FirstLine deals a blow to CIBC profits
CIBC’s decision to limit broker originations to its own network following the closure of FirstLine is now reflected in its bottom line, specifically its Q1 results.
Brokers as much to blame as banks?
A MortgageBrokerNews.ca article detailing one man’s battle with TD over a $17,000 mortgage penalty generated a maelstrom of comments and criticism not only for lenders, but brokers.
ING departure teaches hard lesson, say brokers
Now that ING has officially left the channel, brokers remember a company that was great to work with – but also one that has taught them a valuable lesson.
10-year fixed increasingly easy and lucrative sell for brokers
Scotia has joined other lenders in presenting a special offer on 10-year fixed mortgages, widening the smiles on brokers now facing a surge in clients interested in longer terms as a hedge against the eventual spike in rates.
'ING brokers,' you have company
ING brokers in Canada meet ING brokers in the UK, now feeling your pain as they learn of their own departing lender.
Luxton: We're 'commited' to help workers transition
ING Direct – and, indeed, Scotia -- is actively working to find placements within the two organizations for workers affected by the coming exit, says an exec now deluged with broker well-wishes.
Brokers: ING spoils up for grabs
It’s no dead certainty brokers will divert ING deals to Scotia, in fact, argue some, the spoils could go to monolines able to duplicate the lender’s star offerings.
ING Direct moving to cease broker originations
For some brokers, it reads like a "Dear John" letter, but on Wednesday, ING Direct announced it will cease accepting new applications from brokers on Feb. 16, at the same time recommending its new parent company Scotia to mortgage professionals.
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Cordial competitor: MCC's Cocciollo weighs in
Save the hum-bug! MCC head Eddy Cocciollo is offering conciliatory cheer in this candid Q&A about competitors, consumers and, ahem, CIBC