Residential appraisers in short supply because of 'oligopsony'
Demand for residential property appraisers has swelled since January 1 because lenders are sensitive to B-20, however, it's revealed a glaring shortage of people willing to do a job that remunerates poorly
Appraiser shortage becoming headache for lenders
In the B-20 era, lenders' reliance on property appraisers has skyrocketed—so much so that the latter is having trouble keeping up with demand
Many brokers plan on hiring freeze
Many brokers across Canada have decided not to hire new staff for the next 12 months but for some hiring an extra hand may provide the edge needed to grow the business in a particular market.
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
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.