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Mortgage Bytes

  • Victoria’s cheapest house is $325,000, and comes complete with railway tracks in the back.  Ain’t she a beauty!
  • Do you need title insurance if you live in B.C.?  Here’s the Times Colonist’s opinion.  FYI: did you know that 10.7% of Canadians have a criminal record?
  • We’ve all heard about the subprime mess in the U.S., but there are also an abnormal number of “A” and “Alt-A” quality mortgages in foreclosure.  CNBC’s Jim Cramer says the distinction between “A” and less credit-worthy “Alt-A” mortgages is now “shot to hell.”
  • Canada’s five largest banks face “minimal” losses from their exposure to U.S. subprime loans.
  • First National’s mortgage revenue is up 42% in the last year.  They attribute their success to “increasing market share in the growing single-family residential mortgage broker channel.”
  • ActiveRain.com now offers a referral exchange for mortgage brokers.  Unfortunately, it needs a little marketing because no Canadian referrals are currently posted.
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Last modified: August 3, 2007

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