Ontario’s private lenders association began to take shape recently and without saying it out loud, it is about time. Private lenders, not to be confused with B lenders, are exactly that, they lend private individuals money. Whether it is in the form of a Mortgage investment Company (MIC) or whether they are a syndicated lender […]
Private Lender Associations Beginning to Form Read More »
In July of this year the final step in controlling mortgages by CMHC and the Office of the Superintendent of Financial Institutions (OSFI) will come into effect. So what does that mean for the consumer in today’s markets? Effective July 1, lenders will no longer be able to directly place insured mortgages in non-CMHC approved
Interest Rates On The Rise But Not For The Usual Reasons… Read More »
I’ve been talking with different lenders over the last week and as I said before they all have different guidelines for what happens. There are two scenario’s that have occurred in Fort McMurray, the one we all dreaded and your home is gone. The second is your home is still standing and you are unable
What Happens to your Mortgage in the Case of Fire Read More »
The numbers for Edmonton Housing are out this morning for January and February and it looks like Edmonton Home builders may be finally realizing that the market is a little softer than anticipated. CMHC report which I have attached to this blog shows that new home starts this year, so far, are down 1100 units.
YEG Home Builders May Be getting The Message Read More »
Interesting conversations always happen when we have a RECA audit, now called a review because audit offended some people, and this years was no exception. The conversation started around our responsibility to the borrower and what we can or can’t say to them in regards to their mortgage. The question is basically this “Do you
Is Your Mortgage Broker an Intermediary or Do They work For You… Read More »
If you’re in real estate or mortgages you have to be watching what is happening in #YVR with housing prices sky rocketing out of control. My hats off to the Realtor’s that can handle that high end client because when you are spending millions of dollars you expect a high level of professionalism. I have
Let’s talk about Vancouver… Read More »
Recently declining oil prices have made a significant dent in the Alberta economy. Calgary’s housing market is starting to show the most signs of damage as the rumor and probably reality of defaulting mortgages starts to show up again. Alberta is the only place left in Canada where you can walk away from your mortgage
Mortgage Defaults on the Increase in Alberta Read More »
February 15th approaching very quickly as the down payment requirement for homes between 499,000 and 999,999 dollars will require a bigger down payment. This change is said to only affect a few parts of the country that the government will be targeting to try and slow down. Is it too little too late if that
Downpayment Requirement for Homes Read More »
As we head into a new year we sometimes forget what great tools we have from our Private Mortgage Lenders. Construction mortgages for the smaller home builder, loans based on each property or blanket several and payout the mortgages as they sell. Are you a builder already and have standing inventory that you’d like to
The Year of The Private Lender – Available Mortgage Options Read More »
It has been a long time since I lived in the inner city, a great place in my youth to live and work. Bustling night life and endless choices to eat but as most do we ended up in the suburbs. No longer desiring the night life or more likely to take a cab down
Inner City or Suburbia? Read More »