Deal volume sent through chartered banks dropped almost 1%
Volume at mortgage banks (e.g. First National, MCAP, etc.) grew over 36%
Brokers sent 12% less volume to credit unions
Subprime volume plunged 49%!
The above statistics are based on broker-originated mortgages that funded and were processed through the Filogix network. Volume processed through other avenues (by bank reps at branches for example) are not included in the above figures.
Filogix is the leading provider of mortgage connectivity software in Canada. These stats are therefore a good proxy for the Canadian broker industry.
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