Brokers preparing to-do lists for FSCO
This week’s appointment of parliamentary assistant Steven Del Duca to oversee a five-year review of Ontario’s Mortgage Brokers Act has already spawned a slew of broker wish lists for what could and should be tweaked to better the industry.
The new $100K ceiling...
It’s now the unspoken rule of A lenders, charge brokers: BFS clients declaring income north of $100K are quite simply persona non-grata.
Will brokers and Realtors ever agree?
Brokers and Realtors are divided once again, this time over what if any impact a new plan to reduce Toronto’s land transfer tax will have on a slow real estate market.
Renewal time for brokers?
Counsel Corporation has seen its stock price double in less than a year – success that could be worth some attention by mortgage brokers, who are more focused on new volume than renewals.
RBC now raises special fixed rate
RBC is one again leading the push to higher fixed rates, taking its “special” 5 year rate to a hefty 3.69 per cent, effective Wednesday.
In-house referral partnership brings quality referrals
Brokers need to look beyond realtors when cultivating referral sources, says one broker, who is getting quality referrals from a financial planner.
Allow more lenders access to shadow banking, urges broker
Any move to help develop the shadow banking sector by the Bank of Canada would be welcome news for the industry, says one mortgage broker.
GTA clients need to be aware of dev fees, say brokers
A new Toronto report recommending hefty increases in property development charges is underlining the need to have a lawyer review pre-construction agreements prior to signing, says one Toronto broker.
Online calculators, mobile searches gain popularity
The 2013 CMHC Consumer survey reinforces the idea consumers are increasingly reaching for the Internet, but also suggests they’re reaching for mortgage brokers although not always to close the deal.
CMHC insuring practices unaffected by flood risk
Flooding may be making home insurance difficult to obtain, but one broker in perennially waterlogged Brandon, Manitoba hasn’t had any issues with Canada Mortgage Housing Corporation insuring mortgages.