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Mortgage Broker News | 19 Aug 2015, 08:15 AM Agree 0
A recent lender acquisition has renewed concerns that more amalgamation could be in store, and brokers fear it could be a big bank doing the buying
  • Tony Romano | 19 Aug 2015, 09:38 AM Agree 0
    I believe that if a bank should be allowed to continually buy the competition because they can't do it themselves efficiently, then allow foreign ownership of our banks! Time to put the boots to the cushiony position of these top banks. Competition should be good for EVERYONE, not just the few.
  • Jesse D | 19 Aug 2015, 10:06 AM Agree 0
    Perhaps the banks should invest some of their billions to hire better IT teams so they too can have decent technology. TD Bank still works with fax! WTH!! Luckily on the broker channel FN has helped TD out. Tony, if there was a 'like' icon, I'd click it for your comment. Canada like everywhere needs competition and the government can't be afraid of the big 5 or more so TD and RBC. Cut them down in size and allow some foreign ownership. Make it easier for American lenders to come north if they so choose. The big 5 do not offer the technology, service nor product that is of benefit to the consumer, their clients or potential clients. They just make their share holders happy by making their billions and using advertising to make people believe the Big 5 are where its at.
  • John Martin | 19 Aug 2015, 11:06 AM Agree 0
    Competition and American or any other lenders. Absolutely best thing that could ever happen for all consumers in this country. Coast to coast. But the big banks who control the government and are in bed with them 24/7 will not allow it. Only if the Canadian people rose up and let their voice be heard collectively. Then they would get the politicians ear. Good luck with that one. Even then the banks and their government politician friends would try and do everything humanly possible to NOT allow the good and right thing to happen as mentioned above. That's reality as unfortunate as it is.
  • Walid Hammami | 19 Aug 2015, 12:47 PM Agree 0
    We are taken where the wind blows. We have no control on this thing. We are just a very short sighted industry and we think too small.

    Everything we have right now can be taken away quickly.

    "We lack harmony, cohesion, greatness. It will be our undoing." (modified quote)

    We need a new vision, a new organization that looks for the best interest of the consumer (yes our interests are aligned with the consumer).
  • Ron Butler | 19 Aug 2015, 03:23 PM Agree 0
    Walid, how in the world would a "new organization" be able to adjudicate which financial institution buys what lender? In many cases the government regulator pushes for the sale of one entity to the other (ING) so how will this "new organization" change the ongoing facts of free enterprise? It's very hard to make sense of some of these comments.
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