https://www.mortgagebrokernews.ca/news/number-of-highvalue-mortgages-spikes-in-toronto-337501.aspx According to Shawn Stillman, principal broker at Mortgage Outlet, a potent driver of this development was the work-from-home revolution, which pushed down household costs significantly. The prevailing environment of record-low rates and the federal government’s financial assistance programs also significantly boosted the general public’s purchasing power. “People are still looking around and have […]

  https://www.mortgagebrokernews.ca/people/the-power-of-referrals-335791.aspx Christelle Mwamba is a wealth of knowledge. She’s spent the past decade working with financial advisors and high-net-worth clients looking to grow their real estate investment portfolios, finding creative solutions and relying on strong lender relationships to get deals done. “With self-employed clients, a lot of their money stays within their business, so […]

https://www.mpamag.com/ca/mortgage-industry/business-growth/shawn-stillman-faith-and-grit-are-a-brokers-most-powerful-tools/287992 The road to success in the mortgage space is a craggy, winding one – a fact that Shawn Stillman (pictured), broker and co-founder of the Toronto-based Mortgage Outlet, emphasized in his advice to industry newcomers. “I first got my license in September 2009, but I actually did not close my first deal until March […]

https://financialpost.com/real-estate/mortgages/dont-pay-til-you-die-reverse-mortgages-are-booming-in-canada Reverse mortgages are surging in Canada as more older people join the country’s debt bandwagon.If you’re 55 or older, you can borrow as much as 55 per cent of the value of your home. Principal and compound interest don’t have to be paid back until you sell the home or die. To keep the […]

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-ottawas-first-time-home-buyer-incentive-who-wins-and-who-loses/ It’s an especially good tactic for short-term homeowners to save interest and premiums, on the backs of taxpayers. “That’s gaming the system,” says mortgage broker Shawn Stillman of Toronto-based Mortgage Outlet Inc. “But that’s not what the government wants. It wants people in their houses long term because it’s losing money if they’re not. […]

https://financialpost.com/real-estate/mortgages/meet-the-alternative-mortgage-lender-whos-become-a-last-resort-for-desperate-homebuyers-bigger-banks-wont-touch ‘We tell the borrowers if you are dishonest to us, it’s like pulling a loaded gun on yourself’ When prospective borrowers sit down in the boardroom to negotiate a loan at one of Canada’s largest alternative lenders, they’re greeted by a sculpture of a gun with its barrel twisted back toward the shooter.

  https://torontostoreys.com/million-dollar-mortgages-toronto-lowestrates/ Shawn Stillman, principal broker at Mortgage Outlet, told LowestRates he’s now seeing larger mortgages in the GTA than he did before the pandemic. “Up until this year, mortgages of $1 million or more have been rare,” said Stillman. In the 10 years Stillman has been a mortgage broker, he told LowestRates he’s done […]

  https://www.mortgagebrokernews.ca/news/tips-for-rookies-from-some-of-canadas-top-brokers-332612.aspx “Top brokers are having record years,” said Mortgage Outlet’s Elan Weintraub. “I think newer people are not necessarily getting in on that.” Weintraub’s advice for mortgage newbies was simple: Work your asses off. “When I look at this panel, this panel of top producers, they’re literally all working eight, ten, twelve hours a […]

  https://www.realtor.ca/blog/postpage/14024/1361/everything-you-need-to-know-about-reverse-mortgages Now more than ever, Canada’s experienced homeowners are tapping into their home equity in exchange for cash, a process known as a reverse mortgage.  Over the years, this type of mortgage loan has grown in popularity among seniors. In fact, in January 2020, reverse mortgage debt reached a new record of $4.03 billion, […]

  https://www.mortgagebrokernews.ca/people/shawn-stillman-faith-and-grit-are-a-brokers-most-powerful-tools-330040.aspx The road to success in the mortgage space is a craggy, winding one – a fact that Shawn Stillman (pictured), broker and co-founder of the Toronto-based Mortgage Outlet, emphasized in his advice to industry newcomers. Another indispensable component to long-term success is a focus on the exact needs of one’s customers. “I try […]