When you talked to your broker last time you may have asked him or her abut the banks or lenders they use. If you did not, then you must – next time.
It is important to know the lender you are going to deal with. Brokers use many lenders, or this can be re-phrased as – many lenders use brokers to find borrowers who will satisfy their criteria.
Often, due to lack of knowledge, borrowers don`t feel comfortable to deal with a less known lender. There is no real reason to worry, most of those lenders are in the market for a long time.
Canadian Mortgage Trends publishes a quarterly article on the market share of the brokers lenders. Below you shall find the graphical representation of the data. We here, at CMA appreciate the effort CMT puts in to deliver the information to consumers and industry.