Further to yesterday's speculation about Scotia's loan-to-value policy changes, it turns out that rumour became fact quicker than expected. In a memo the bank sent out a few days ago—which we received Thursday—it announced that it was implementing the changes this week. (Banks don&

In the vast sea of non-OSFI-regulated non-prime lenders, the newly-launched Glasslake Funding is unique. For one thing, few can claim to have the backing it does. Glasslake is a wholly owned subsidiary of U.S.-based Bayview, a global investment firm with over $15 billion of assets under management. It

Hundreds of thousands of floating-rate mortgagors have one primary goal: maximizing monthly cash flow. For them, fixed-payment variable-rate mortgages are fantastic when rates are soaring —  not so much when rates are sinking. When the prime rate drops, these people also want their payments to drop.

A lot of mortgage brokers will be surprised it took this long. First Swiss, a private mortgage lender known for its seemingly insane high-fee, high-rate, 95%-LTV last-resort second mortgages, has gone belly up.   A receiver was appointed after the Financial Services Regulatory Authority of Ontario (FSRA) made a court