Stingy – that’s how brokers may characterize the 10 bps drop by banks yesterday, and leaving the door open to monolines.
Broker dismisses “shadow” lending talk as “nonsense”.
What effect will one major mortgage insurer’s new guidelines have for brokers and their clients?
Say it ain’t so – a new CAAMP report suggests bank reps are just as good at converting first time homebuyers into clients.
Believe it or not, lenders are working overtime to outdo each other with increases to broker compensation in a market so often compared to Canada’s.
In the final part of his two-part series, one leading broker explains the buydown component of his renewal conversion process.
It may be a controversial tactic, but one leading broker has established a rate buydown system specifically tailored to switching lenders at renewal. Dustan Woodhouse of Dominion Lending Centres explains.
When it comes to their best rate, big banks can play coy. And one broker has developed a strategy to force banks to reveal their dishonesty to potential clients.
Brokers have reported an increase in inquiries from clients since the Bank of Canada rate change, which has provided an opportunity for industry players to extoll the benefits of working with a mortgage broker – and explain the fine print on mortgage documents that many bankers may overlook.
A major broker gripe about a big bank mortgage policy has finally been addressed by Finance Minister Joe Oliver and more transparency about the practice is forthcoming.