Mortgage Brokers in Australia – Industry Market Research Report

Product Description
This Industry Market Research report from IBISWorld provides a detailed analysis of the Mortgage Brokers in Australia industry, including key growth trends, statistics, forecasts, the competitive environment including market shares and the key issues facing the industry.

Industry Definition

Mortgage brokers in Australia generally act on behalf of lenders, aiding borrowers in sourcing and applying for mortgage finance for both residential and inv… More >>

Mortgage Brokers in Australia – Industry Market Research Report

Mortgage and Nonmortgage Loan Brokers in the US

Product Description
This industry comprises establishments primarily engaged in arranging loans by bringing borrowers and lenders together on a commission or fee basis. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are three year industry forecasts, growth rates and an analysis of the industry key players and their market shares…. More >>

Mortgage and Nonmortgage Loan Brokers in the US

Mortgage Brokers Guide to Lending

Product Description
The information in this guide will help mortgage loan originators close more transactions, says author Martin Koellhoffer. It will help loan originators who have recently come into the mortgage lending business understand the fact that 95% of people who want to purchase real estate can do so, Koellhoffer writes. One key factor in obtaining a mortgage loan approval is for you the originator to have a better understanding of the wide range of loan programs availab… More >>

Mortgage Brokers Guide to Lending

Mortgage Brokers In Ontario Governed By New Act And Regulations

Mortgage brokers across Ontario came under the regulation of the Financial Services Commission of Ontario (“FSCO”) on July 1, 2008 when Ontario’s Mortgage Brokerages, Lenders and Administrators Act, 2006 came into effect. The new Act and regulations was put into place in order to protect consumers and mortgage professionals within the industry, and to ensure that Ontarians are dealing with fully credentialed, educated, experienced and suitable brokers and agents when they are arranging for a mortgage for their home or property.

Two of the areas that Ontario’s new legislation aims to cover are the issues of disclosing borrowing costs and ensuring the suitability of the mortgage. Now, brokers and agents will be governed by the same cost of borrowing disclosure requirements banks, credit unions and insurance companies are required to give their customers. On whole it is meant to give the person who is shopping for a mortgage full, fair and timely disclosure of all the costs of obtaining and paying his or her mortgage. What no one in the industry wants to see is a borrower relying on an independent mortgage brokers to get them the best deal that is out there, and then having that person turn around after a month or two complaining of hidden costs. The mortgage process should be open and transparent. It’s part of a brokerage’s job to ensure its clients understand the mortgage products it finds for them, and that those products are best suited to their needs and circumstances..

The other big issue the Act and Regulations deal with, therefore, is the issue of ensuring the suitability of a particular mortgage product to the needs of the borrower – or the mortgage lender, or investor, as the case may be. It’s now mandated that a mortgage brokerage has to take “reasonable steps” to ensure that the mortgage or mortgage products it presents to a borrower for the borrower to consider is “suitable” for that person, having regards to that person’s specific “needs and circumstances”. The same holds true for the needs and circumstances of the lender or mortgage investor.

In addition to ensuring the suitability of a mortgage product to the borrower’s individual needs and circumstances, the brokerage must also provide written disclosure of all material risks to the transaction and give the borrower adequate time to consider those risks and the terms of the mortgage itself.

The advance disclosure that mortgage brokers are now required to provide to borrowers includes:

- The principal amount of the mortgage;
- The annual interest rate (or the method of calculating the annual interest rate, if it is a variable-rate mortgage);
- The installment period (monthly, weekly, bi-weekly etc.) and the amount of each monthly installment;
- The amortization period for the mortgage and details regarding any compounding interest that is payable; and,
- The term of the mortgage and the amount that the borrower will owe when the mortgage’s term expires (presuming all payments are made when due, and there are no prepayments made).

To ensure that borrowers get the financial disclosure they require and adequate time to consider the terms and conditions of the mortgage, as well as any material risks, the new Act and regulations mandate a 72 hour “cooling-off” period. The borrower must receive the mandated disclosure a full 72 hours, excluding Sundays and holidays, before he or she is asked to sign a mortgage instrument (or a commitment to enter into a mortgage). This “cooling-off” period can be reduced to 24 hours, provided the borrower receives independent legal advice.

The new Act and regulations fall under the purview of FSCO, which is charged with licensing and regulating mortgage brokers, broker agents and brokerages across the province. FSCO’s website ( provides consumers and mortgage professionals with full information and access to the new Act and regulations, as well as information on the accreditation program and a list of accredited mortgage brokers.

For more information or to contact one of our experienced mortgage brokers, visit or call us at 1-888-465-1432.

How To Get The Most From Mortgage Brokers

Finding a home loan is a big deal. A home loan is going to be one of the biggest debts a person will incur in their lifetime. That is why it deserves special attention. Almost any advice a person gets on finding a home loan will include the tip to shop around for the best rates. That is because the interest rate on such a large loan, like a home loan, can cost hundred of thousands of dollars. It is not cheap to finance a home purchase. One way to get the best home loan rates is to try using a mortgage broker.

