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Latest News
Mortgage penalty calculator + MORE Jan 22nd
If you have a closed mortgage and decide to break your mortgage contract before the agreed-upon term has expired, you’ll likely have to pay a prepayment penalty fee. A mortgage penalty calculator can help you figure out exactly how much those fees will be and will make it easier to know whethe.... More »
Talking Points: Of carbon lows and tennis woes + MORE Mar 10th
(Bill Ingalls/NASA/Getty Images)
Need an answer for that? Trying to look like the smartest person at the dinner party? Our Talking Points have you covered. Read our short takes on some of the big stories from the week that was:
Peak carbon? China’s emissions may already be falling.
China’s c.... More »
The best life insurance in Canada: your complete guide + MORE Sep 14th
Wondering how to get the best life insurance in Canada for you and your family? You’re not alone. The pandemic has shown Canadians that we are not invincible. In fact, a 2021 survey found 44% of us bought or now plan to buy life insurance because of the effects of COVID-19. But not everyone is con.... More »
Being hooked on debt has long-term consequences + MORE May 24th
Hooked on debt. It’s an apt description for the rising debt-to-income levels currently seen in Canada and a new survey by Manulife Bank highlights there’s a high price to our debt dependency—a cost that goes far beyond the low interest rates you see posted online.
Impact on those approach.... More »
The latest in mortgage news: Government unveils details of its foreign buyer ban Dec 25th
The government unveiled details of its foreign buyer ban on residential properties earlier this week, just days before the rules are set to take effect..... More »
Mortgage Career: TMG The Mortgage Group
– canadianmortgagetrends.com
Company: TMG The Mortgage Group Position: Mortgage Broker Location: Vancouver, Surrey, Kelowna, Victoria, BC Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Mortgage Broker TMG The Mortgage Group is currently expanding and recruiting experienced and newly licensed FULL-TIME mortgage brokers in Vancouver, Surrey, Kelowna and Victoria. We […]
Coast Capital’s New Pricing Strategy
– canadianmortgagetrends.com
A core selling proposition of mortgage brokers is choice. The more lenders that a broker works with, the greater their ability to source a mortgage tailored to the client. But some lenders (e.g., CIBC, BMO, ING, HSBC, Macquarie) have left the broker channel, reducing choices for broker customers. Those exits have typically been blamed on […]
Mortgage Career: Mortgage Architects
– canadianmortgagetrends.com
Company: Mortgage Architects Position: Commission Payroll Administrator Location: Mississauga, Ontario Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Commission Payroll Administrator About Mortgage Architects: We are an established national Mortgage brokerage led by an experienced management team and exceptional staff that supports our network of experienced Mortgage […]
Feds say NY family claimed wealth to get mortgages, claimed poverty to get food stamps
– canadianbusiness.com
WHITE PLAINS, N.Y. – Twelve members of a single Brooklyn-based family were charged Thursday with lying about being wealthy to obtain mortgages or lying about being poor to get food stamps and other benefits.
Some did both, the indictment said.
“They alternately played the part of prince or pauper depending on which scam was being perpetrated,” U.S. Attorney Preet Bharara said at a news conference in the White Plains courthouse. “Regardless of whether they were posing as rich men or poor men, they were always con men.”
He said one indicted couple claimed monthly income of $25,000 when taking out a mortgage and $180 when applying for food stamps and Medicaid.
The fraudulently obtained mortgages totalled more than $20 million and the welfare fraud realized about $700,000 in benefits, the indictment said.
Yehuda Rubin, 29, of Monroe, was described in the indictment as “an organizer” of the scheme but Bharara would not say he was the leader. Rubin’s father, Irving Rubin, 58, of Brooklyn, is the lead defendant…
Some did both, the indictment said.
“They alternately played the part of prince or pauper depending on which scam was being perpetrated,” U.S. Attorney Preet Bharara said at a news conference in the White Plains courthouse. “Regardless of whether they were posing as rich men or poor men, they were always con men.”
He said one indicted couple claimed monthly income of $25,000 when taking out a mortgage and $180 when applying for food stamps and Medicaid.
The fraudulently obtained mortgages totalled more than $20 million and the welfare fraud realized about $700,000 in benefits, the indictment said.
Yehuda Rubin, 29, of Monroe, was described in the indictment as “an organizer” of the scheme but Bharara would not say he was the leader. Rubin’s father, Irving Rubin, 58, of Brooklyn, is the lead defendant…
Multi-million dollar mortgages
– moneysense.ca
So you think housing prices are out of reach in Vancouver and Toronto? Just be glad you haven’t leveraged yourself with one of these monster mansions.Mukesh Ambani’s new home (Mail Today / Getty Images)
The Antilla building: $1 billion
Antilla is a residential property in South Mumbai owned by Indian business magnate Mukesh Ambani It is reported to be the second most expensive home in the world (after Buckingham Palace!) and includes a staff of 600.
Villa La Leopolda: $750 million
This large villa, residing in the town of Villefranche-sur-Mer on the French Riviera, is owned by Brazilian philanthropist Lily Safra. Over the decades its uses have varied: During World War I it served as a military hospital and Alfred Hitchcock used it as a set in his 1955 movie “To Catch a Thief.” Today, it’s registered as a French monument historique.
Fair Field compound: $250 million
Considered one of the largest occupied residential compounds in the United States, this 63-acre ocean-front property in Sagaponack, New York features a 66,000-square-foot main house that includes a 91-foot long formal dining room, a basketball court, a bowling alley and $150,000 hot tub…
