MBRCC’s New Tool for Interprovincial Brokering

MBRCC’s New Tool for Interprovincial Brokering For mortgage brokers without face-to-face business models, the Internet makes it easy to close mortgages in another province. And a lot of brokers are doing just that, but not always legally. That’s partly why the Mortgage Broker Regulator’s Council of Canada (MBRCC) put out this new tool. They call it the Multijurisdictional […]

Strategic Matches – A New Way to Place Private Mortgages – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com Have you ever seen a cool new idea and wondered how on earth it took so long to come up with it? One such idea, at least in this author’s mind, is matching private lenders withnon-prime borrowers online. And a start-up called Strategic Matches is now doing just that. Strategic Matches simplifies […]

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 […]

Mortgage Brokerage Chiefs Speak Out

Mortgage Brokerage Chiefs Speak Out The heads of Canada’s largest mortgage brokerages spoke at the recently-concluded CAAMP Forum in Vancouver. They opined on industry risks, rates, broker attitudes and competition, among other hot topics. Here are the highlights… The Panel Five brokerage industry leaders participated: Michael Beckett (Mortgage Alliance), Colin Dreyer (VERICO), Martin Leedham (Visiting from the Australian […]

Brokers fear more compensation cuts – Ask a Vancouver Mortgage Broker

By Nestor Arellano    Mortgage professionals are worried First National‘s compensation cut will see other lenders follow suit or — what’s even more sinister — adjust their interest rates to force broker buydowns. “First National’s decision was troubling because many brokers fear other lenders would follow suit,” said Sudip Adhikari, a broker with Centum in Toronto. […]

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 […]

45% of brokers procrastinate on re-licensing

It has come down to the wire for nearly half of Ontario’s 12,000 mortgage professionals – who, with only a month left on the clock, had yet to complete that do-or-die re-licensing course. “What can I say? That’s the industry” Joe Rosati, executive director for the Independent Mortgage Brokers Association of Ontario, told MortgageBrokerNews.ca.  “FSCO […]

Happy Clients Are Gold

How important is client satisfaction to a mortgage broker? The answer is in this stat: A whopping 82% of broker clients find out about their broker via referral. (Source: Maritz/CAAMP) Existing clients are gold. As a broker, they’re our best source of new business. That’s why it pays to take care of and invest in them. […]

Less Broker in Your Broker

“There are lenders that are taking the brokering out of brokering” — IMBAPresident Albert Collu, via CMP That line is symbolic of what’s happening in our business. The face of mortgage brokering is changing. Lender policies meant to drive efficiencies are impairing brokers from doing their jobs. This is no more evident than with volume minimums. More […]

Interprovincial Mortgage Brokers

The Internet has made doing business possible across the farthest reaches of the globe. It’s not surprising then, that technology is fostering mortgage brokering across provincial lines. More and more, we see out-of-province brokers advertising and quoting rates in other provinces. This is making the mortgage market more price-efficient and lowering costs for consumers. While […]

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