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 […]

IRD Penalties on FirstLine Vancouver Home Mortgages

IRD Penalties on FirstLine Vancouver Home Mortgages The following information may be helpful for individuals holding Vancouver home mortgages through FirstLine. FirstLine Mortgages is a subsidiary of CIBC which stopped accepting mortgage applications as of July 31, 2012. According to CIBC, parties who currently have mortgages with FirstLine will not be affected by this change. […]

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 […]

HELOC Countdown Begins

Those interested in a readvanceable mortgage (or HELOC), valued between 66% and 80% of their home’s value had best act with haste. Lending limits for home equity lines of credit (HELOCs) could start falling as soon as the end of August, according to some new information. A trusted mortgage broker in Vancouver can help provide […]

New investment hot spots emerge

Two B.C. cities are tops on a list of Canada’s investment hot spots, according to a recent report from Business Review Canada. The review broke down Canada’s regional economies by province, and then dug deeper to find emerging markets in small to mid-size communities ripe with opportunity for investors. When the dust had settled, the […]

ING Direct Canada May be Sold- What will happen to Vancouver Home Mortgages Underwritten by ING?

ING Direct Canada May be Sold According to some sources, ING Direct Canada (ING), the top ranking online bank brand in the country may be up for sale. The question for many people in British Columbia has become, what will happen to Vancouver home mortgages underwritten by ING? This potential sale is not due to […]

Ask a Vancouver Mortgage Broker for Latest Insurance Trends

Mortgage Insurance Trends For those interested in how the mortgage industry works, you could always ask a Vancouver mortgage broker. Otherwise, you might want to check out the quarterly reports and earnings calls for Genworth MI Canada. According to Genworth, new government restrictions will have an impact on the mortgage insurance market; the market will […]

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 […]

Mortgage Platform Down

Mortgage Platform Causes Problems for Vancouver Home Mortgages For several days last week, there was no way for thousands of brokers to send applications to lenders. This affected brokers across Canada including those dealing in Vancouver home mortgages. This resulted because the mortgage industry’s largest mortgage origination platform temporarily went down; the platform is called, “Expert”. This […]

CICA Debt Poll

CICA Determined to Become Expert in Personal Finance A study was recently commissioned by the Canadian Institute of Chartered Accountants (CICA)  to learn what Canadians do on a day-to-day basis to manage their finances. The study also wanted to  understand how much confidence Canadians have in particular financial activities.  The purpose was to determine how […]

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