Mortgage brokers are lining up to sign on with BMO, but the bank is taking it slow. A few months into its official channel launch, it's brought on just over 100 brokers.
"We're expanding that quickly," says Hassan Pirnia, Head of Personal Lending and Home Financing at BMO. He assures us the bank isn't playing hard to get with brokers. It's just trying to ensure its processes are bulletproof before ramming through big volumes.
Apart from its broker contract (which one broker called "a bear") and starting fixed rates, the buzz around BMO's offering has been upbeat.
Streetwise Mortgages broker Dalia Barsoum, for example, finds the bank's products quite "investor-friendly"—for four key reasons:
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