Cashback Down Payments set to meet their Maker- See A Trusted Mortgage Broker

Cashback Down Payments set to meet their Maker New information suggests that mortgages with cashback down payments could go the way of the dodo, or Yanghzee pink river dolphin if you will. Just about every trusted mortgage broker in Vancouver has been advising against cashback mortgages for some time, but only in the last few years has […]

Another Entrant Joins the Residential Mortgage Space

Another Entrant Joins the Residential Mortgage Space Even in the midst of a slowdown in Canadian mortgage growth, startups continue being attracted to the residential mortgage space in Canada. Among the newest group of entrants, we find CMLS Financial Ltd.; the company will launch a lending channel for residential mortgages in the early part of […]

Hows your Mortgage War Chest?

Hows your Mortgage War Chest? Would you walk a tightrope without a net? Skydive without a quality parachute? Rock climb without a harness? Then why do so many people go into a mortgage without emergency funds? Any honest mortgage broker will tell you this is a bad idea. It’s a metaphorical extreme sport if you […]

ING Sold to Scotia – current customers with low mortgage rates should remain unaffected.

  ING Sold toScotia This shouldn’t come as a shock to spectators of the mortgage market, but ING Direct now has a buyer. If everything falls into place, Scotia Bank will buy ING Direct to the tune of $3.1 billion. Note that current customers with low mortgage rates should remain unaffected. Obviously, the deal must […]

To Buy or not to Buy, that’s a Pretty Big Question (part 1)

To Buy or not to Buy, that’s a Pretty Big Question (part 1) This is part 1 of a 2 part series on down-payments for first-time buyers. A recent survey from TD Canada Trust indicated that 60% of recent homebuyers were not pleased with their down payment. A larger down-payment benefits the buyer in a […]

Online Marketing for Brokers – New Broker Rankings Indicate Trend

New Broker Rankings Indicate Trend Broker rankings for 2011 were recently released by CMP. As is typical, most of the industry’s brokers (including many Vancouver mortgage brokers) have been left out; many simply aren’t willing to submit their deals to the survey. Regardless of the exclusions, it does provide some insight into the brokerages of […]

Vancouver Mortgage Broker Compensation Cut by First National

Vancouver Mortgage Broker Compensation Cut by First National Lender margins continue to decrease in today’s marketplace. This is apparent when we look at the actions of large lenders such as First National, which recently reduced commissions. In the recent change, finder’s fees for brokers were reduced for all terms by 4% to 10%. A popular […]

How to Take Advantage of Readvanceable Mortgages

How to Take Advantage of Readvanceable Mortgages Back in the year 1999, Warner Bros. released a motion picture called, “The Matrix”. The film proceeded to meet critical acclaim for being innovative and forward thinking. It was a game changer as far as filming style was concerned. If you’ll bear with me for a minute, there […]

Mortgage Zombies?

According to Moolala author Bruce Sellery, going back to your bank for a mortgage, primarily because you’ve been a customer “forever,” is “zombie behaviour.” Sellery made the comments during a Lang & O’Leary Exchange appearance Monday. “A lot of people would say it’s loyalty. I would say it’s lazy,” he adds. Sellery offered up this guidance on picking your next […]

Why Your Trusted Mortgage Broker in Vancouver May Recommend a Shorter Amortization Period

Why Your Trusted Mortgage Broker in Vancouver May Recommend a Shorter Amortization Period Before new rules decreased the maximum amortization period on default insured mortgages from 30 years to 25, (and maybe surprisingly), there were still people choosing amortization periods less than the newly mandated maximum. While attitudes regarding homeownership have changed over the last […]

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