Why brokers need to move faster as renewals heat up
Ajram spoke on a prime lending panel moderated by Michelle Campbell, president of the Canadian Mortgage Brokers Association – Ontario (CMBA-ON).
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Why bank retention teams are winning renewal conversations
Jamie Doolittle, head of BMO BrokerEdge, said lenders have changed their approach.
“When it comes to renewals, I will say that I think the banks have been way more proactive in managing that renewal wave than we have in the past. We had to, like there’s so many happening right here. We want to retain our customers. We want to continue to grow our business,” Doolittle said.
He warned that bank offers will arrive early and lean on price.
“You know, the banks are gonna send them offers. It’s probably gonna be very focused on the rate. If you can get ahead of them and have those, again, quality conversations about how things have changed, what are they looking for, maybe they need a refinance, what’s most important to them today,” he said.
