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:
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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.
Bringing client communication in focus
It's not an option, rather a necessity. Still, many brokers haven't yet developed an effective strategy for communicating with clients, says marketing coach Claire Drage, a speaker for the upcoming Mortgage Summit.
The Big Story: Lead generation tuneup
All brokers make a claim to have the best lead-generation strategy going, but many could use a spring tuneup, according to experts Claire Drage of The Lion's Share Group and Calum Ross of Calum Ross Mortgage.
Calum Ross takes on rate sites
There's nothing inherently wrong with rate sites, says top-performer Calum Ross, but they may obscure the other, arguably better ways a professional brokers can save clients money.
The Big Story: Bracing for another battle of the mortgage rules
Brokers continue to grapple with those new tighter mortgage rules and lending guidelines, but can they expect any more for 2013? Jemima Codrington reports, and answers that question.
The Big Story: The future of condo originations
The Bank of Canada is sounding the same concerns as the federal government about the future of the condo market for buyers but also brokers.
The Big Story: Broker defections
Brokers and, indeed, brokerages are increasingly on the move from one network to another. But marketing and not rate may be the strongest pull factor. Find out why.
The Big Story: Broker welcomes O'Leary
Brokers have registered a number of concerns about Kevin O`Leary`s business model. Still, some think he may help brokers, reports Jemima Codrington, from Toronto.
The Big Story: Brokers endorse Emili
Brokers say consumers and lenders benefit from Emili despite criticisms that CMHC`s automated system routinely overvalues properties.
The Big Story: Brokers offering unsecured credit
Brokers may have qualms about unsecured credit and the banks that provide it, but how do they feel about offering those credit cards themselves?