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Mortgage Broker News | 31 Jan 2013, 02:00 AM Agree 0
There's more than one way to skin a cat and more than one way for lenders to up their appeal for brokers in an increasingly competitive market.
  • wow | 01 Feb 2013, 03:44 AM Agree 0
    How is this news? C'mon CMT...Only available on 1 or 2 year terms and Insured only...we need some real lenders with real products. What a huge loss of ING & Firstline. We need more balance sheet lenders...
  • Welbanks | 01 Feb 2013, 04:50 AM Agree 0
    I'm glad to see they are catching up to everyone else, but how is this really newsworthy? Not to mention that these guys haven't done anything great... both Resmor and Bridgewater are bottom of the barrel lenders with many obstacles to overcome before they can be considered credible lenders.
    I think you need to find better content.
  • Jake | 01 Feb 2013, 04:51 AM Agree 0
    I agree-this isn't news. MCAP offers a free switch program where they pay appraisal and legals. Other lenders do, too, and don't limit you on the term. MonCana isn't trying anything new here. If I was a new lender coming into the space I would offer something NOBODY has, not something everyone does and limit it even further.
  • MP | 01 Feb 2013, 06:06 AM Agree 0
    If you read the article you would notice that it said "also" on one and two year terms. I believe that other lenders are only switching on five years and greater usually.
    If someone would switch regular mortgages that are registered "securing a running account"--that would be newsworthy.
  • Brad Herd | 01 Feb 2013, 07:04 AM Agree 0
    Welbank -
    For the record, Resmor is now RMG and was purchased by a solid lender named MCAP sometime ago. RMG has some very unique mortgage options as compared with other lenders such as a 35 year amortization and 3% cash back product. I certainly wouldn't call RMG "bottom of the barrel" when less than a handful of lenders have this to offer!
  • MM | 01 Feb 2013, 08:33 AM Agree 0
    Another non-balance sheet lender trying to make a meal out of a snack.
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