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Mortgage Broker News | 20 Feb 2013, 11:10 AM Agree 0
Brokers are crediting with "encouraging” a B.C. credit union to honour the renewal fee pledge of a retired program.
  • KS, Nanaimo | 21 Feb 2013, 06:01 AM Agree 0
    This is very great news and timely as my Lawyer was just preparing documents! I have contacted them and have been told to expect a response by end of next week. I truly hope they make good on this promise. I applaud everyone for the courage to keep pressing Northsave.
  • Ottawa Broker | 21 Feb 2013, 06:32 AM Agree 0
    This is good for the brokers that used them, I just hope no one congratulates the lender for doing this, they are only doing this because they have to or they will face lawsuits. I hope all the western brokers see the light with this lender and stop using them. We as brokers need to value what we bring to the lenders and be more selective in what lenders we use. Rate and bps paid should not be in the equation when selecting a lender. if it is, we as brokers will continue to have battles like the ones faced by the brokers in west that have supported this lender. If another lender can do the deal, don't use this lender. The lenders do not control our industry, we as brokers control our industry.
  • Ted Jones | 21 Feb 2013, 06:50 AM Agree 0
    I too have been contacted directly by Northern Savings to facilitate the receipt of the outstanding and future commissions on renewals. They have asked that we submit the original signed Disclosure Statement as well as a signed Consent form to in order to begin processing the fee’s. I am hoping that they do follow through with payment with the least amount of followup by all participants. Thank you to all who contacted me and Northern Savings to ensure that they reconsidered their decision and to enable the grandfathering of the prior mortgages.
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