RBC now raises special fixed rate
RBC is one again leading the push to higher fixed rates, taking its “special” 5 year rate to a hefty 3.69 per cent, effective Wednesday.
Big banks increase special discounted rates
Interest rates continue to go up – and this time, it is Scotiabank and RBC following TD Canada Trust by announcing increases to special discounted rates.
Time to fight back on penalties, says broker
One broker has decided that enough is enough, and that it is time for brokers to fight back.
Brokers hold breath as monolines follow big banks
As the big banks increase their fixed rates, monolines like MCAP and First National are following suit – eliminating any breathing room for brokers already trimming commissions to accommodate clients.
CAAMP pushes Ottawa to leave ABCPs alone
Following the last federal budget, those dealing in Asset Backed Commercial Paper have held their breath over the government’s move to limit housing risk, but CAAMP remains hopeful Ottawa is open to compromise.
More than a numbers game
Mortgage Architects is looking beyond volume, beyond numbers, says CEO Ron Swift, shared his calculations with CMP’s Donald Horne
MCAP, brokers pay it forward in New Orleans
A trip to New Orleans usually means partying in the French Quarter and Mardi Gras – but for brokers attending MCAP’s Habitat for Humanity summit this week, it was about paying it forward.
Sale of Xceed ‘positive for brokers,’ says CEO
Concerns among brokers that Xceed will go the way of ING and FirstLine following MCAN’s announced takeover can be put to rest, says CEO Michael Jones.
Brokers want firewall around designated underwriting
RMG’s recent move to a more centralized underwriting service may be a sign of the times, say brokers, but they’re generally more concerned with protecting the designated underwriting service they see as crucial to maintaining efficiency.
MCAN to buy Xceed Mortgage
A major Canadian portfolio MIC will soon have CMHC origination access, announcing its takeover of Xceed Mortgage yesterday.