OSFI to consult public before making changes
OSFI has held off on further tweaks to underwriting rules, but amid speculation that it may soon spring into action, one representative has assured MortgageBrokerNews.ca the public – including brokers – will be allowed their say.
Overnight rate remains unchanged
In a statement issued Wednesday, the Bank of Canada announced it will keep the overnight interest rate at one per cent -- extending the three year trend of low prime interest rates -- and expect it to remain steady until 2015.
Female brokers build homes for needy
Habitat for Humanity’s “Women build” takes place over 11 days as 1,000 women -- including several from Verico Premier Mortgage Centre – do their part to build homes for the less fortunate.
Regina's most engaging tweeter shares his tips
The man who got his start as a broker’s consigliere (minus the Mafioso connotation), has now been voted the most engaging person on Twitter in his province – and what he attributes his success to may surprise you and help you pick business.
CMP Brokers on Lenders teaser
Early results from CMP’s Brokers on Lenders survey prove that with the ever-tightening underwriting, brokers are having to rely more and more on Alt-A and B deals as fewer clients now qualify for prime.
Brokers buried by paperwork
Mortgage professionals are increasingly having to spend more time with a file before submission in order to clear the rising hurdle of due diligence and avoid the kind of back-and-forth with a lender that frustrates borrowers.
Broker wins channel national media attention
Brokers: You may want to thank one of your own for giving your industry a significant plug in Canada’s largest newspaper.
Brokers can brag no longer
Gone are the days when brokers could truthfully brag about having access to 40 or more lenders, argue some industry vets, suggesting lender losses have whittled down that number considerably – along with the diversity of the product, itself.
Lender mergers: Good or bad?
Brokers are feeling uneasy with the number of mergers taking place in the industry recently, voicing concerns that a shrinking pool of lenders may nullify their competitive advantage.
Broker: Don't get too excited about arrears rate decline
As Canadian arrears rates drop, is it time for the government to back off? Not necessarily, says one leading broker.