Canadian Mortgage Hangout Mar 28th 2013

The Canadian Mortgage Hangout or #cmhTV for all you cats on twitter, is a weekly Google+ Hangout where a panel of social mortgage brokers (I think I just coined a new phrase) discuss issues faced by the mortgage broker channel. We broadcast weekly at 10am PST/1pm EST on canadianmortgagehangout.tv - The goal is to engage the mortgage broker channel to encourage excellence in what we do by sharing best practices and working together!

Contributors

• Scott Dawson - "Currently making #cmhTV mugs for the rest of us" @sdd
• Rob Campbell - "Currently waiting to get a mug from Scott" @therobcampbell
• Jackson Middleton - "Filling in as moderator for vacationing Gord" @kiltedbroker

*** If you enjoy what we do on the old Canadian Mortgage Hangout, and have something to contribute, consider joining us live on the hangout. Contact anyone of us to discuss some options!

Summary

This week we discussed issues that mortgage brokers face with respect to the way lenders package their products. There seems to be a real disconnect with the products offered by lenders to what the lenders want to achieve, re: efficiencies.

Could there be a better way for brokers and lenders to work together to have a more cohesive product to offer our clients?

We talk about rate specials, preapproval rates vs live rates, quick close specials and poorly named products such as "cashback". Also some great advice to new brokers about how to council your clients after a purchase or refinance is firm.

*** Note, I usually finish off each entry with a note, so here it is... not much to say this week, but I felt the need to keep format, so lets try this... if you actually read this note, please let me know in the comments section below by typing something interesting about yourself.