Broker Channel Market Share – Q3- Ask a Vancouver Mortgage Broker

It seems that more power is being concentrated in the hands of fewer lenders. The mortgage broker channel’s top 10 lenders accounted for 85.6% of its volumes last quarter, according to data from D+H. That’s the highest level since we started tracking D+H market share reports in 2010. It’s against that backdrop that we see a micro trend taking […]

Broker Lender Applies for Bank Charter – Need real estate financing – find a Vancouver mortgage broker

Broker Lender Applies for Bank Charter Within a few years, you may have another option when it comes to banking. The fourth-largest broker channel lender by market share, Street Capital, has made public its intention to become a licensed bank. So not only will the company offer real estate financing, but also traditional banking products. […]

Subprime Mortgage Renewal Risk

Subprime mortgages are meant to be short-term financing solutions for borrowers who have hit a rough patch. When you get a subprime (aka,“B”) mortgage, the idea is to choose a term that’s just long enough to rehabilitate your credit (or fix the problem that makes you a high risk borrower). Thereafter, you can refinance into […]

The State of Stated Income

Canada has 2.67 million self-employed citizens, about 15% of the work force, says CAAMP. Due to how they report income and deduct expenses, these individuals are frequently reliant on stated income mortgages. A few weeks back, Bloomberg quoted Canada’s bank regulator, OSFI, as saying stated income mortgages “have some similarities to non-prime loans in the U.S.” Just weeks before that, CMHC announced limits on bulk mortgage insurance, which […]