Our CEO Shubha Dasgupta takes us through the weekly market update in this training session. Shubha starts the meeting with rate updates for Prime and Alt Lenders. He highlights the rate percentage for insure, insurable, uninsured and rental. He shares rates projection and the percentage of bank predictions compared to the Bank of Canada. With that said, trigger rates are another concern. The possible impact this might have on borrowers with the possible rate hike is one to consider.
This means that agents should review files, use trigger rate calculation and learn the trigger rate policy of banks to have an intro discussion with clients. Many Lenders are also tightening up their policies to ensure they don’t make any mistakes. Regardless of this happening, the need for agents to give guidance to clients by answering clients’ questions is essential. He highlights that positioning yourself when talking to clients will provide comfort and trust.
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One of our priorities here at Pineapple is to ensure that you are all remaining compliant in your mortgage business. While we understand you may all have a different style of marketing/advertising your mortgage business, we are sending this email as a reminder that you are ensuring that you are keeping aligned with the mortgage industry public relations and advertising requirements as per the link.
Please take a moment to read the attached link to ensure that you are adhering to the Mortgages Brokerages, Lenders and Administrators Act 2006 (MBLAA) and its regulations.
Please reach out to Diana at email@example.com if you have any questions.