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Mortgage Broker News | 11 Aug 2011, 03:09 PM Agree 0
With an originations slowdown sending brokers scrambling to diversify their portfolios, a top Ontario player is arguing “niche” brokering may actually be the best way forward.
  • Art Connor....Mortgage Centre Owen Sound | 12 Aug 2011, 03:05 AM Agree 0
    Equity Lending is a necessity of life..unfortunately most institutional lenders havent quite accepted this as good business practice, typical underwriting guidelines put up obstacles,,IE location of property, appraisal guidlines,self employment criteria etc, etc

    In my opimion they are missing out on the most profitable type of business they could book..Borrowers in this category are not rate sensitive and are appreciative of the brokers effort..We need a simple equity product with tiered pricing based on credit score and property type.. any recent appraisal (CRA or AACI) and a broker inspection report IE pictures and a copy of the current property tax statement is enough for private lenders
  • Greg Williamson | 12 Aug 2011, 03:58 AM Agree 0
    Interesting take an what brokers need to succeed or at least sustain going into the uncertain future. I agree that exploiting an underserved niche is an excellent strategy. However, I caution big time having only ONE niche as this article suggests for Dave. I want to have several powerful niches so that if something happens to change the game, and it seems that always happen, then my overall business is safer.
  • Kyle Green | 12 Aug 2011, 04:21 AM Agree 0
    Good topic.
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