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
Bozic weighs in on exclusivity agreements
A broker channel lender is endorsing the idea of client exclusivity agreements, arguing the time has come for an industry-wide discussion on those controversial but, perhaps, increasingly necessary contracts.
Broker frustration sparks debate on client exclusivity agreements
Exclusivity agreements: It’s a controversial idea, but one whose time may have come, with IMBA President Albert Collu kicking off an industry dialogue on contracts that would penalize clients for using brokers to get better rates at the banks.
Centum: Broker workshop to focus on consumer debt
Runaway consumer debt: It’s not just the federal government’s concern, but also the focus of a mortgage workshop for brokers – set for Vancouver this fall and focused on ensuring brokers extend their utility beyond the transaction, say sponsors.
Brokers overlooking small private lending deals, says industry veteran
They’re the kind of subprime deals many Ontario brokers have overlooked, said a 35-year veteran of the industry, but brokers willing to connect individual borrowers with individual private investors are positioning themselves for long-term revenue growth.
Gold-buying broker raises concerns
Some brokers fear it may tarnish the industry’s reputation. But a business advertising broker services – at the same it hawks “cash for gold” – is focused on customer service, said the jeweler/mortgage professionals behind it.
Collu: Volume minimums ‘taking brokering out of brokering’
Continued use of volume requirements may undercut efforts to grow efficiency ratios while threatening broker independence, said IMBA’s new president.
Brokers learn about fast-growing Alt-A market at CMP Mortgage Workshop
Brokers prepared to let Alt-A and non-prime clients pass them by may miss out on the market's fastest growing segment, those attending the recently held CMP Mortgage Workshop were told.
Argentum launches private label mortgage with trailer fee
Argentum Mortgage and Finance Corporation launched its own branded mortgage, which features trailer fees.
A Brave New World: How technology is changing the industry
While many have begun to move with technology as it drives businesses forward with new innovations and devices, others have dug in their heels, holding on to a nostalgic idea of an industry that once was. Increasingly, the days of paper applications and fax machines are nearing extinction, and for those who aren’t using today’s technology, they may be too. In this article, Shane Buckingham takes a look at how using the latest tools and technology has changed the industry as a whole and how it has helped those who’ve been able to capitalize on it