While brokers doubt the ability of Canada’s independent mortgage insurers to pick up the slack if the government downsizes CMHC’s mandate, they’re much more certain about the kind of effect that move would have on their business.
CMHC increased its risk fee to 3.25 per cent last week and one broker believes Canada’s independent insurers – and the brokers who deal with them – are poised to take advantage.
CMHC has now moved to reassure broker networks that new and controversial "risk fees" pose no threat to mortgage funding -- that despite growing fears.
Globe & Mail sources report that Genworth and Canada Guaranty are encouraging the Canadian government to raise CMHC premiums. What effect will this have on clients and the brokering industry as a whole? Not much, says one player.
It’s a match made in housing heaven, as a leading mortgage insurer and Habitat for Humanity team up to raise money for communities across Canada.
Company conferences can be long and drab, but when done right – as was the case at this summer’s Mortgage Architects national conference – they can provide a fun and engaging platform for employees to mingle and learn.
Another independent lender, CMLS Financial, has been approved to offer residential CMHC-backed mortgages in Canada, according to a press release from the company.
Meadowbrook Golf and country club will play host to the sixth-annual Ontario Women’s Mortgage Industry Golf tournament on September 16 and the event is already sold out.
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.