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Latest News
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 »
2020 – Year in Review + MORE Jan 7th
Now that the page has finally been turned on 2020, we wanted to take a look back at how mortgage rates fared over the course of what was a tumultuous year. It’s safe to say that COVID-19 stole the show in terms of the year’s biggest newsmaker. On the mortgage front, one of the biggest th.... More »
7 smart strategies for first-time home buyers + MORE Nov 19th
If you’ve been thinking about buying a house, you may be wondering how you’ll know when it’s “the right time.” If you don’t have a 20% down payment saved up, is it still OK to consider buying? If you can’t afford your forever home, should you still jump into ownership now? And does the.... More »
Alterna Bank’s Fully Digital Mortgage Apr 6th
You can’t get a mortgage without talking to someone. Online mortgages are an invitation for fraud. You can’t assess mortgage suitability online. Digital signatures aren’t safe. You can’t cross-sell an online mortgage customer. These are the modern-day urban myths of Canada&.... More »
Canadians continue to pile up non-mortgage debt + MORE Nov 12th
TORONTO – Canadians continued to pile up non-mortgage debt compared with a year ago but delinquency rates remained low, according to credit monitoring agency TransUnion.
Average consumer non-mortgage debt balances rose to $21,686 at the end of the third quarter, up from $21,195 in the same quarter.... More »
We Get What We Quietly Accept
– canadianmortgagetrends.com
“Keep calm and carry on” You’ve probably lost count of how many times you’ve heard that stale motivator after last week’s mortgage rule travesty. Brokerage heads are busy reassuring their agents, investors and lender partners that we brokers will persevere and get past this. Well of course we will. But wouldn’t it be nice if broker leaders spent as much time publicly decrying these rules as they did publicly comforting themselves? The truth is, we as an industry just got unapologetically shafted by a handful of anonymous policy-makers—policy-makers who sit insulated from the backlash and consumer repercussions in their cozy government office towers. There is absolutely nothing READ MORE
Mortgage Career: DocAssist
– canadianmortgagetrends.com
Company: DocAssist Position: Underwriter Location: B.C., Alberta and Ontario Apply to: kerry@docassist.ca Underwriter Position: We’re seeking experienced, mortgage underwriters to join our growing and dynamic team in BC, Alberta and Ontario. Remuneration is salary and bonus based. Who we are: DocAssist is Canada’s leading Mortgage Support Services platform. We help Mortgage Professionals grow their business with our proven administration and fulfillment support services. We have a track record of success supporting new and existing brokers. We value partnership, innovation and a commitment to excellence. Who you are: You are an organized and experienced Underwriter or Mortgage Professional looking to take on Underwriting READ MORE
To hell with this home market
– moneysense.ca
(Photo by Lucas Finlay)Aaron Urion considers himself lucky. Very lucky. He has a great job as an associate at a downtown Vancouver architectural firm and, last summer, he married his sweetheart and sailing partner, Heather Thompson, 36. These days, the couple enjoy their evenings looking out over the city, the water in the foreground and mountains in the background. On warm nights, Aaron, 38, waves to his neighbours before getting a glass of sparkling water for his wife (she’s expecting their first child this fall). Their biggest dilemma is whether or not to start the BBQ or go for a quick paddle before dinner.
Despite what you might think, Aaron and Heather didn’t saddle themselves with an infamous Vancouver million-dollar mortgage to get these phenomenal harbour views. Nor do they drive 90 minutes each way to Cultus Lake, a Fraser Valley vacationer hot spot. To get this cottage-in-the-city feel, the couple head to North Vancouver’s Mosquito Creek Marina, where they own a custom-built, two-bedroom float home…
