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With New Mortgage Rules, Prepare for More Paperwork

Private jumbo mortgages could soon become harder—and pricier—to get. New rules announced last week by the Consumer Financial Protection Bureau will tighten lending standards in the private-mortgage market. The changes, which start in 2014, will ban lenders from issuing loans if they don’t verify a borrower’s income or assets. The CFPB rules are meant to ensure that home buyers have the ability to...

Mortgages and Private Lenders and What You Should Know

Private lending secured by mortgages against real property represents a significant area of activity within the residential real estate market. There are a multitude of reasons why borrowers seek to obtain financing from private lenders. These include: greater restrictions on traditional bank and trust company lending requirements, such as loans based on land value rather than borrower income; borrower’s that...

J.D. Irving Ltd. to invest $513M in its mills

The announcement comes on heels of new provincial forestry strategy being unveiled. The $450 million in upgrades at the Irving Pulp & Paper mill in west Saint John be done in two phases, starting this spring. J.D. Irving Ltd. is investing $513 million in its mills across New Brunswick, the company announced to a standing ovation at its west Saint John pulp and paper mill on Thursday. The announcement comes...

Mayor Mel Norton : Why I’m an optimist on Saint John

Attitudes have serious, real-world consequences; change your attitude and you change your world. Currently visible signs of positive change and rebirth in Saint John – changes that are consolidating our status as New Brunswick’s economic powerhouse – are not difficult to discern. In no particular order of importance, here are some of my favourites: A new municipal plan, focused on complete neighbourhoods,...

A Snapshot of Private Lending : The name of the property investment game for the next 2 years

When real estate investors pursue funding, one of the last places they look to is private lenders. In fact, most investors often view private lending as a big no-no, or at least the very last stop on the road to real estate investing. But new regulations and restrictions from traditional financing have influenced a trend in recent years and months of savvy property investors changing their view of private lending....

NB: Province investing in Port Saint John to establish home port for cruise ships

New Brunswick is making a three-year investment to help Port Saint John become a home port for cruise ships, including expedition-class vessels. Tourism, Heritage and Culture Minister Trevor Holder’s Feb. 18 announcement coincided with the completion of a study by Dillon Consulting Ltd., that found that the port is well-suited to become a home port for expedition-class ships in the near future.

 “This...

Bell Aliant to build $25M data centre in Saint John

Province commits $5 million to project billed as one of North America’s most advanced centres. The announcement of the project was made Tuesday in Saint John by Karen Sheriff, the president of Bell Aliant. The centre will cover 2,160 square metres (24,000 sq. ft) and is being built to meet the current and future needs of the information and communications technology sector in New Brunswick. “Businesses...

Crude oil spills are bigger from trains than pipelines

The flaming wreckage of a derailed train carrying crude in northern New Brunswick once again calls into question the safest way to transport crude oil across Canada. A Global News analysis found that train spills in transit are larger than those from pipelines. And trucks, though they have a higher rate of accidents, tend to spill much less. The Transport Canada database doesn’t include the most recent train...
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