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Mortgage Broker News | 04 Sep 2013, 12:00 AM Agree 0
Early results from CMP’s Brokers on Lenders survey prove that with the ever-tightening underwriting, brokers are having to rely more and more on Alt-A and B deals as fewer clients now qualify for prime.
  • Lior, Mortgage Edge | 04 Sep 2013, 02:15 PM Agree 0
    Here is my take: condos in Toronto are becoming increasingly difficult to place even for borrowers with very good credit. Business *is* being done, however, it is definitely more challenging.

    The issue doesn't necessarily affect consumers who got builder mortgages/rate holds 3 years ago. It affects people who are coming into the market *now*. Moreover, even the alt-A lenders are being more cautious with condos.

    So it really goes back to communicating with your customer from the onset and making sure they are aware that the lending environment is very different today whether they are dealing with a bank or broker.
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