BMO says its mortgage balances grew 0.5% last quarter. It was the first such increase since it exited the broker market in 2007. “We are successfully replacing the runoff of...
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BMO says its mortgage balances grew 0.5% last quarter. It was the first such increase since it exited the broker market in 2007. “We are successfully replacing the runoff of...
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24Aug
National Bank Axes Stated Equity Program
Filed Under: Mortgage Broker News by: Robert McLister
National Bank (NBC) has eliminated its conventional stated-income equity product. It was a bit of a disappointment when we heard. Brokers never did a ton of deals under this program,...
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Scotia Mortgage Authority says it is now the top lender by volume in the mortgage broker space, with a market share of 19.4%. The numbers are based on Davis +...
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Merix Financial, one of the larger non-bank mortgage lenders, has been putting up serious numbers. Its year-to-date mortgage volumes have jumped 37.1% versus last year. The company has been a...
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18,000 to 20,000 people hold mortgage agent and/or mortgage broker licenses in Canada, according to CAAMP. In Ontario alone, there are about 10,000. In BC and Alberta, there’s a total...
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10Aug
Most Broker Functions Exempt From GST/HST
Filed Under: Government Related, Mortgage Broker News by: Robert McLister
Earlier this year, brokers got a scare when CRA issued a notice that potentially applied GST/HST to brokering activities. Prior to this, mortgage broker services had long been one of...
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Brokers are performance-based individuals and they love to know how they stack up to the pack. That’s largely why Canadian Mortgage Professional’s Top 50 broker list is so intriguing. CMP...
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30Jul
Canadas Private Mortgage Insurers Re-Emerge
Filed Under: Mortgage Broker News by: Robert McLister
Just over a year ago, Canada was caught up in a global credit panic. The perceived riskiness of private mortgage default insurers caused their combined market share to plunge an...
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An automated valuation system (AVS) is a quick way to value a property without doing a full human appraisal. AVSs (a.k.a. AVMs, GVMs, or GVSs) are basically massive computer databases...
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