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Regulators Deserve Praise…and Reproach
CMT has a long record of critiquing government rule changes in the mortgage business. It’s a check and balance on a bureaucratic system that sometimes “forgets”
Is This the Last Nail in the Coffin?
The Feds clearly wanted to crack the housing market, and they may have finally done it, with a sledgehammer. New Department of Finance (DoF) rules will hit the mortgage
Appraisals – Who do they Belong to?
A mortgage broker’s job comes with its share of uncomfortable moments. Telling a client that you can’t provide them with the appraisal they just paid for is one of them.
FICOM Announces Comp Disclosure Plans
B.C.’s mortgage broker regulator, FICOM, updated the industry Friday on the contentious new compensation disclosure guideline. (More on that contention) FICOM said it processed 70+
Down Payment Change Yields Low Impact
Back in December when the finance department hiked minimum down payments, it said the change would “dampen somewhat the pace of housing activity over the next
Three Big Mortgage Complaints
When it comes to complaints about banking products, mortgages are second only to credit cards. That’s according to the banking Ombudsman’s (OBSI’s) recently released annual
FICOM: Disclosure Plan a Go
B.C.’s mortgage regulator confirmed today that it is moving forward with its proposal to require brokers there to publicly disclose compensation details, possibly as early
Lender Call Roundup
Despite growing unemployment in oil country, Canada’s largest non-bank lenders capped off 2015 with low arrears and solid mortgage originations. Themes from last quarter’s lender conference calls
Pigeonholing “Shadow Banks”
“Shadow banking” is one of the most misapplied terms in financial services today. Apart from a few private lenders and small MICs, which comprise just