Category: Resources for Brokers

Resources for Brokers

Introducing Level, Surprisingly Simple Down Payment Verification

The buildup has been dramatic. The need in the industry is palpable. And now, at long last, Lendesk is releasing our first publicly available product, Level, for the use of Canadian mortgage brokers. Level, our first broker-facing product, is the only product in the Canadian market that can automate the tedious collection of a borrower’s’… Read more »

4 Tips: How to Prep Mortgage Borrowers for New Stress Test Requirements

By: Penelope Graham, Zoocasa. It hasn’t been an easy year to be a borrower, and conditions are poised to become even tougher: As home prices and interest rates rise, Canada’s lender regulator is considering new rules to further limit mortgage qualification. While an official date is pending, it’s widely expected that the Office of the… Read more »

Is It Time to Ditch Variable? What to Tell Borrowers in a Rising Rate Environment

By: Penelope Graham, Zoocasa As of July, Canada has been thrust into a rising rate environment – something that, as recently as two years ago, seemed unfathomable. In 2015, when the Bank of Canada slashed its overnight lending rate by half and lenders undercut each other in ultra-competitive discounting “rate wars”, the concept that mortgages… Read more »

Marketing that Works for Canadian Mortgage Brokers

For Brokers, your success comes from the ability to complete as many files as possible. To do that, you need a steady flow of leads and referrals. There seems to be no end to the ways you can spend your money and time on marketing, But what works best? We consulted marketing experts and Brokers… Read more »

How Paperless are You? Poll Results from Canadian Mortgage Brokers

We’ve been heavily immersed in the development of our products, and we make contact with Canadian Brokers every day— to offers demos of Lendesk, and to get a feel for the unique needs that Brokers have. One of the questions we like to ask is: How “paperless” are you? We thought it would be fun… Read more »

Why Are Conventional Mortgages Getting More Expensive?

By: Penelope Graham, Zoocasa In mid-January, the Canada Mortgage and Housing Corporation (CMHC) announced it was increasing the premiums for mortgage default insurance. That they hiked rates is nothing new – the Crown housing agency raised premiums by 15% in May 2014 and June 2015 as part of efforts to reduce its insurance-in-force and the… Read more »

5 Digital Security Tips for Canadian Mortgage Brokers

A Mortgage Broker’s most valuable asset is their network. Most of your network’s details: contact info, financial records, private correspondence, etc. are stored digitally, so it’s prudent that you have a sound digital security plan in place. Either you have a cloud-based email and file storage solution, or you’re still making the mistake of storing… Read more »

Why Facebook Live and LinkedIn Pulse Will Be Useful to Brokers in 2017

Most of the work of being a Mortgage Broker is in building relationships and expanding one’s network. To that end, we want to highlight two tools that can be very useful for Brokers in 2017. Facebook Live Facebook Live is exactly what it sounds like. Using just your smartphone, you broadcast live video via Facebook…. Read more »

How Are New Mortgage Rules Impacting the Market?

By: Penelope Graham, Zoocasa Over the past month, the real estate and mortgage market has been absorbing a slew of new rules that target the affordability of both buyers and lenders. The latest changes, which will restrict lenders from getting portfolio insurance for some mortgage types, have yet to go into effect (they’ll officially be… Read more »

The Importance of CRM to Canadian Mortgage Brokers

There are certain milestones in every Canadian Mortgage Broker’s career that signify their growth and level of experience. The first time you sign a deal, the first time you sign a deal of a certain size. Or the when your “call sheet” truly becomes a database. At a certain level, it makes sense to start… Read more »