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 55 - 63 of 99
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: FirstLine who?
Brokers are still lamenting the loss of industry innovator FirstLine, but the race is increasingly on strengthen connections to other lending partners, say brokers in this episode of the Big Story
Audio file: Gary Mauris on associations
Audio file: Brokers continue to debate the role of industry associations, but Gary Mauris at Dominion Lending Centres is now weighing in for a feature in the September issue of CMP.
The Big Story: Time to reduce wait times
Reducing turnaround times for applications should be priority No. 1, say some brokers, appealing to monolines as competition moves beyond rate.
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.
The Big Story: Bigger lenders for broker channel
Proposed federal legislation would hand brokers new national lending partners, keener to use them for expansion into virgin territory.
The Big Story: New mortgage rules, new opportunities
Those new, tighter mortgage rules have a number of downsides for brokers, but are there any potential positives? Yes, they do, according to some seasoned players.
Brokers to Lenders: Listen
Brokers are relying on CMP's Brokers on Lenders survey as a primary platform to share their concerns and their compliments.
The Big Story: Upping your entrepreneurship
Entrepreneurship for brokers: Brokers are schooled the ins and outs of putting together an application, but buildiing a business that separates them from the competition is often a self-taught lesson. Here's what they need to know.
The Big Story: Collateral charges
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?