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Mortgage Broker News | 27 Feb 2015, 11:41 AM Agree 0
Credit unions are slowly earning their chunk of the mortgage market, but brokers warn of the potential pitfalls of not knowing the limitations and carefully reading the fine print.
  • Alain Payette | 27 Feb 2015, 12:12 PM Agree 0
    Over 50% of the market to the credit union in the province of QC.
  • Isaak Friesen | 27 Feb 2015, 01:39 PM Agree 0
    I send over 80% of my business to Credit Unions. They have Common sense. Banks have none.
  • OkanaganBroker | 27 Feb 2015, 03:15 PM Agree 0
    Agree with Isaak, Credit Unions still have staff who can actually make decisions instead of just following a "rule book" I spend far less time on each deal done with a CU than with any other lender, and time is money. Not to mention my local CU's provide excellent service to me and my clients...One client was recently hit with an addtional closing expense (prepaid property taxes that were not refundable from the city) so she had to pay for the vendors over exuberant tax installments...One call from me and the CU gave her a $5,000 unsecured LOC and she was able to sign for it within 1 hr....That is Service!
    The restrictions noted in the article are real, so the old rule applies..."Know your client"
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