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Mortgage Bytes

  • 20% of Canadian mortgage consumers are unaware of mortgage brokers and the services they provide.  CMHC 2007 Housing Observer
  • Commercial-Paper-Trading A new electronic market started today for commercial paper.  It’s something that could potentially add liquidity for the paper, and theoretically lower interest rates on certain mortgages.  So far trading is slow, but that’s not unusual for a new trading market.  Prior to its crash a few months back, commercial paper was widely used by certain non-bank lenders to finance mortgages.
  • GMAC has completed its purchase of ResMor
  • U.S. brokers are threatened by a new bill
  • Million Dollar Journey has another great article on investing in 2nd mortgages.
  • Xceed is recognizing a $17-$20 million loss on its future mortgage profits.