I attended IMBA’s annual Mortgage Broker conference yesterday. IMBA is Ontario’s Mortgage Broker association. It was a good conference but it seemed to be a smaller crowd than in years past…..a result of the recession, I’m sure.
Nevertheless, it’s a great place to see all the Lenders and industry businesses in one location. I noticed a lot of smaller lenders were popping up and that’s a great sign for Borrowers as more competition is always good.
There were also lenders capitalizing on the new Mortgage Rules as CMHC tightened their lending policies earlier this week…. The smaller lenders fill a growing void for Canadians that want to buy an investment property or are self-employed and cannot provide traditional income verification. These lenders also signal improved confidence in the Canadian real estate market.