This change will create a monopolistic kind of environment which is not good for consumer either.
D
Darlene Neil Mcleod
9 years ago
.
B
Bruce Hale
9 years ago
Banks Win and the Canadian people loose. The old Golden Rule applies here. Government has proven again that the people with money or gold make the rules and we now know have proof that the Banks and Corporations run this country! This will be a MADE IN CANADA disaster when it really wasn't necessary. No consultation by Government except with the Big 6.
M
Michael Tomlinson
9 years ago
I think the government wants to kill the mortgage industry and the mono line institutions with the benefit going to the big banks
A
Anonymous
9 years ago
the big 6 six Banks distribute credit cards and car loans that require minimum mitigation or verification. They will continue to offer Refinance Mortgages at higher rates, and throw 20%+ APR credit cards that they will refinance later. DOF has sent the Canadian Consumer back to the Lion's den & debt loads will not be stabilized but continue to grow. Change Bankruptcy laws, Consumer Proposal rules, govern credit card distribution properly and increase housing supply. That will stabilize housing prices and costs to Canadian tax payers.
K
Karen Budgell
9 years ago
I am disgusted at myself for voting for the same government thar will effectively push me out of a job or force me to become a sub prime loan pusher ! The big banks win yet again ..stupid and sad ..and what saddens me even more is thst canadian consumers have NO IDEA THIS IS THE OUTCOME OF THIS !! What the hell happened to our democratic society
D
Dmitri Ivanov
9 years ago
If you are implementing such rules, make sure that all lenders following the same guidelines. This shows that the government once more benefiting big banks, while leaving Canadians will little choice.
M
Mary Nessel
9 years ago
Give the broker channel a fair playing field.
C
Clinton Gayadeen
9 years ago
This deal has basically killed the mortgage brokerage channel. I am no lawyer, but I believe this to be in violation on Competition laws.
H
Hasan Merchant
9 years ago
I am a licensed mortgage agent and this is how I earn my bread and butter for my family.... I use due deligence and adhere to all the compliance issues.... though with this new rules, I'll be out of business as the industry will die at the hands of the big 5 banks..... please save the industry and have a healthy competition...
L
Lalith Bamunuisnghe
9 years ago
This new rules actually put Canadians into more debts than recovering from it
B
Bob Salisbury
9 years ago
Competition is the backbone of a strong country so why different rules for mono lenders over the big banks we need a good balance please re think these changes
B
Brian Pinkerton
9 years ago
Featured
why cripple our industry we provide strong competition to the banks and we keep them honest without us mortgage rates would be at 5% and bond rates would be the same then look at what the banks would make and the consumer would just have to suck it up.
A
Anonymous
9 years ago
it's not fair the government wants to pad the banks pockets - they already have their share of revenues- and put thousand of others (monoline lenders) out of a job
J
John kelly
9 years ago
Modify the recent policy changes to ensure that mono-line lenders are in an equal playing field with banks and credit unions
B
Buzz Grant
9 years ago
Featured
We must allow Canadian consumers maximum choice especially with a well regulated independent mortgage brokerage industry as developed as it is. Independent mortgage brokers provide better advice and options than do bank and credit union reps.
B
B McKim
9 years ago
The government needs to stop sticking their nose into every ones business. Let the people decide whether they can afford to purchase a house. I'm sick and tired of Mommy Wynne telling us what's best for us. Bugger off Wynne!
A
Anonymous
9 years ago
You should be going after the banks for their credit card interest rates. THESE are what put borrowers in trouble, not a low rate mortgage. We have only 1% default in Canada.
A
Allan Bowerman
9 years ago
Keep the hi ratio changes and negate the lo ratio requirments
J
Jake George
9 years ago
Not exactly farid, sure the laws made it harder but not impossible. Don't give up, there is options. Shoot me an email if you like to discuss [email protected]
This change will create a monopolistic kind of environment which is not good for consumer either.
.
Banks Win and the Canadian people loose. The old Golden Rule applies here. Government has proven again that the people with money or gold make the rules and we now know have proof that the Banks and Corporations run this country! This will be a MADE IN CANADA disaster when it really wasn't necessary. No consultation by Government except with the Big 6.
I think the government wants to kill the mortgage industry and the mono line institutions with the benefit going to the big banks
the big 6 six Banks distribute credit cards and car loans that require minimum mitigation or verification. They will continue to offer Refinance Mortgages at higher rates, and throw 20%+ APR credit cards that they will refinance later. DOF has sent the Canadian Consumer back to the Lion's den & debt loads will not be stabilized but continue to grow. Change Bankruptcy laws, Consumer Proposal rules, govern credit card distribution properly and increase housing supply. That will stabilize housing prices and costs to Canadian tax payers.
I am disgusted at myself for voting for the same government thar will effectively push me out of a job or force me to become a sub prime loan pusher ! The big banks win yet again ..stupid and sad ..and what saddens me even more is thst canadian consumers have NO IDEA THIS IS THE OUTCOME OF THIS !! What the hell happened to our democratic society
If you are implementing such rules, make sure that all lenders following the same guidelines. This shows that the government once more benefiting big banks, while leaving Canadians will little choice.
Give the broker channel a fair playing field.
This deal has basically killed the mortgage brokerage channel. I am no lawyer, but I believe this to be in violation on Competition laws.
I am a licensed mortgage agent and this is how I earn my bread and butter for my family.... I use due deligence and adhere to all the compliance issues.... though with this new rules, I'll be out of business as the industry will die at the hands of the big 5 banks..... please save the industry and have a healthy competition...
This new rules actually put Canadians into more debts than recovering from it
Competition is the backbone of a strong country so why different rules for mono lenders over the big banks we need a good balance please re think these changes
why cripple our industry we provide strong competition to the banks and we keep them honest without us mortgage rates would be at 5% and bond rates would be the same then look at what the banks would make and the consumer would just have to suck it up.
it's not fair the government wants to pad the banks pockets - they already have their share of revenues- and put thousand of others (monoline lenders) out of a job
Modify the recent policy changes to ensure that mono-line lenders are in an equal playing field with banks and credit unions
We must allow Canadian consumers maximum choice especially with a well regulated independent mortgage brokerage industry as developed as it is. Independent mortgage brokers provide better advice and options than do bank and credit union reps.
The government needs to stop sticking their nose into every ones business. Let the people decide whether they can afford to purchase a house. I'm sick and tired of Mommy Wynne telling us what's best for us. Bugger off Wynne!
You should be going after the banks for their credit card interest rates. THESE are what put borrowers in trouble, not a low rate mortgage. We have only 1% default in Canada.
Keep the hi ratio changes and negate the lo ratio requirments
Not exactly farid, sure the laws made it harder but not impossible. Don't give up, there is options. Shoot me an email if you like to discuss [email protected]