Greater Toronto Area Has Significantly Influenced The Mortgage Profession

Question 1
The hot real estate market in Greater Toronto Area has significantly influenced the mortgage broker profession. Mortgage brokers are individuals who serve as intermediaries between the homeowners or rather the borrowers and the mortgage lender, in most instances banks. Currently, reports indicate that an average home in GTA costs more than 916, 567 Dollars,a relatively high value. The mortgage professions are influenced by the increase by the increase in house prices. The increase in the cost of houses has meant that most of the middle earners cannot afford such commodities. Moreover, with few having such income to guarantee a mortgage at a reduced interest, most of the lenders and banks have increased their rate. As a result, the

With most of the mortgage, borrowers pay interest and capital on agreed period, usually referred to repayment mortgage period. At the start, the major repayments are used to pay off the interest with just a small part dropping the capital. As mortgagors move closer to clearing the full amount, repayments switch to paying more of the capital. Individuals can opt for an interest-based mortgage, where they only pay the interest in each month, although they will ultimately have to pay the capital. However, few of the lenders are currently offering an interest-only

As stipulated in CFP Board’s Code of Ethics, they have an obligation to maintain the integrity principles, competence, fairness, objectivity, confidentiality, diligence, and more importantly professionalism. CFP Rules of Conduct demands the professionals have to put their customers’ interests first. All professions are subject to sanctions if they fail to adhere to CFP standards. Serial offenders of CFP guidelines face the risk of permanent revocation of certification. On the other hand, CPA professionals are required to adhere to certain ethical standards. They are required to have integrity and be responsible. Moreover, they must maintain objectivity and independence as well as place the interests of the public ahead of those of an