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The Teranet–National Bank Composite House Price Index™ stopped retreating in December

In December the Teranet–National Bank National Composite House Price IndexTM  edged up 0.2% from the previous month, interrupting a three-month run of declines. However, only five of the 11 metropolitan markets surveyed showed index increases. The one-tick rise of the composite index was due to a 1.3% jump of the index for the large Vancouver market. The other indexes showing gains Continue Reading

Leverage Your Skills to Find Mortgage Leads: How to Use AVMs to Find Refinance Opportunities in Your Current Book

When it comes to finding mortgage leads, your lowest-hanging fruit is your existing book of people you’ve arranged financing for in the past. Why? They know and trust you and you have extra insight into their personal information. But how can you identify new mortgage lead opportunities through the file? If the client purchased a home, look at their last Continue Reading

Mortgage Application Tips: How to Validate 75% of Your Information in Less Than 15 Minutes

Validating the information in a client’s mortgage application is a critical step in the mortgage underwriting process. Not getting necessary information can cause a broker’s deal to implode. It can also result in fraudulent deals being brought forward to lenders. Some of the most critical information in your mortgage application you will need to validate is: Income Home ownership information Continue Reading