Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
The importance of effective listening to your success as a broker + MORE Dec 16th
As mortgage brokers look for ways to stand out in a competitive industry landscape, it’s increasingly important to consider the impact that clear and concise communication can have on service levels..... More »
Is a reverse mortgage right for you? + MORE Aug 15th
Many Canadians are “house rich.” Their net worth appears healthy (the average tops $675,000), but in reality, a large chunk—sometimes 50% or more—of that wealth is tied up in their homes. Factor in the nation’s growing personal debt (according to Statistics Canada, we collectively owe $1.7.... More »
The Latest in Mortgage News: OSFI to Re-launch Review of the Uninsured Stress Test + MORE Apr 10th
Canada’s bank regulator has announced it will restart a review of the stress test rate on uninsured mortgages. The Office of the Superintendent of Financial Institutions (OSFI) said it will “resume its policy work on the minimum qualifying rate for uninsured mortgages by issuing a new co.... More »
How to buy a home the right way, according to CMHC + MORE Mar 1st
Canada Mortgage and Housing Corp. has updated its free guide to the process of buying a home, with an emphasis on encouraging Canadians to think long term about what kind of home they should buy — or whether they would be better off renting..... More »
Latest in Mortgage News – Industry Announcements Nov 26th
There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages. Here’s a look at each… Equitable Raises Allowable Equity Takeou.... More »
First National Financial LP
– canadianmortgagetrends.com
Company: First National Financial Position: Residential Mortgage Underwriters Location: Toronto, ON Residential Mortgage Underwriters We are hiring Residential Mortgage Underwriters at First National Financial LP! Closing Date: Open Hours of Work: 8:30 a.m. – 5:00 p.m. Office Location: Toronto, ON office Salary: Highly competitive compensation package which Includes, base salary, bonus and benefits. Overview: Our Residential Mortgage Underwriters are responsible for rendering credit decisions on incoming applications within their authorized limits and with adherence to company and insurer policies and guidelines while focusing on service excellence. The Underwriter has responsibility for applying due diligence when reviewing required READ MORE
Radius Financial
– canadianmortgagetrends.com
Company: Radius Financial Position: Regional Vice President, Ontario West Location: Southwest Region Regional Vice President, Ontario West Radius Financial, a growing Canadian mortgage company is seeking a skilled sales person to further build & develop the broker network in the Southwest Ontario region. The successful candidate will bring previous lending and strong sales experience within the residential mortgage lending/brokerage industry. Job Description Establish, maintain & manage key business relationships with mortgage brokerage firms, brokers & agents Use sales & service principals, practices & techniques to generate residential mortgage business Plan and implement effective business & marketing plans and sales & communication READ MORE
Street Capital Axes its Trailer Model
– canadianmortgagetrends.com
A trailer fee is a commission that a lender pays to a mortgage broker when his or her client renews with that lender. It’s basically an incentive for brokers to keep their clients with the lender after the mortgage matures. But trailers haven’t worked out as hoped for Street Capital, the broker channel’s third-largest lender brand by market share. Four years after launching its “Loyalty Program” with trailer fees, the company says “…We have not seen any material impact (of trailers) on either mid-term liquidation or retention.” As a result, it is doing away with trailer fees on new applications, effective July 1, 2015. As READ MORE
How Healthy is Your Province’s Housing Market?
– ratesupermarket.ca
At the end of May, the Canada Mortgage and Housing Corporation (CMHC) released its second quarter Housing Market Outlook for 2015.
Overall, the federal agency expects that the Canadian housing market will remain stable, with the national average price of a home ranging between roughly $400,000 and $440,000. For 2016, CMHC says that with the drop in oil prices, “our assessment is that there is more downside risk than upside risk to our forecast.” Nationally, housing starts (the number of new units constructed) are also expected to taper off this year and next.
But the picture isn’t a uniform one across the country. “Lower oil prices are contributing to disparities between provincial housing markets,” said the CMHC’s chief economist, Bob Dugan, in a press release. “Moreover, since the inventory of completed and unabsorbed units remains above the historical average, we expect the pace of new home construction to moderate over the next couple of years as builders focus on managing the existing inventory…
Radius Financial
– canadianmortgagetrends.com
Company: Radius Financial Position: Regional Vice President, Ontario Central Location: GTA Regional Vice President, Ontario Central Radius Financial, a growing Canadian mortgage company is seeking a skilled sales person to further build & develop the broker network in the Ontario Central region. The successful candidate will bring previous lending and strong sales experience within the residential mortgage lending/brokerage industry. Job Description Establish, maintain & manage key business relationships with mortgage brokerage firms, brokers & agents Use sales & service principals, practices & techniques to generate residential mortgage business Plan and implement effective business & marketing plans and sales & communication strategies READ MORE
