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Fee models and broker responsibility

The head of one leading lender believes trailer fees are here to stay – and that it is the brokers’ responsibility to ensure the endurance of the model.

“Unless brokers make this a need and a want, the lending community itself will never change; it’s their business, their future and their value,” Boris Bozic, president and CEO of Merix Financial told MortgageBrokerNews.ca. “Our mindset in the industry is an eat what we kill mentality and then we move on to the next kill, versus looking at this application and this kill and wondering how much more we can earn off this one particular application in the future.

Resource By : http://www.mortgagebrokernews.ca/news/fee-models-and-broker-responsibility-192467.aspx

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