Realtors seeking mortgage broker licenses
An increasing number of real estate agents are taking out mortgage broker licenses as a way of better guiding clients and protecting property deals increasingly susceptible to financial turbulence.
`As a Realtor, I see a mortgage agent license as an asset for my clients, in helping them secure a home as well as the most appropriate mortgage,` said Idalia Batson-Grazette, a real estate agent with Right At Home realty in Toronto and now a mortgage agent with Matrix Mortgage. `I saw becoming a mortgage broker as a natural progression.`
The 35-year veteran of real estate took that step two months ago. She`s not alone with a growing number of Canadian real estate agents taking provincial licensing exams and signing up with mortgage brokerages looking for well-connected professionals, according to industry professionals.
Likely driving the trend are new mortgage rule changes meant to lower Canadian household debt but that have made it more difficult for homebuyers to win financing at the Big Five. Forecasts predict increasing demand for mortgage brokers as more and more Canadians, out of necessity, explore borrowing options available through the broker channel.
Read the full article
here.