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
It’s been a while since a single event changed the lives of so many Canadians, and 2020 has affected employment and finances for thousands, perhaps millions, of people. This likely means mortgage brokers are going to see more mortgage applications with interrupted or lower incomes, higher debt servicing ratios and… Read More
Client relationships are the foundation of your business. They are making the largest purchase of their lives and are trusting you to guide them through it. Your days are filled with meetings with clients, co-workers, and others in your industry. Then came 2020 and the world changed. Where you once… Read More
Social distancing rules may be easing, but many of us are still using video chat as the main way to keep in touch – mortgage brokers are no exception. At some point in time, you have probably experienced some distracting video chats – microphone rubbing against collar, chewing… Read More
From pivoting to completely overhauling strategies, many businesses are forced to shift gears during these unprecedented times. What has not changed, however, is the need to communicate. In fact, keeping in touch with existing and potential clients during a crisis is more important than ever. It… Read More
Despite living in a digitized world where businesses across most major industries are going paperless, the reality is paperwork and the need to scan pertinent documents is still a part of everyday life.The struggle is real; particularly for all the busy mortgage brokers meeting with clients and clients unable to… Read More
A career as a mortgage broker might seem straightforward—help clients find the mortgage that works for them. But behind the scenes, you’re also growing your business, maintaining current and past client relationships, developing associations with a variety of lenders, and keeping up with changes in Canadian mortgage rules. It’s a… Read More