Last time, we discussed mortgage fraud using “straw buyer” schemes and the red flags that come up when they happen. This time we are taking a look at an even more insidious type of fraud, where the red flags are hard or even impossible to spot until it’s too late. Title Fraud When you purchase a […]
General Information
What happens with mortgage fraud and why you’re not safe
Nowadays, with the amount of information that is shared on the internet and social media, identity theft and Ponzi schemes are happening regularly. Homeowners are taking the necessary steps to protect one of their largest investments, which is their home. The last thing you want to worry about is yet another way to lose your […]
Road reps badmouth broker credit checks
It’s one of the clear advantages brokers offer clients hunting for a mortgage, but even that is being threatened by mortgage specialists arguing the hit attached to their credit checks are much lower than those undertaken by brokers. “It’s totally false,” says Ron Butler of Butler Mortgage. “We hear this constantly – the bankers are […]
Few CMHC Stats
The CMHC’s latest annual survey of mortgage consumers reveals some interesting insights into the habits and thoughts of those we do business with. Sixty per cent of mortgage renewers do so before the scheduled date with most doing so to avoid perceived mortgage rate increases. Almost half of mortgage consumers pay more than their minimum […]
No more mortgage rule changes
The Bank of Canada has made a number of mortgage policy changes – including a number of measures that have drastically impacted mortgage broker business – but the Bank of Canada has said it is done tinkering with programs for now. “We don’t see a need for an immediate shift in policy,” Finance Minister Joe […]