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Old 12-02-2016, 07:50 AM   #1
Mortgage Made Easy
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Default National Bank Exits Broker Chanel

National Bank announced Dec 1 it will be closing their internal broker channel effective December 9th.

Announcement

National Bank has outsourced their origination to MERIX Financial to leverage their solid industry reputation in the mortgage broker channel as well as all underwriting and servicing.

MERIX Financial is one of the top 10 Mortgage Lending Institutions in Canada.

More info to follow... it is too early too tell whether or not some of their products will be offered through MERIX or not. It will take the next 6-12 months to see how these changes and the mortgage rule changes play out.
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Old 12-02-2016, 02:22 PM   #2
MillerTime GFG
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Originally Posted by Mortgage Made Easy View Post

More info to follow... it is too early too tell whether or not some of their products will be offered through MERIX or not. It will take the next 6-12 months to see how these changes and the mortgage rule changes play out.
Really curious as to whether they're still going to offer the All in One account through Merix. I'm hoping so.
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Old 12-02-2016, 02:33 PM   #3
Mortgage Made Easy
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Originally Posted by MillerTime GFG View Post
Really curious as to whether they're still going to offer the All in One account through Merix. I'm hoping so.
Great question... for NOW it is not. Merix used to have the HELOC and I have heard that they have been working on it but has not been a priority to date... the next 6 + months will tell how lenders adapt to the changes.
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Tim & Colton
Mortgage. Made Easy Experts
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or email puckforum@cgymortgage.com

Click here to View current Mortgage Rates

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Old 12-02-2016, 02:43 PM   #4
MillerTime GFG
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Nonetheless, great timing by Manulife to re-enter the broker channel. Should see a boost in their M1s if National Bank does indeed discontinue the AIO through Merix.
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Old 12-02-2016, 02:50 PM   #5
Mortgage Made Easy
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Originally Posted by MillerTime GFG View Post
Nonetheless, great timing by Manulife to re-enter the broker channel. Should see a boost in their M1s if National Bank does indeed discontinue the AIO through Merix.
Agreed... its great that you and I have access to Manulife... not many do. Cheers.
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Tim & Colton
Mortgage. Made Easy Experts
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or email puckforum@cgymortgage.com

Click here to View current Mortgage Rates

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