A mortgage broker is someone who searches for home loans for the home buyer. The broker is basically an insider in the industry. This means they have access to special deals and financing offers that the home buyer may not have otherwise been able to find. Additionally, they often have good relationships with lenders and can negotiate good deals for a home buyer.

A mortgage broker is going to be able to help a home buyer by finding them the best deals. Additionally, they are going to save the home buyer time because they are going to be doing the searching and all the major work in finding the home loan.

The broker is going to be able to also pre-qualify buyers. What this means is the home buyer gives their information to the broker and the broker can fill in pre-applications with different lenders. They can secure lending for the buyer and all the buyer needs to do is finalize once they accept the deal.

A mortgage broker can be set up exclusively to find a home buyer their mortgage or they can be used to just find good deals to offer the home buyer so they can look into them further.

Home buyers have the option of using multiple brokers if they want. This is a great way to really find the best deals and is especially useful for people who are going to have a hard time getting approved. The brokers often know who will lend to those with bad credit or other situations that make securing a loan difficult.

Mortgage brokers work independently and sometimes directly for lenders. It can help to know which kind of broker the home buyer is using. A broker that works for a specific lender is not going to search around for different lenders, but rather just search their lending institutions options.

Mortgage brokers can be found in a variety of places. A person can find them by calling lending institutions. They can find then right in the yellow pages or they can do an online search for mortgage brokers.

Using a mortgage broker is a great way to get the best home buying experience. A broker can simplify the process and elevate a lot of stress. They can also help to speed things up and make things move along quicker. A mortgage broker is well worth looking into when searching for a home loan.

James Copper is a writer for where you can get information on mortgage brokers

Shopping For Bad Credit Mortgage Brokers

You like to shop. You know you do. It’s nothing to be ashamed of. You like to get out there bedecked in your fashionable hot pants and flip flops, scout the malls and markets, and find the best deals there are. Shopping takes a great deal of time and effort but you’re perfectly happy to do it anyway. If only you put half as much heart in searching for the best mortgage deals there are! You would never end up with an unscrupulous bad credit mortgage broker.

The Sweet and Sour of It
Bad credit mortgage brokers don’t offer mortgages themselves. If they say that they do, they’re probably lying, so go run as fast as you can in the other direction. Bad credit mortgage brokers are basically middlemen who specialize in matchmaking financially-challenged borrowers to money-wise lenders. Bad credit mortgage brokers earn money on commission and are often independent, smooth-talking sales people. They are often licensed to work. Licenses, however, are very easy to obtain. Well and good for the bad credit mortgage brokers who deserve them, but how about the dodgy characters? Not all bad credit mortgage brokers have your best interest at heart. Because they’re paid on a commission basis, they may push for certain deals that are not exactly right for you. That’s why you should be extra careful in choosing a bad credit mortgage broker. The right one can make your life easier. The wrong one could make your life a living hell.

A Lender for the Legwork
Searching for the right mortgage lender can be hard and boring work. Bad credit mortgage brokers can do the work for you and more. They are always privy to the best mortgage deals available and can work out really good deals for you. This is because most bad credit mortgage brokers, especially those who have been in the business for a long time, have built relationships with the lenders. Also, if you have an undesirable credit rating, these brokers can even find lenders that would take you – not out of the goodness of their hearts but because that’s what they specialize in: poor credit.

A’shopping You Go
Shop for the perfect bad credit mortgage broker the way you would a pair of shoes or a new La-Z-Boy. Don’t put all your eggs in one basket. Talk to a number of bad credit mortgage brokers and compare what they have to offer. You can ask for references. Make sure that their promises are put in writing. Always pay close attention to the fine print. Check the accuracy of the information given to you. All fees – hidden or otherwise – should be disclosed prior to committing to anything, and make sure you know what all these fees are for. You can take note of the quotes given to you by bad credit mortgage brokers and call the lender directly to verify the information. It’s not tacky to be a stickler for details. You’re only safeguarding your undertaking and it is perfectly reasonable to do so. Remember, once contracts are signed, there is not turning back.

Your mortgage is not a joke. It deserves as much attention as picking new eyeliner because if you don’t like it, you can’t just give it your teenage niece.

You, too, can find a bad credit mortgage broker! Visit now and discover how a good broker can help you get the best fixed mortgage rate and refinance home mortgage interest rates.

Top 3 Ways Mortgage Brokers Can Stay on Top of Their Game

It’s no secret that our place in the current real estate market is at a steady decline. Refinances are proving to be more difficult to obtain due to stricter lender policies. The purchasing and selling of properties is stagnant because although it is a buyer’s market; buyers taking the bait are few and far between. As a society, we’ve hit rock bottom. The good news is that there is no other way to go from here except for up. Real estate professionals such as mortgage brokers can use this down time to sharpen certain skills, acquire new ones, and explore the possibilities of improving customer relations. The top three steps a mortgage broker can take in the right direction are as follows:

Ramquest is a Windows based software program that was released in 1991 to ease the operations of the land title industry. Since its release it has revolutionized the unity between mortgage brokers and title companies with its PaperlessCloser feature.

