IRD calculators gaining popularity
Brokers can warn clients about the pitfalls of IRDs and penalties, but it is a bit like leading a horse to water.
Lender aims to take the pain out of penalties
It is a familiar story – a client looking to refinance, but facing a prohibitively high penalty.
Still, Bruce Schoenne of PayLessPenalty.com has a solution, one some brokers may say sounds too good to be true.
Broker: clients need 24 hours to read fine print
If a home is the biggest purchase clients will ever make, they should at least be given a chance to read the documents they’re asked to sign, says one industry veteran, pegging that interval at 24 hours.
Brokers as much to blame as banks?
A MortgageBrokerNews.ca article detailing one man’s battle with TD over a $17,000 mortgage penalty generated a maelstrom of comments and criticism not only for lenders, but brokers.
Brokers to FSCO: breathe new life into AIR
Nobody likes homework, and the Annual Information Return can seem very much like it for principal brokers in Ontario, now facing a $1,000 fine if they fail to hand in that assignment before April 1.
Client uses Twitter to challenge TD mortgage
Before social media, if your clients had a beef with the bank, you basically complained to the lender and they to their friends, and that is where it would end.
It's the best and worst of times for brokers
It may be a challenging time for brokers, but it's also a good one, say players pointing to lenders dropping rates and networks sweetening the deal for their members.
Another blow to commissions?
Numbers from Teranet-National Bank show a fifth consecutive month of decline for home prices nationwide -- arguably another blow to broker commissions.
Hope springs eternal for brokers facing slow winter
New home sales in the GTA are down 8.3 per cent for the first half of February compared to 2012, but brokers are looking ahead to the spring for a rebound.
ING departure teaches hard lesson, say brokers
Now that ING has officially left the channel, brokers remember a company that was great to work with – but also one that has taught them a valuable lesson.