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Latest News
Mortgage renewal calculator + MORE Aug 18th
When it’s time to renew your mortgage, you can either stay with your current lender or shop around for a new one that offers a lower interest rate or different . Using a mortgage renewal calculator can help you pick the best mortgage offer available to you at the time of renewal.
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Housing starts near 10-year high on Toronto condo boom + MORE Dec 9th
Canada Mortgage and Housing Corp. says the pace of housing starts picked up in November, with condo building in Toronto driving the trend..... More »
Inheritance coming your way this year? Planning for it means you won’t waste it Jan 9th
Set life goals, think of the present and future, weigh your contribution to the mortgage, and earn interest all the while, says Lesley-Anne Scorgie..... More »
The Latest in Mortgage News: New Data on Financial Distress in Canada + MORE Jun 29th
A significant number of Canadian households reported being late on a debt payment or missing it entirely, according to a new report from Statistics Canada. The 2016 data from the agency’s Survey of Financial Security shows that more than 1-in-10 Canadians (11%) with some form of debt reported skip.... More »
Top Canadian Credit Card Issuers Cut Interest Rates and Pause Planned Hikes Apr 13th
The COVID-19 pandemic has swept many Canadians into unanticipated financial uncertainty. Mass temporary layoffs and job losses have left hundreds of thousands of people wondering how they are going to pay their rent and credit card bills in the coming months.
While the federal government is taking .... 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…
