Bank of Canada monitoring MICs
Mortgage investment corporations (MICs) – lenders that brokers are increasingly turning to – aren’t cause for major concern, according to the deputy governor of the Bank of Canada, but his institution is keeping a close eye on them.
Scotiabank: Market to slow in 2014 but are brokers sold?
Scotiabank has stared into its crystal ball and seen a slow market in 2014 due to interest rate hikes and stunted job growth, though brokers may not be willing to accept the prophecy as gospel.
OSFI head: Low rates creating false sense of security
The head of the federal bank regulator says she remains concerned that low interest rates are lulling Canadians into a false sense of security – her comments suggesting OSFI could still ratchet down already-tight underwriting.
Brokers blame busy August for slow September
September is traditionally a busy month for brokers, but summer’s end has been slow for some following a busy August that saw rate-holders flood the market.
Banks' Beacon system produces higher scores?
Brokers are hungry for a credit rating system that many banks use and where Beacon scores appear to be trending higher.
YTD sales increase in seven markets
August stats from the Canadian Real Estate Association (CREA) reveal sales in many major markets are up year over year, with brokers in the Yukon, British Columbia and Alberta having the most cause to celebrate.
Brokers bolster credibility in the media
Leading brokers regularly featured in the Toronto media suggest that with that exposure comes an obligation to bolster personal and industry credibility with straight talk focused on objective advice and avoiding unnecessary hype.
Brokers warn against dual licensing
Brokers offering a cautionary note about dual licensing after one such industry player had his broker license suspended for five years.
Brokers share thoughts on business growth
For a new broker, the hardest part may be branching outside the pool of friends and family to reach a larger client base – but coming from an industry known for its social aspect surely helps.
REMIC makes MBLAA recommendations
The Real Estate and Mortgage Institute of Canada (REMIC) has now delivered the recommendations of a 1,000 brokers to the man responsible for leading the review of Ontario’s MBLAA, with concerns about a potential double-standard high on the list.