Bank is 7 days behind (and its not their problem)

Here is an excerpt from a major bank in Canada that sent a message to brokers today (keep in mind that today is October 18)

“we…currently working on deals that were submitted on Friday October 11…please set proper expectations with your clients and referral resources…”

There is much more to the message but you get the idea.  This bank is only looking at requests they received October 11 and are running a week behind.  Why is this important? Continue reading “Bank is 7 days behind (and its not their problem)”

That moment when someone asks “can you afford it”

I had breakfast today with a colleague who is in the commercial industrial sales/leasing market and we were talking about that moment he has with clients when they do a gut check about financing.  He gave me some examples of clients that take months to consider a real estate transaction only to get to a point where then have to answer questions like: Continue reading “That moment when someone asks “can you afford it””

Ok – so when do I get the money?

I heard this questions twice in one hour today from individuals looking for money and thought I would take a moment to speak about it for everyone who is not in our business as a way of letting you into our world.

It seems more and more theses days that we have less and less time. Certainly when it comes to borrowing money most people don’t want to get bogged down in the “stuff” associated with mortgages and loans. Credit reports, applications, numbers, financial statements and what seems to be a million other things are just Continue reading “Ok – so when do I get the money?”

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One man’s junk is another man’s treasure

In pondering some of the challenges that Canadian banks are facing with respect to their margins and product offering, I read an article today in the Financial Post (Canadian plants putting Detroit’s oil sands waste pile to use) that seemed to serve as a great reminder of how a problem for one person can result in an opportunity for another.  The story details how a Canadian electrical power plant is burning a stockpile of Continue reading “One man’s junk is another man’s treasure”

US to short Canadian banks

The following article has some interesting points in it about the Canadian real estate market and banks (see http://www.financialpost.com/m/wp/news/fp-street/blog.html?b=business.financialpost.com/2013/05/30/why-its-dangerous-to-short-the-canadian-banks) and their short term future. For those of us who actively work in the market with banks to get individuals and businesses money it has not been easy since the financial crash and seems each day to be getting harder. Continue reading “US to short Canadian banks”

NIM (not short for nimrod) getting squeezed in Canada

There was an article posted today in the Financial Post that was headlined “End-of-the-party feel to BMO results” (see http://business.financialpost.com/2013/05/29/end-of-the-party-feel-to-bmo-results/“) which continued the recent run of articles on the declining or thinning NIM of the major banks in our county. NIM stands for Net Interest Margin or basically the spread that a bank earns between the bank’s cost of money and the interest rate that they earn on lending it out to consumers and businesses.

Continue reading “NIM (not short for nimrod) getting squeezed in Canada”