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Mortgage Broker News | 06 Jul 2011, 10:00 AM Agree 0
They’re the kind of subprime deals many Ontario brokers have overlooked, said a 35-year veteran of the industry, but brokers willing to connect individual borrowers with individual private investors are positioning themselves for long-term revenue growth.
  • Barbara Wetmore AK Mortgage MIll | 07 Jul 2011, 04:53 AM Agree 0
    I have been dealing with private lenders for years, it is a good business, I help many clients stay in their home or purchase a new home when when they can't qualify for a main stream lender. It is an especially good business to be in now when so many alternate lenders are leaving the market.
  • Another Broker | 07 Jul 2011, 11:00 PM Agree 0
    I lend privately on smaller residential and vacant land deals. I have gotten to the point though where I will not do the deal if it comes from a mortgage agent. There does not seem to be any training given anywhere from courses or review by the agents' broker of what is required for a private deal. The thought seems to be a private deal does not need any documentation or honest information and to take the word of the agent as to value of the proerty and do not ask to talk to the client. It's actually pretty sad to think that brokers are actually letting their agents loose on this stuff when the agent is not yet even well enough trained to put together an A deal.
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