Brokers: banks now eating penalties to retain clients
There’s competition and then there’s competition with the Big Five, as a handful of Vancouver brokers point to banks and, even, credit unions now willing to eat their own substantial penalties in order to keep clients from going over to the broker channel.
Brokers welcome freeze on mortgage rule changes
Finance Minister Jim Flaherty is offering brokers a respite from any new mortgage rule changes like those introduced in March, suggesting he’s happy with slowing demand stemming from those spring amendments.
Broker: ‘Habitual refinancers’ facing forced listings
There's strong indication new mortgage rules have begun to cull the number of “habitual refinancers” said one 20-year veteran of the broker industry, suggesting a spike in the number of forced listings should soon follow.
Prince George brokers defy CMHC projections
Brokers in sleepy little Prince George say they’re poised to significantly better originations this year even as their big-city counterparts in Vancouver enter a slowdown and the CMHC forecasts an 8 per cent sales slide for the northern hub.
Broker: We’ve gained market share, not lost it!
Buck up, brokers. By one industry veteran’s calculations, the channel has actually gained – not lost – key market share in the difficult years following the subprime collapse.
Winners announced at 2011 Canadian Mortgage Awards
Winners at the 2011 Canadian Mortgage Awards cut a wide swath across the industry, with Albertans leading the charge against Ontario dominance at the ICICI Bank-sponsored event.
Canadian Mortgage Awards winners set to be announced
The votes are in and now it’s only two days until the winners of the 2011 Canadian Mortgage Awards, sponsored by ICICI Bank, are announced.
Brokers disagree with poll suggesting young homebuyers deferring purchase
More than half of young potential homebuyers in Canada think they are better off waiting until next year, according to a new survey, effectively contradicting broker observations.
MCAP going after the Big Five
Mortgage lender MCAP is taking direct aim at the big banks, with bonuses for brokers bringing in clients who would otherwise renew or refinance with the Big Five.
Broker Network of the Year finalists announced
This year’s Canadian Mortgage Awards will have some added excitement as the Mortgage Broker Network of the Year will be presented for the first time.