Meeting with a mortgage broker
Research report
9 October 2017

Mortgage brokers

More agents and brokers are sharing offices. We're worried what it could mean for home-buyers.

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Derek C.
18 Oct 2017
Commission Payments to Brokers

About the time that legislation covering brokers was altered when the goal was to clamp down on Investment Advisors the Banks' had introduced or were in the process of introducing a success commission based on the percentage of applications approved to the percentage that actually settle. This encourages Brokers to put applications with fewer or only one lender and is contrary to my understanding of the major benefit of engaging a Broker that is to source the most competitive mortgage available in the market. I am not sure if they are still doing this or not but if they are it is fundamentally unethical and the lenders and the brokers know it.