There is an established and growing population of workers in the employment market where the concept of a full-time job has been replaced with a series of well-paying gigs. It is creating a new market for brokers and challenging lenders to redefine acceptable income sources. According to Statistics Canada, the… Read More
Create a smooth application process with great deal notes. How much time do you spend writing your deal notes? From a lender’s perspective, applications with good deal notes stand out. Supplying accurate and reliable information helps underwriters make decisions more quickly. From your client’s perspective, they’ll appreciate you for speeding… Read More
With self-employment on the rise, mortgage brokers should know how to accurately interpret the information in company financials and income verification documents. For self-employed clients looking for a mortgage, proving income is more involved than providing a T4 and a letter from an employer. You’ll need to look at both… Read More
Networking. Some people are great at it and some find it difficult. If you’d rather have a root canal than walk into a room full of strangers and make small talk, you’re not alone. Yet, as a mortgage broker, networking and building relationships are important for your success. Even if… Read More
Love it or hate it, social media is a big part of our lives. Gone are the days where businesses could grow with only a website and telephone number. Social media is an increasingly important way to connect with customers. It also adds another dimension to the client relationship, making… Read More
In a world where there are multiple demands on our time, convenience is becoming increasingly important when choosing service providers. If we can do something from the comfort of our homes, we want it, and that’s driving many businesses to find innovative solutions to meet growing digital demand. How digitally… Read More
One three-digit number has a lot of power. A client’s credit score is a critical factor in getting approved for a mortgage, and it can affect the interest rate on that mortgage. That credit score is calculated using a complex set of algorithms that consider the following factors: Length of… Read More
Gross-ups and add-backs and adjustable rates… OH MY! There are so many tools available to help get a deal done, it can be hard to keep track. Don’t fret, let us dig into a few you can use to help your clients see an approval. Gross-ups and add-backs can both… Read More
As a mortgage broker, you’ve developed relationships with many lenders. Do you have alternative lenders on your contact list? If not, now is a great time to explore what they have to offer and get that relationship going. Let’s face it, not all your clients are going to have a… Read More