PaperlessCloser is a feature that allows mortgage brokers to submit their title search inquiry online as well as easily track its progress. Once the title search has been completed the title commitment as well any supporting documents; i.e. chain of title, explanation of liens and judgments, are uploaded for the mortgage broker to access. Furthermore, once the file is set up in the system, the mortgage broker can then identify which users may also access the information online; i.e. their clients.

Short Sales
More and more short sales are being approved by lenders for fear of losing any and all income on the property in question should a foreclosure arise. Short sale training is now being offered to mortgage brokers everywhere from large brokerages to online tutorials. Short sale tutorials will teach mortgage brokers how to initiate these types of sales on behalf of the prospective buyers.
A mortgage broker should know the ins and outs of this process because it is more than likely your next buyer looking for a loan is purchasing a short sale property.

Hard Money Lenders
Hard Money Loans are an excellent way to keep your bad credit buyer on the approval track. With the stringent new policies that lenders are implementing, a hard money lender may be your customer’s only hope. Hard money and private lenders can be found through extensive networking. As mortgage brokers you may have, in the past, worked with an investor clientele. Broadening that circle through networking may introduce you to additional private lenders willing to make hard money loans.

The looming question regarding the real estate market isn’t if it will rise again. Rather, it is when will it rise again? Instead of waiting around for the inevitable to happen to the market, why not take advantage of its current state? For mortgage brokers, staying in tune with what your costumers need will not only keep you on top of your game but may open doors to additional opportunities.

The company offers a comprehensive list of
mortgage brokers to help you find the right
mortgage broker for all your
mortgage needs.

Guerrilla Marketing for Mortgage Brokers: How to Steal Customers from Your Competition

  • ISBN13: 9780976090106
  • Condition: NEW
  • Notes: Brand New from Publisher. No Remainder Mark.

Product Description
In his groundbreaking book, “Guerrilla Marketing for Mortgage Brokers: How to Steal Customers From Your Competition,” Certified Guerrilla Marketing Coach David Hancock teaches readers how to crush competitors and discover exactly why business slows down in tough economic times–and exactly what they can do about it…. More >>

Guerrilla Marketing for Mortgage Brokers: How to Steal Customers from Your Competition

High Demand for Mortgage Brokers

The mortgage intermediary market is facing a potential recruitment crisis due to a lack of graduate mortgage brokers entering the industry.

Unlike many other professions, such as accounting or banking, the mortgage industry does not have a structured recruitment process designed to attract new mortgage brokers.

At present, the industry is awash with mortgage brokers in their 40s or 50s who are nearing retirement and who have little interest in applying new directives from the Financial Services Authority or learning about new advancements in IT.

Because of this, the mortgage intermediary industry is hungry for new talent to take their place.

Trainee mortgage brokers are required to complete a qualification such as the Cemap, but this is only necessary after they have decided to enter the industry. Once trainee mortgage brokers have completed the Cemap there is virtually no compulsory ongoing training required to continue working as a mortgage broker.

The ongoing training does exist, however it depends on the employer as to how much training their mortgage brokers will be required to complete in order to remain authorised.

Despite this, training is not the issue. What the industry needs is a graduate program that will attract young and enthusiastic individuals in the first place and convince them to become mortgage brokers.

Working as a mortgage broker can be a rewarding career with each day different from the last.

Mortgage cases are rarely similar to each other these days as individuals are subjected to a wide range of salary and wage schemes from their jobs. Credit files also vary considerably between mortgage applicants and heavy adverse credit individuals can present mortgage brokers with challenging situations.

As with all industries that experience skills shortages, mortgage brokers have the potential to earn excellent salaries and substantial commission payments. Remuneration levels vary with fully independent mortgage brokers working in a self-employment situation likely to earn more than their employed counterparts.

There are not only exceptional financial rewards on offer for mortgage brokers that are willing to put in the hard work, there are also intrinsic rewards such as helping people, for example, buy their first home.

If you are interested in becoming a mortgage broker contact the Chartered Insurance Institute (CII) or the Institute of Financial Services (IFS) to find out more about the qualifications on offer.

UKMortgageSource provides information on UK mortgage brokers and provides a contact point for individuals searching for qualified Mortgage Brokers

Marketing for Mortgage Brokers: A How-To on Trackable Direct Response Marketing Systems

Product Description
Turned out on his ear by his friend & broker just 1 week before Christmas, with no marketing, no leads, no referral base, and seemingly no chance of making a living of any kind in the mortgage business, things looked bleak for Scott Tucker. But fast forward just 87 days, and his newly-created, from-scratch, secret direct response Mortgage Marketing System turned his $5,000 credit card investment in his first mailing into $75,000.00 in fees, over the next 57 days. … More >>

Marketing for Mortgage Brokers: A How-To on Trackable Direct Response Marketing Systems