Lenders too frequently favour a “black and white” approach to qualifying clients, complain a growing number of frustrated brokers.
Do you know where your dedicated underwriter comes from?
It could in fact make a difference, argues one broker pointing to the benefits of dealing with former employee of a mortgage insurer.
Brokers continue to vent their frustration over securing mortgages for self-employed clients, but are increasingly directing them to write off less of their income, among other successful strategies.
MonCana Bank of Canada has been a broker favourite ever since entering the channel – a popularity that perhaps this year will be reflected in CMP’s Brokers on Lenders survey.
Happy anniversary? It’s been a year since the mortgage rule changes took effect, and brokers have felt the impact not only on their business, but especially their clients.
Calgary deserves some good news – and the latest Genworth Canada report on resale housing is just what the doctor ordered.
U.S. mortgage insurer Genworth Financial announced they are cutting 400 jobs to reduce costs by up to $90 million a year - but those cuts will not be felt north of the border.
CMHC’s balance sheet is now revealing the full impact of Jim Flaherty’s tinkering, although brokers want to know if the scale of that decline also reflects more rigid underwriting.
Canada Guaranty may just have removed another reason for lenders and brokers to send deals to its competitors, with the introduction of a rebate for energy-efficient homes.
CMHC’s bulk insurance fund stood at a virtual standstill last year as the government clawed back on lender access to that portfolio insurance, making it harder for brokers to secure financing for clients.