(Tie) RMG Mortgages, Marathon Mortgage Corp.

(Tie) First National, CMLS

(Tie) MERIX/Lendwise, RFA Bank of Canada


(Tie) Equitable Bank, Hosper Mortgage, Community Trust

(Tie) Haventree Bank, ICICI

(Tie) CWB Optimum Mortgage, BlueShore Pacifica

Even after almost three years since B-20 guidelines were updated, more than half of brokers surveyed this year say the stress test is still negatively impacting their busi-ness. Interest rates’ fall from the third best- performing category last year to seventh best this year suggests that brokers are intensely focused on rates right now.

The concern was apparent in brokers’ feedback about the biggest issue they’ve had with their lenders over the past year. “Rates fluctuate, sometimes on a daily basis,” one broker said, adding, “I have lost four deals since January due to non-competitive rates offered through the broker channel.” Another bemoaned the “rapid changes in rates due to the pandemic.”

Even so, it wasn’t all bleak. Simplifying rates, allowing f loat-downs and finding ways to provide competitive rates against all odds were among the positive experiences brokers have had with lenders this year.

RMG and Marathon took top honours in this category among the A lenders, trailed by First National and CMLS with silver and MERIX/Lendwise and RFA Bank of Canada with bronze. For the alternative lenders, Equitable Bank, Hosper Mortgage and Community Trust all tied for gold, while Haventree Bank and ICICI shared silver, and CWB Optimum Mortgage and BlueShore Pacifica took bronze.