Marijuana man losing mortgage a good lesson for clients, say brokers
A licensed medical marijuana grower who had his mortgage pulled by Scotiabank is a good lesson for clients who do unauthorized renovations, say brokers.
‘Micro branches’ for BMO
The Bank of Montreal is testing so-called micro branches in high-density urban areas, with a small staff able to provide mortgages among other services -- an old idea that may skirt concerns about the banks.
CRA clampdown highlights broker value-add
The recent Canada Revenue Agency interest in people claiming their condos as homes instead of investment properties is long overdue, says one mortgage broker, also suggesting the crackdown illustrates the role brokers can play.
Not all clients are created equal…
So why are brokers treating all of them that way, asks top broker Calum Ross, detailing his strategy for segmenting clients to form a more perfect and profitable union
The Big Story: Lead generation tuneup
All brokers make a claim to have the best lead-generation strategy going, but many could use a spring tuneup, according to experts Claire Drage of The Lion's Share Group and Calum Ross of Calum Ross Mortgage.
Big banks are abusing their power
One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following BMO’s announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust.
Calum Ross takes on rate sites
There's nothing inherently wrong with rate sites, says top-performer Calum Ross, but they may obscure the other, arguably better ways a professional brokers can save clients money.
To be or not to BDM
As brokers grapple with a slowing market, many are finding relationships with BDMs are also in flux. As Vernon Clement Jones finds out, that may be by design
Top Broker: BDMs must evolve into 'educators'
The head of CMP’s “Mortgage Brokerage of the Year” is urging BDMs to embrace an expanded role as educators, a way of increasing their utility to mortgage professionals, looking to grow their own usefulness to clients.
Broker: Time to give BDMs approval power
A leading Toronto broker is asking lenders to consider returning limited approval power to BDMs, at the same time making those front-line reps more accountable for their underwriting decisions.