Making dreams come true
MortgageBrokerNews is continuing its series of features on the finalists for Broker of the Year in both categories -- the under 25 employees and the 25 and over. This year’s group is the most diverse, spanning the country. Winners in both categories will be named at the upcoming Canadian Mortgage Awards on May 10 at the Liberty Grand in Toronto.
Kinsley confirms departure from CMHC
The worst-kept secret in the channel is official – Karen Kinsley is stepping down as president and CEO of Canada Mortgage and Housing Corporation.
Brokers pleased with Poloz as BoC governor
Brokers are giving a thumbs-up to the appointment of Stephen Poloz as Canada’s next governor of the Bank of Canada.
Storefront brokerages an expensive lesson
One broker remembers the expensive lesson learned by brokers a few years ago in opening storefront locations in high traffic retail centres, and sees the BMO micro-branch model succeeding if costs can be controlled.
CAAMP pushes Ottawa to leave ABCPs alone
Following the last federal budget, those dealing in Asset Backed Commercial Paper have held their breath over the government’s move to limit housing risk, but CAAMP remains hopeful Ottawa is open to compromise.
REDX addresses AMP questions
The company behind REDX is now answering a question CAAMP has been slow to, asserting the association does not directly file incident reports on brokers who drop the AMP designation.
Brokers erring on the side of caution at tax time
Has Canada Revenue put the fear of God into brokers? Well, at least the fear of an audit, if the latest MortgageBrokerNews poll is any indication.
Lenders should offer LEMs, says broker
The popularity and success of Location Efficient Mortgages in the United States could be applied to major urban centres like Toronto, says one broker, and lenders north of the border could easily include it as one of their mortgage products
Network head raises concerns about REDX, AMP
No one less than a network head is warning mortgage professionals across the country after finding four REDX reports attached to his own name, specifically tied to his AMP designation.
Tourloukis: Refi rule strands 'collateral' clients
Moving clients with high-ratio collateral mortgages is now virtually impossible given Flaherty’s mortgage rules changes, says one of Canada’s highest volume brokers, pointing to lender interpretation of refinancing limits.