Online rate sites have called the death knell for the broker channel – but brokers are turning the tables and using the Internet to their own advantage
Brokers have long argued the barrier to entry for the industry is too low, and the Home Trust suspension of 45 brokers is further proof that a more stringent licensing process is required.
It’s a tactic that lenders – and their underwriters – may not be too keen to implement, but one broker is suggesting his lender partners take a page out of the bank playbook.
Broker networks are recognizing that online engagement is resonating with clients, with a focus on creating personal relationships – and they are becoming more proactive in that engagement.
Tightened guidelines may be encouraging some mortgage professionals to take shortcuts, but that is no excuse say industry players reacting to Home Capital's move to suspend ties with several brokers
One superbroker has published an article that may help turn rate shoppers into ‘service shoppers’ – and convert bank clients to broker clients
Now may be the time for your clients to strike, with one big bank arguing mortgage rates are as low as they will go.
The current economic climate is expected to draw a number of one type of client, but it isn’t the kind brokers will cash in on.
Misguided information is causing an increase in the number of rate shoppers who aren’t quite sure what to make of the recent Bank of Canada rate cut, according to industry players.
Renewed frustration around lender penalties have forced one broker to make a FSCO complaint, but is it really time for Canada-wide regulation?