new agents (views 17217)

    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 17047)

    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 14792)

    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 16073)

    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 14259)

    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 14171)

    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 13076)

    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 15993)

    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.