Equifax Launches Income Verification System + MORE Jan 23rd

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Q2 2018 Bank Earnings – Mortgage Morsels Jun 8th

The majority of Canada’s Big Six banks beat expectations for second-quarter earnings, despite slowing real estate activity and tighter lending rules for uninsured mortgages. Both RBC and Scotiabank posted 6% year-over-year increases in their residential mortgage portfolios, although the other .... More »

Customer says BMO ignored her plea to cap limit on joint line of credit with ex: debt more than doubles + MORE Apr 9th

An Ontario woman says she is furious that her bank repeatedly increased the limit on a joint line of credit she had with her then-husband, allowing him to rack up debt for which she is responsible. She wants banks to have to get permission before increasing a customer's line of credi.... More »
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B.C. home sales to fall as interest rates rise, but prices stay strong: BCREA + MORE Mar 10th

VANCOUVER _ Real estate experts in British Columbia predict residential home sales will dip this year but remain well above the province’s 10-year average, although they warn rising interest rates could leave some B.C. households “vulnerable.” The British Columbia Real Estate Assoc.... More »

Bank of Canada raises benchmark interest rate to 1.5%, noting trade tensions - CBC.ca + MORE Jul 11th

CBC.caBank of Canada raises benchmark interest rate to 1.5%, noting trade tensionsCBC.caFor the fourth time in a little over a year, the Bank of Canada has raised its benchmark interest rate, a move that will increase the cost of borrowing for Canadians with variable-rate mortgages and lines of cred.... More »

Broker Lender Market Share – Q1 2018 Jun 11th

Credit unions saw their slice of the broker pie shrink in Q1. That comes despite OSFI’s January 1 stress test, which played right into their hands given they are provincially regulated. Broker market share for CUs fell 0.6% versus Q1 2017. Less competitive pricing was a key reason. In particul.... More »

Equifax Launches Income Verification System

– canadianmortgagetrends.com

Lenders across the country are trying to build their own versions of the evolutionary, if not revolutionary, Rocket Mortgage. But there’s one problem. Unlike in the U.S. where income/employment verification services are already available, Canada hasn’t had a good solution. That has now changed. Equifax has formally launched Verification Exchange, a product it’s been piloting […]

Continue Reading On canadianmortgagetrends.com »

The success of reverse mortgages will depend to a large extent on whether mortgage brokers provide effective, objective advice on the suitability of these products

Continue Reading On theglobeandmail.com »

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