MERIX Financial’s interest-only mortgage, introduced a year ago, is taking the broker channel by storm because of how neatly it fits into borrowers’ financial lives
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
The firm has taken the broker channel by storm
CEO and broker advises industry players to warn their clients of these potential pitfalls
In the B-20 era, lenders' reliance on property appraisers has skyrocketed—so much so that the latter is having trouble keeping up with demand
Borrowers' struggles intensify as they increasingly gravitate towards unregulated lenders
Not a full month into the latest B-20 regime, one thing has become clear: The mortgage industry's fears about having difficulty qualifying clients weren't unfounded
Home Capital has 'ample liquidity' to redeem debt, CFO says