Mortgage Alliance news

  • Brokers turn to buydowns in slow market

    One broker is getting candid about rate buy downs, offering 2.89 per cent on five-year fixed to any client who qualifies and arguing a slowing market has mandated the move.

  • CAAMP director answers criticism of board makeup

    One of only a handful of active brokers on CAAMP’s board of directors is chalking up the limited representation to name recognition challenges and brokers themselves – often reluctance to take time away from their businesses.

  • Brokers: Lenders, cut us some slack

    A seasoned broker is encouraging channel lenders to relax their minimum volume requirements in the short-term, a way of helping an industry struggling to maintain originations even as the Canadian market cools.

  • Ad increase bolsters network's book

    A national broker network is crediting a 20 per cent jump in its advertising budget for a double-digit spike in business – even as new home sales slip.

  • Going exclusive

    Mortgage professionals say they’ve had enough of clients going to the bank, with broker commitment letters in hand. As Vernon Clement Jones finds out, a growing number are thinking exclusivity agreements will stop them in their tracks

  • 'Escalating lender incentives' for Realtors troubling, say brokers

    The apparent escalation of lender incentives for Realtors is raising broker concerns around disclosure and the potential dangers for clients.

  • Broker: Time for channel to help subprime orphans

    Broker channel associations and lenders must lobby government on behalf of homeowners effectively orphaned by fleeing subprime lenders and blocked from switching to A lenders because of the new refi rules, said a mortgage professional grappling to keep borrowers in their homes.

  • MAC 'Super App' expands lending options

    Mortgage Alliance is making it easier for brokers to access lenders, with the launch of a new “Super App” module for its MortgageBOSS. The one-step program allows brokers to input application details, electronically canvass top broker lenders for “the best fit” and, with the push of a button, send it off to one of those lenders.

  • Broker: Never, ever buy down rate

    He’s increasingly an anomaly, but a veteran broker who has never bought down rate is admonishing the growing number of mortgage professionals now relying on that retention strategy, suggesting it only delays the inevitable.

  • Broker channel lenders balk at hotel-condos

    An agent looking to use Toronto’s growing condo-hotel market to carve out a niche for himself is finding a dearth of channel lenders willing to write mortgages on those suites, which spend most of their time in a rental pool.