A score to settle You’d be surprised what they’re using your credit score for.

by David Hodges  In his 13 years as an insurance broker Bryan Yetman has regularly witnessed the havoc credit scores wreak on consumers. No case, however, unsettled the past president of the Insurance Brokers Association of Ontario (IBAO) more than that of a woman diagnosed with breast cancer while in the midst of a divorce a […]

FSCO frustrated by unlawful advertising – Consult with a Vancouver Mortgage Broker

Too many unlicensed brokers and not enough resources has FSCO frustrated with the deluge of public complaints over illegal mortgage brokering advertisements.   “The guys who post the signs on the street posts, under the street lamps, they are preying on people in dire financial situations,” says Bhan Persaud, the senior licensing approvals officer with […]

Pros and cons of a mortgage broker

When Chris Vale and his wife Keli Hines bought a home in Oshawa, they arranged a mortgage through an in-house firm their real estate agent’s company had. “We were told, ‘Here’s the rate and here’s what you pay,’ ” Vale recalls of the transaction, which took place several years ago. Then Vale met mortgage broker […]

Ontario broker lobbies for tighter ‘mortgage suitability’ regs

By Vernon Clement Jones The head of a large Ontario brokerage – and VP of the province’s mortgage broker association, IMBA – is lobbying for “better-defined” guidelines around “mortgage suitability” in the governing act, arguing it would help fend off competition from the banks. “It’s something that’s much talked about among brokers, many of who […]