Laurentian Bank Makes Major Shift.
Recently Laurentian Bank announced that they will no longer be providing mortgages through their in-house sales force in Quebec, (is this a sign of things to come for the rest of the provinces)?
That’s great news for Mortgage Brokers and it’s even better news for their clients.
Mortgage Brokers are registered through FSCO ( the Financial Services Commission of Ontario) and have to pass stricter testing to obtain a Mortgage Agent license than do Bank Sales Reps.
Mortgage agents offer the products of many lenders while the Bank Reps only have one option and that’s the offerings of the bank they are employed with.
If you think that’s it’s better to have more options when looking for financing and having a mortgage agent with stronger licensing requirements working for you please leave a comment below. If you believe there’s not benefit, we’d like to hear your take on the question too please.