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Changes to Canada Mortgage & Housing Corporation (CHMC)

Changes to Canada Mortgage & Housing Corporation ( CMHC) Federal Finance Minister Jim Flaherty recently announced that the role of CMHC is under review and is now under the authority of the country’s banking regulator, the Office of the Superintendent of Financial...

Re-licensing education for mortgage brokers- Elevating the level of professionalism in the industry or simply a way to purge the ranks and eliminate competition?

The Financial Services Commission of Ontario (FSCO) has set March 12, 2012 as the deadline for completing new licensing requirements for mortgage brokers within the province of Ontario, with the stated purpose is to improve the level of professionalism in the mortgage...

Calculating Interest Rate Differential (IRD)

With interest rates at historic lows many home owners are seeking to refinance their current mortgage prior to the scheduled maturity date. It is an excellent idea to review this option as the potential savings is generally in the thousands, if not tens of thousands...