Author Archive

Author Archive

Elan Weintraub Quoted on Mortgage Broker News – Tips for rookies from some of Canada’s top brokers

Posted on August 29th, 2020 by Shawn Stillman

  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 […]

Shawn Stillman Quoted on Mortgage Broker News – Faith and grit are a broker’s most powerful tools

Posted on June 2nd, 2020 by Shawn Stillman

  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. “I first got my license in September 2009, but I actually did not close my first deal until […]

Phil Cragg Quoted on Mortgage Broker News – What makes a mortgage professional a top contender

Posted on May 18th, 2020 by Shawn Stillman

  https://www.mortgagebrokernews.ca/people/phil-cragg-on-what-makes-a-mortgage-professional-a-top-contender-329580.aspx With an established track record of service to first-time homebuyers, owners seeking refinancing, and individuals with bruised credit alike, Phil Cragg of Mortgage Outlet has risen through the ranks to become one of the organization’s top Ottawa-based professionals. Cragg attributed his success to an appetite for excellence that stemmed from even before his […]

Shawn Stillman Quoted on The Financial Post – Some Canadian banks freeze new financing for commercial properties on COVID-19 concerns

Posted on May 7th, 2020 by Shawn Stillman

  https://financialpost.com/pmn/business-pmn/some-canadian-banks-freeze-new-financing-for-commercial-properties-on-covid-19-concerns Some owners who are unable to sell their properties are refinancing with alternative lenders at higher rates, adding to pressure on the struggling small to medium business sector. Mortgage Outlet broker Shawn Stillman said two clients who had letters of intent signed to refinance with Bank of Montreal were told the bank was […]

Shawn Stillman Quoted on Canadian Mortgage Trends – Why Are Mortgage Rates Rising?

Posted on March 18th, 2020 by Shawn Stillman

  https://www.canadianmortgagetrends.com/2020/03/mortgage-rates-rising/ “I think if you’re a bank, you’re scared of losses right now,” Shawn Stillman, founder of mortgageoutlet.ca, told CMT. “The banks are in this to make money, and if they don’t think that they’re going to be able to make money because all of a sudden their default rate is going to go […]

Shawn Stillman Quoted on WealthProfessional.ca – Doors open for stronger reverse-mortgage use in Canada

Posted on January 17th, 2020 by Shawn Stillman

  https://www.wealthprofessional.ca/news/industry-news/doors-open-for-stronger-reverse-mortgage-use-in-canada/324942 The costs of taking on a reverse mortgage may also be unclear to seniors. “When they think of their cash flow, they’re not going to get kicked out of their house, but in reality, it really has the ability to erode the asset of the borrower,” Shawn Stillman, a broker at Toronto-based Mortgage […]

Shawn Stillman Quoted on BNN Bloomberg – Don’t-pay-til-you-die reverse mortgages are booming in Canada

Posted on September 18th, 2019 by Shawn Stillman

  https://www.bnnbloomberg.ca/don-t-pay-til-you-die-reverse-mortgages-are-booming-in-canada-1.1316615 “When they think of their cash flow, they’re not going to get kicked out of their house, but in reality, it really has the ability to erode the asset of the borrower,” Shawn Stillman, a broker at Mortgage Outlet, said by phone from Toronto.

Shawn Stillman Quoted on The Globe and Mail – The truth about Ottawa’s First Time Home Buyer Incentive (and you’re probably not going to like it)

Posted on July 18th, 2019 by Shawn Stillman

  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 […]

Shawn Stillman Quoted on Mortgage Broker News – Toronto real estate ripe for laundering money

Posted on June 2nd, 2019 by Shawn Stillman

  https://www.mortgagebrokernews.ca/news/toronto-real-estate-ripe-for-laundering-money-255966.aspx In the broker channel, Shawn Stillman, says there are more measures in place to parry suspicious activity, but, like Smith, he noted A lenders are more susceptible fraudulent activity.  “Most of our lenders don’t allow us to do mortgages through corporate entities and it has to be held in a personal name, so […]

Elan Weintraub Quoted on Mortgage Broker News –BoC touts long-term mortgages to open MBS market

Posted on May 8th, 2019 by Shawn Stillman

  https://www.mortgagebrokernews.ca/news/boc-touts-longterm-mortgages-to-open-mbs-market-257119.aspx Lenders are chary about propagating the advantages of long-term mortgages because they don’t want to be exposed to the market for that long, but Sammut says that the MBS market would free capital for long-term mortgage loans, which banks would then price aggressively. But is a long-term mortgage really the best thing for […]