Lender Calls – Q2 Roundup

The country’s largest broker channel lenders wrapped up their second-quarter earnings, which provided a little more insight into the ongoing effects of this year’s new stress test. This year’s second-quarter results are thought to be a more accurate year-over-year comparison to gauge the stress test impacts than the first-quarter results, which the lenders say were…

Insurance Premiums May Rise in 2019

OSFI is tightening mortgage lending again. But this time, it’ll be less impactful for consumers. The banking regulator issued its final Mortgage Insurer Capital Adequacy Test (MICAT) guideline last week. MICAT is the “framework for assessing the capital adequacy of mortgage insurance companies,” OSFI says, and it takes effect January 1, 2019. According to National…

Reaction to CMHC’s Clampdown on Mortgage Fraud

Last month the Canadian Mortgage and Housing Corporation (CMHC) formally asked the Canada Revenue Agency to take a more active role in verifying income claimed on mortgage applications in an effort to clamp down on mortgage fraud. The CMHC says the move is necessary given that “the industry’s current detection tools have not kept pace…

How Brokers Can Harness the Power of Video Emails

Personalization and persuasion are the latest trends in capturing attention. Although emails can be made personalized and persuasive, there’s nothing like a real-time conversation. A medium that covers all the critical non-verbal elements of communication should be the medium you choose. Why? It’s the next best thing to being there in person, and it differentiates…