In the current lending environment, the alternative sector needs to step up to the plate
Foreign crime elements are estimated to be laundering as much as $100 billion per year through B.C. real estate
Nearly 9 out of 10 real estate development firms use at least one alternative financing source
As the lender's influence grows, brokers remain top of mind
Market share of private lenders is eating up the originations of traditional lenders
Competition in the alternative channel just became stiffer
Bank of Canada to expand the range of in-house stress testing to include smaller lenders and mortgage insurers
Given the option, most brokers understandably prefer the prime space, but as B-20 has rendered it prohibitive for a great many borrowers, they’re in search of solutions
Brokers will also augment their funding ratios
Bank is still expecting to purchase up to $392 million in problematic loans by the end of Q2 2018
Brokers could be in for a rude awakening