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Mortgage Broker News | 19 Feb 2015, 06:40 AM Agree 0
The shadow lending market is growing as tighter regulations force the major banks into tighter controls.
  • Dave | 19 Feb 2015, 08:51 AM Agree 0
    Meanwhile the banks have completely different rules than broker lenders and their own 'shady' deals are being done. Whole industry is run by the banks , not the government.
  • Hugo Dos Reis | 19 Feb 2015, 10:12 AM Agree 0
    Interesting to hear this from CIBC. I had reviewed a deal for a client that couldn't get done on the "A" side without a co-borrower. Client advised he took it to CIBC and they made it work, despite the ratios being completely off... Not the first time either i've lost something to CIBC. Some of these branch sales people have their own authorization limits, so deals are getting pushed through that shouldn't be.
  • John Woods | 19 Feb 2015, 02:17 PM Agree 0
    Even though I have a great deal of respect for Mr. Tal, the age old expression "people in glass houses should not throw stones" comes to mind.
  • Ron Butler | 19 Feb 2015, 02:44 PM Agree 0
    I think Mr. Tal's focus is actually on the people who are putting money into shadow banking. The question is with millions a month pouring into MICS and mortgage syndications is the INVESTOR being properly disclosed all of the risks, are these quality mortgages with strong property values or speculative flyers with voodoo valuations. Tal's comments are valid within the context of the what will happen to the investors that create the shadow banking world if the lending is reckless.
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