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 82 - 87 of 87
Why lenders are changing the rules
Verico's Colin Dreyer is offering his own analysis on why the lending landscape for brokers is changing and what if anything mortgage professionals have to worry about.
Video transcript below:
The broker channel in our opinion is just as competitive as it ever was. What has changed is the competitiveness of various lenders that serve the broker channel. Again some lenders found the new market risk, regulation of funding sources a challenge and decided to make business decisions around that. That being said we do believe that this is a shared problem.
The changes [mentioned] by the financial crisis changed the fundamentals for all lenders and consequently these changes were passed down to mortgage brokers and ultimately our consumers in the form of tighter credit and more stringent qualification requirements which we are seeing everyday at the present time. All that being said, consumers always need credit. Lenders are there to lend money.
We all need to attract new consumers and everyone needs to make a profit. So we see that happening, we see that commitment to the industry still there, so we still see very real significant opportunity. The mortgage origination channel continues to mature and it provides the consumers the expertise and choice they need and want to make informed financial decisions, so do we see a bright future? Absolutely.
The Big Story: Amortization again?
It’s becoming a broken record. Consumer debt levels rise and there are calls for the government to tighten mortgage lending. The latest rumour involves the lowering of the maximum amortization from 30 to 25 years. Many brokers disagree with the idea, suggesting 30-year amortizations are largely used to free up cash each month, money often better spent paying down high-interest debt. In addition to amortization rumours, some lenders have recently cut or altered their products for business for self and new immigrants. Some brokers think this may be short-sighted, while others say the industry will adapt, like it has always done. On today’s Big Story, we spoke to James Robinson of The Mortgage Centre-Mortgage Watch Inc., John Panagakos of Dominion Lending Centres-Home Financial Inc. and David Smith of Oriana Financial. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.
The Big Story: Fighting 2.99
It might have seemed like the end of the world: A competitor offering an unmatchable 2.99 per cent on a five-year fixed. Brokers were understandably concerned about the pressure it would place on them to match the historic low. In the end, it actually helped drive business for brokers, as some reported a relatively brisk demand from preapproved and new clients. MortgageBrokerNewsTV recently spoke to mortgage professionals James Robinson of The Mortgage Centre-Mortgage Watch Inc., John Panagakos of Dominion Lending Centres-Home Financial Inc., and David Smith at Oriana Financial to get their analysis Find out on MortgageBrokerNewsTV, your home for the industry’s best news, opinion and analysis
Brokers positive about year ahead
2012 is sure to be another year of challenges for mortgage brokers as they face a flat real estate market, international economic uncertainty and increased pressue from banks and the accompanying low rates. MortgageBrokerNewsTV recently spoke to some brokers at the Mortgage Alliance 2012 Kick-Off Rally in Toronto, including Dan Balfour, Lisette Amalfi, Scott Ede, and Walter and Karen Monteiro to find out how they're going to meet these industry challenges head-on.
Find out on MortgageBrokerNewsTV, your home for the industry’s best news, opinion and analysis.
Broker Panel: Part III
The trend towards efficiency in the industry is one that everyone has an opinion on. It’s just one of the issues in the broker/lender relationship, which drives the industry. In Part III of MortgageBrokerNewsTV’s broker panel, our group of experienced and successful brokers from across the country share their thoughts on this topic, as well as other, such as volume pooling and the broker/underwriter relationship, which has seen much debate in the industry over the past year. In the coming weeks the panel will touch on other mortgage industry hot-button issues. Find out on MortgageBrokerNewsTV, your home for the industry’s best news, opinion and analysis.
Industry leaders chart challenges of 2012
The past year has been a challenging one for brokers and the mortgage industry and it’s not going to let up in 2012. MortgageBrokerNewsTV recently spoke with some industry leaders to discuss what those challenges facing brokers and lenders are and how they might meet these challenges in the coming year. For brokers, increasing market share in the face of bank competition, a cooling housing market and trying to stay the course amidst economic uncertainty is just some of what awaits. For lenders, issues such as access to capital and potential regulatory changes around non-income qualified lending will be high on the list moving forward. On today’s Big Story, we spoke to Ron Swift of Pacific Mortgage Group, Andrew Moor of Equitable Trust and Martin Reid of Home Trust. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.