Will Former BMO Mortgage Specialists be able to Find Work?
Yesterday we talked about the major job cuts made at BMO when they fired 1,000 employees, most of them mortgage specialists that were meant to be the bank’s saving grace. But while the natural transition for those specialists now without a job might be to turn to the broker channel, they might have a hard…
Read moreJob Loss at BMO shows Mortgage Specialists not Working Out for the Bank
It doesn’t seem like it was that long ago when RBC cut dozens of jobs and decided to outsource, and caused a global controversy over the move. They soon apologized afterwards and spoke of trying to keep jobs in the country, and we seem to have largely forgotten about it. Now, Bank of Montreal is…
Read moreCMHC Raises Fees, Private Insurers Benefit
Last week when Finance Minister Jim Flaherty was agreeing with comments made by the IMF about CMHC, he said that the government-backed organization planned to raise its risk fee, although he wasn’t specific about just how much it would rise. Now, CMHC has made the announcement that their risk fee will be going up to…
Read morePets may be Negatively Impacting Your Rental Unit in a Surprising Way
It’s pretty common for landlords to disallow their tenants to have pets in their unit with them. They can be messy, cause problems for those who live in the unit next if they are allergic, and can also cause damage to the unit. But while competition is so high for rental units, can landlords afford…
Read moreFlaherty Says IMF is Right about CMHC
Last week the International Monetary Fund came out saying that Ottawa should back away from government insured mortgages taken on by CMHC. And while some may have expected the Finance Minister to come back swinging, he actually told a group of industry insiders on Friday that he agreed with the global organization, and said that…
Read moreWhy are Big Bank so Eager to Offer Mortgage Vacations?
We’d all like to take a paid vacation now and again. And while your boss might not be offering it, many of the big banks have started offering ‘mortgage vacations,’ although they’re not structured in exactly the same way. With mortgage vacations, you pay a little extra every month on your mortgage and that extra…
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