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Mortgage Broker News | 16 Jan 2013, 12:00 AM Agree 0
While brokers have their eye on a falling number of sales, in Vancouver they’re now ogling falling prices and the threat they could pose subprime deals.
  • Paul Therien - CENTUM | 17 Jan 2013, 05:38 AM Agree 0
    I think that brokers have an opportunity to really step up to the plate and show Canadians that we provide a high value service, and one that is not rate driven...

    We all see the news and we all experience the uncertainty ourselves... but brokers are the experts, people who live and breathe this industry. Imagine how the average Canadian must feel as they are bombarded with this constant doom and gloom messaging from the media?

    The Canadian consumer, now more than ever, needs sound advice on how to navigate these difficult times. We have an opportunity to step up and become strong consumer advocates who provide solutions so that Canadians can achieve their financial and homeownership goals. It is up to brokers… do we sit quietly in the corner and lament the good old days, or do we step up to the plate and give consumers comfort provide meaningful value?
  • Paolo Di Petta | | 17 Jan 2013, 07:08 AM Agree 0
    Well said, Paul.

    I would also like to mention that not all "subprime" deals are alike. As long as there's enough of a buffer in the original LTV and the property is still marketable, the deals can be pretty safe.

    In fact, I'd be more worried if I were like banks doing those insane low down payment, long amortization, cash back mortgages they were doing a few years ago. Those are a much bigger risk than most of the private "subprime" deals I work on.
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