Mortgage Broker News announces the winners from the 12th annual Canadian Mortgage Awards in Toronto
You get your morning coffee, turn on your computer and decide to see what is front-page news in the Toronto Sun – and alongside the weather and sports scores on the home page is an advertisement for a mortgage broker.
Saskatchewan brokers are holding their breath on fears the province could see economic growth halved if potash prices sink in the wake of one producer’s move.
First National is looking up with second quarter numbers showing mortgages under administration, revenue and net income all gaining strength, despite lower single-family mortgage originations.
Vancouver Island brokers vividly remember the wasteland that was the mortgage landscape in Victoria, following the tightening of the amortization rules in July of 2012 – the summer of damage control.
The Superintendent of Financial Services for FSCO has issued interim compliance and suspension orders against Ralph Iacono and Mortgage Lenders Ltd., and in a separate notice is also warning clients of Royal Bank not to purchase any products from Sentel Insurance.
CAAMP’s Karen Kinsley Tribute Dinner will be helping further education this year, with the Foundation announcing it will use net proceeds from the dinner to establish scholarships for the next generation of “real estate finance” professionals.
The numbers don’t lie – banks are aggressively seeking out and capturing clients who are looking to renew their mortgage.
MonCana Bank of Canada has been a broker favourite ever since entering the channel – a popularity that perhaps this year will be reflected in CMP’s Brokers on Lenders survey.
Those lenders who are perennially near the top of CMP’s Brokers on Lenders survey maintain their position by listening to and learning from brokers, says one industry veteran.
One broker is hoping that the larger networks forming in the channel will speak loudly and carry a bigger stick – especially to level the playing field against the five big banks.