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Latest News
Is this frugal Toronto artist’s $70,000 in savings enough for her to buy a property in the U.S.? Jul 3rd
If Joy were to buy a house in the U.S., writes financial expert Jason Heath, it’s probably best she get a pre-approved a mortgage before house hunting..... More »
Mortgage Industry Reacts to Liberal Budget + MORE Mar 21st
Hoping for minor tweaks to the mortgage stress test, the Liberal government’s 2019 budget instead left many in the industry underwhelmed and with more questions than answers. The stress test was left untouched, and instead Finance Minister Bill Morneau announced two key changes aimed at easing aff.... More »
What the latest BoC interest rate hike means for you + MORE Sep 7th
The Bank of Canada is hiking its benchmark interest rate by a quarter point to one per cent. So, what does that mean for people with credit card debt or a mortgage?
Economist Bryan Yu with Central 1 Credit Union says if you’re carrying a lot of debt on your credit card, you’ll probably start to .... More »
Lauren van den Berg named new MPC CEO + MORE Aug 12th
Mortgage Professionals Canada announced today that Lauren van den Berg will take over as President and CEO of the association starting next month. Van den Berg will fill the position left vacant by former MPC CEO Paul Taylor. The change in leadership comes as the association recently achieved the mi.... More »
Affordability tips for first-time home buyers to securing a mortgage + MORE Oct 29th
Q. My partner and I rent a two-bedroom apartment in Toronto in a great neighbourhood for $1,850 a month—so, a great deal. We have been living together for three years and would like to buy a house together next year, when we both turn 30.
Get the mortgage rate that works for you.Find the bes.... More »
Tips for investing in syndicated mortgages
– moneysense.ca
(John Lund/Getty Images)Q: I’m concerned about the stock market these days, and I am looking to diversify my investments outside the stock market. I’ve recently seen a lot of advertisements for syndicated mortgage products. The ads promise returns of 8% or more with the principal investment “fully secured” through real commercial property titles. I’m assuming it’s all too good to be true, but I don’t quite know where to look for the catch.
— Syndicated mortgage catch, Calgary, Alta.
A: Syndicated mortgages offer investors the opportunity to participate in the financing of commercial real estate projects by lending money to a developer at a specified rate (usually 8-9%) and term (usually 2-5 years). The 8-9% returns are annualized and not compounded, so your compound annual rate of return will be less than 8%. There may also be a bonus payment at the end of the term depending on the success of the project.
The typical minimum investment is $25,000 to $30,000…
What you can learn from this Oscar Best Picture nominee
– moneysense.ca
They say you can learn a lot from the movies. This was especially true this year when Michael Lewis’s book The Big Short was made into a film. It was scintillating entertainment starring Ryan Gosling, Christian Bale and Steve Carrell, but also carried several empowering money tips to help us build our wealth without getting duped by get-rich-quick schemes. Here’s a few notable financial lessons we found in the 2016 Oscar best picture nominee that are worth making a part of your daily life:
1. A little financial literacy goes a long way
No one would say that learning the lingo of high finance is easy but The Big Short shows that even difficult financial concepts like credit default swaps, synthetic collateral debt obligations (CDOs) and sub-prime mortgages are easy to understand if you take the time to research them—and if you realize that irrational human behaviour often lies at the heart of all these get-rich-quick products. That’s why pop-star and actress Selena Gomez explaining synthetic CDOs brought home the point that finance isn’t that hard—especially if you’re keen on learning if there’s something in it for you…
1. A little financial literacy goes a long way
No one would say that learning the lingo of high finance is easy but The Big Short shows that even difficult financial concepts like credit default swaps, synthetic collateral debt obligations (CDOs) and sub-prime mortgages are easy to understand if you take the time to research them—and if you realize that irrational human behaviour often lies at the heart of all these get-rich-quick products. That’s why pop-star and actress Selena Gomez explaining synthetic CDOs brought home the point that finance isn’t that hard—especially if you’re keen on learning if there’s something in it for you…
Mortgage Career: Anthem Mortgage Group
– canadianmortgagetrends.com
Company: Anthem Mortgage Group Position: Fulfillment Specialist Location: Barrie, ON Apply to: info@anthemmortgage.ca Fulfillment Specialist Years of Experience Required: 1-3 Years Preferred Licences or registrations required? Licence Preferred General Duties Reporting to the Broker, the Fulfillment Specialist is responsible for ensuring that all conditions are met prior to closing. The Fulfillment Specialist is responsible for all interactions with the Lender, Lawyer, Appraiser, Realtor, Insurance and Client to cooperatively satisfy all conditions within a mortgage commitment. Primary Duties Include Managing files from the time it is committed by the underwriter until all of the conditions are met on the READ MORE
