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Brokers: Scotia’s ING purchase benefits channel

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Mortgage Broker News | 31 Aug 2012, 10:30 AM Agree 0
One of ING’s biggest broker partners is arguing against fears Scotia will compromise the smaller player’s independence.
  • Ron Butler | 05 Sep 2012, 12:55 AM Agree 0
    I am sure that Scotia has every intention of keeping and growing ING's consumer direct model for deposits and mortgages through its call centres. That was the reason to make the purchase in the first place.

    I think there is zero chance that Scotia will continue to operate ING's broker side for mortgages. The reason banks buy other banks is to reduce costs and combine departments to save money. Running two mortgage brokerage divisions makes no sense, particularily when SMA is the biggest mortgage brokerage lender in Canada.
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