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Mortgage Broker News | 25 Nov 2010, 09:00 AM Agree 0
At the annual conference of the Canadian Association of Accredited Mortgage Professionals (CAAMP) in Montreal, Quebec, 1,500 delegates heard from the CEO’s of the leading mortgage industry associations in Australia, Canada and the U.S discuss the current global predicament faced by the mortgage industry following the recent financial crisis.
  • mortgage needs | 26 Nov 2010, 07:16 AM Agree 0
    Canadian independent mortgage brokers could conceivably suffer if leading banks decide to advertise competitive rates like petrol stations do. That is to say, they do away with their current higher posted rates and advertise broker network rates instead.
    The only thing stopping the banks from doing this is that it still pays them to practice price segmentation, or to put it less nicely, price discrimation amongst customers. Those that pay Posted Rates without questions must still be a large enough percentage of customers and so very lucrative for the banks.
  • mortgage needs | 26 Nov 2010, 07:30 AM Agree 0
    It then leads one to think that the day our government [ politicians, and regulatory-consumer advocate agencies ], in the interest of consumer protection and "market efficiency", decide to mandate all banks to operate on and advertise only discounted rates is the day when Canadian independent mortgage brokers will get the real hit.
    As it now sits, our existence in large enough numbers mean do enough business to that extent that we cannot be ignored; and most banks put up with having to offer / carry broker network services as a result.
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