Networks to crack down on brokers' side businesses?
The case of a recently deceased mortgage broker who is accused of committing fraud may trigger a shift among broker networks when it comes to allowing its brokers to operate independent MICs.
President of O'Leary Ventures offers explanation
MortgageBrokerNews.ca spoke with the president of O’Leary Ventures who explained the decision behind shutting the doors on O’Leary Mortgages.
Opinion divided following one client's mortgage denial
Opinion seems divided between incredulity and understanding among MortgageBrokerNews.ca readers after one broker’s deal was denied by a lender after disclosing his client’s pregnancy.
2.99 per cent lender revealed
The lender providing the latest 2.99 per cent five-year fixed rate has been revealed and the product, no way resembles, BMO’s controversial “no friller” that captured media headlines two years ago.
The 2.99 per cent five-year fixed is back
The rate that attracted Jim Flaherty’s scorn is back, with at least two mortgage brokers offering a 2.99 per cent five-year fixed rate mortgage.
Experts: Rates to rise
Experts agree mortgage rates will rise over the course of the next month, despite RBC cutting its rates by 10 basis points over the weekend.
Brokers apprehensive about potential B-21
Brokers may not buy into Realtor optimism, with two industry players taking to MortgageBrokerNews.ca’s comments section to air their fears of the impending B-21 guidelines.
Best MBN debate of 2013
The comments section of MortgageBrokerNews.ca provides a soundboard for brokers to critique, lambast or applaud our articles (and, in some cases, fellow commenters). 2013 provided its fair share of heated debate but one particular story about renewal business – and the value brokers can add to win business – stoked the fires and, in some cases, the ire of several opinionated readers.
Broker: Expect tighter underwriting in 2014
One leading industry player foresees tightened mortgage lending regulations in 2014, which may affect the broker industry more than its banker rivals.
Broker: Buydowns have greater effect on broker networks
Rate buy downs affect broker networks more than they do individual brokers, suggests one leading industry player, and 2014 will foster even more of these types of deals as brokers try to compete in an increasingly competitive environment.