Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Mortgage Broker News | 12 Dec 2016, 08:15 AM Agree 0
Readers with delicate sensibilities be wary: There’s an F-bomb in this article
  • Amber | 12 Dec 2016, 02:26 PM Agree 0
    I was at the conference and felt very uplifted listening to these gentlemen.

  • Bert Czombos | 13 Dec 2016, 09:55 AM Agree 0
    Please remember to remember this time when the next federal election takes place please. While I certainly applaud the efforts of our industry to adapt - there is nothing that scares the leadership of a party more than being told that they've lost your vote. There is no "feel good" story here for the gov't. These over reaching changes aren't saving a whale or a rainforest or any of that. They have simply implemented policies that now reduce the size of the marketplace for all Canadians. Our insured mortgage market is sound, and did not need most of the changes we've had forced on us. So please - when customers complain about not being able to get a refinance loan or mortgages for their rental properties - let them know exactly who is responsible for that. Their elected federal government.
  • nick | 14 Dec 2016, 08:28 AM Agree 0
    sorry bert but these measures should have been implemented a long time ago. Home ownership is a privilege not a right . We mortgage brokers are putting some individuals into the housing market when infact they are not really ready with some of the challenges that home ownership entails. Stress tests should have been implemented long ago . Infact the debt servicing ratios allowed have been in place for over 30 years while personal income tax has increased over the same period. Using gross figures to calculate debt servicing is a very dangerous game . Why not just decrease the debt servicing ratios all together and the same result would occur.
  • MIKE BORODY | 16 Dec 2016, 02:22 PM Agree 0
    Everyone seems to prefer to refer to mortgages as consumer debt! In reality,it is the cost of shelter!Individuals have the right and ability to choose the comfort level to their desired goals. Yes, there have been numerous comments about being house poor while getting established into the housing market,but those that toughed it out by choice reap the benefits of a house mortgage paid off and new equity in the rise of the market in almost every jurisdiction.Equity in their home is the prime foundation for every retirement strategy of the ordinary working guy.Foreclosures occur regardless of rates and market,,divorce,job loss,etc will always happen!Let C.M.H.C. take care of first time and low income buyers to aid home ownership and private enterprise take care of the investors and equity take out loans. Get the taxpayers risk down by protecting CMHC from the secondary housing(investment) market.
  • Frank | 18 Dec 2016, 03:35 PM Agree 0
    The changes over the years albeit some making sense, many hurting clients and the broker world when the changes were unessessary. There are ALOT of people in homes who can't afford it, but that is the problem the broker and lender did to them...altering info?!? The government has no idea how to correct consumer spending. Let's face it, the ratio of income rising versus bills rising is a joke. Income on average has come down and everyone's bills are going way up. Government needs to start looking elsewhere and leave the damn mortgage industry alone. With such low delinquency Canadians have proven even if they can't afford the house, they somehow make it work and stay in their homes.
Post a reply