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If a Lender Fails

closed-lenderThe bulk of Canada’s 400+ prime mortgage lenders are smaller institutions. (That number includes credit unions.)

At any given time, one of these lenders—perhaps one you’ve never heard of—could offer the best mortgage deal. That’s especially probable today with major banks avoiding publicized rate competition.

The question is, should concern that a lesser-known mortgage company may fail deter you from dealing with that lender?

That topic is probed in this week’s Globe column, and from the story title, “Don’t fear the small mortgage lender,” you can likely infer the answer.


Rob McLister, CMT