Healthy debate ensued among brokers, following a story about one big bank’s IRD calculations and the penalties in charges, with several calling into question the transparency provided by some lenders.
A recent Bank of Canada announcement has dredged up an age-old debate but is it one that should finally be put to bed?
Broker opinion is split -- following news that CMHC is considering banks to pay a deductible before mortgage claims are paid out – with some believing the move will lead to more careful underwriting and others thinking it could result in higher fees for clients.
Canadian brokers don’t buy the premise that a move from an up-front commission-based structure to a fee-based model will result in better loan quality.
One leading broker is accusing a competitor of using his name to attain leads through Google’s ad services.
Will there be a rate fluctuation in the next 30-45 days? It depends who you ask.
One leading broker has echoed the same sentiments of some of Canada’s largest broker networks: it is a lender’s products – and not it’s affiliation with one particular network – that will determine broker opinion.
When it comes to advising clients on controversial mortgage products it’s best to leave the final decision with the client, say two leading mortgage brokers.
Opinion among brokers was divided about Investors Group’s recent rate promotion and just how good a deal it was for customers. We wanted cold, hard numbers, though, so we asked our readers how many were able to convert client inquiries into funded deals. Read on for the results.
Tightened lending regulations have made it tougher to fund deals but brokers are best served to put their noses to grindstone and work harder to find the right mortgage for their clients, according to two players.