Mortgage volumes in the broker channel continued to grow in the fourth quarter. D+H data reportedly confirms that brokers did 12% more business in Q4, versus the same period last year.
Some of that business was an attempt by borrowers to beat the government’s mortgage rule changes. Those policies came into effect on October 17, 2016 (new high-ratio insurance restrictions), November 30, 2016 (new low-ratio insurance restrictions) and January 1, 2017 (new insurer capital requirements).
But these weren’t the only headlines last quarter.