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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What to do about your debt and mortgages after the interest rate hike Jan 29th

Personal finance expert Laleh Samarbakhsh shares her advice on the best ways to take advantage of the increased rates..... More »

What’s Driving Canadian Homebuyers? Feb 16th

Mortgage rule changes and increasing interest rates—surprisingly—weren’t the top motivators for prospective homebuyers in 2017, according to a new survey from the Canada Mortgage and Housing Corporation (CMHC). Instead, the 2018 Prospective Home Buyers Survey found that improved accessibil.... More »
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New mortgage rules sending borrowers to alternatives + MORE Feb 7th

TORONTO — Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance. As a result, alternativ.... More »
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Can I cancel my mortgage life insurance? It’s too costly + MORE Jan 26th

Q: My daughter and her husband did not earn enough, so my wife and I decided that we would help them by putting her name on the mortgage for the purchase of a new-build condo in Hamilton, Ontario. We opted to go with RBC and the mortgage was approved at a rate of 2.65%. In order to get the mortgage.... 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

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