Tara Sevigny

Did you know ? As of October 11, 2024, new anti-money laundering (AML) regulations from FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) will come into effect, impacting various sectors including the mortgage industry, correspondent banking relationships, and funding mechanisms for FINTRAC's compliance program. Mortgage brokers, administrators, and lenders will now be subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) yThese entities are required to implement AML and anti-terrorist financing (ATF) compliance programs. Key obligations include: - Establishing a compliance program with a designated compliance officer, regular risk assessments, and staff training. - Verifying clients' identities, maintaining detailed records, and reporting large cash transactions, large virtual currency transactions, and suspicious activities to FINTRAC Mortgage professionals and financial institutions need to stay compliant with these updates or risk significant fines and reputational damage https://lnkd.in/gm4AupFm

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WE RECOGNIZE THERE IS MORE TO BE DONE … 🧡 At TD, we recognize there is more work to be done on our journey towards #Truth and #Reconciliation. We believe society is stronger when we work together, and we can help be a catalyst for dialogue to bring people, communities, and cultures together. Learn more about our support for #Indigenous communities — colleague, community & customer. td.com/indigenous

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This week in mortgage news, we learned that as inflation unexpectedly rises, the Bank of Canada faces a challenging decision on how to manage interest rates moving forward. The central bank may need to maintain or even increase rates to curb inflation, but there is also anticipation for potential rate cuts by mid-2024 to stabilize the economy and the mortgage market. 🔑 Three Key Takeaways 🔑 🏡 Unexpected Inflation Increase: Canada's inflation rate recently rose to 4.4%, marking a significant deviation from its downward trend, driven largely by rising mortgage interest costs and rental prices. 🏡 Bank of Canada's Dilemma: The unexpected inflation spike complicates the Bank of Canada's plans. While there is pressure to keep rates high to manage inflation, economic forecasts suggest rate cuts might be necessary by mid-2024 to prevent economic slowdown and assist mortgage holders facing high renewal rates. 🏡 Impact on Mortgage Market: A substantial portion of Canadian mortgages will be up for renewal at much higher rates by 2025-2026, putting financial strain on borrowers. A timely reduction in interest rates could mitigate this impact, although the Bank is cautious about the timing and extent of such cuts. ➡️ Given the recent rise in inflation and the looming mortgage renewals, how should the Bank of Canada balance the need to control inflation with the potential risks to economic growth and financial stability? ⬅️ Send me a DM for a link to the article! 📩 • • • Like ♥ this post if it resonates with you! 🔒Save it for later, and tag a friend if this can help them! 👯‍♀ • • Follow Erica Vincelli Mortgage Agent for more great mortgage tips!

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Heads Up!... Want to easily connect with people when you meet for the first time or when see your friends and family?... I do!... Here’s something I learned today that I’d like to share that might help… I had a manager once that said, “Don’t ask; ‘How are you?... Its insincere and they know you don’t really care.”  Plus, if you ask a stock question, you’ll get a stock answer.  “How are you?”… “Fine… Now what do you want?!” So, over the years I’ve tried to come up with other options that are more engaging and simple conversation starters.  I came up with “So, what’s keeping you busy today?” Like I’m some revolutionary in the art of interpersonal interactions! 😳 This morning, I was listening to a Mel Robbins Podcast (April 25, 2024) that featured Vanessa Van Edward who is best-selling author and founder of The Science of People which is a behaviour lab that studies high achievers and the science of confidence and body language.  What I came to understand is that while I thought “So, what’s keeping you busy today?” was sincere and engaging, it unfortunately puts people in a negative mindset by making them think about all the things that are keeping them busy and maybe adding stress to their lives.  Well, that’s not good!  Now, instead of showing them I’m interested, their mind frames me as being the stimulus of negativity! That is not a good way to start an interaction! So, here are some conversation starters that Vanessa has devised from her research and shared with Mel on the podcast that might help your interactions have a more positive and optimistic outcome. -       “What’s been good this week?” -       “Working on anything exciting this week/these days?” -       “What’s been the highlight of your day/week?” -       “Have any fun plans coming up?” Hopefully this will help this will help create a more positive impact on your interactions with others and, let’s be honest, more optimism and positivity is pretty good! If you’ve made it this far, can you help me with something? Can you download my mortgage app (https://lnkd.in/gvQA5x76) and share it with 2 other people? It could be; clients, colleagues, friends, or family.  Unfortunately, I’ve found that there is an important lack of understanding around all the various options available when it comes to the various mortgage products and the role personal financing strategies serve in a wholistic and robust financial future! All my contact information is in the app if you feel more comfortable making a connection with me over text or email!

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Wow! The recent statements by Bank of Canada Governor Tiff Macklem reflect a concerning detachment from the fundamental economic principles that should guide central banking policy. Macklem's assertion that the "balance of worries is shifting" from inflation to the risk of inflation falling too far reveals a misunderstanding of both the historical and practical realities of managing the economy. Firstly, the idea that the central bank should now be worried about inflation falling too far is reminiscent of the notion that economic stability can be controlled by constant intervention. History has shown that such attempts often lead to unintended consequences—most notably, the creation of asset bubbles and the misuse of resources. Instead of trying to fine-tune the economy, the central bank should focus on maintaining monetary stability. Macklem's comments on the need for "somewhat restrictive policy" are equally puzzling. The notion that the central bank can precisely calibrate the economy by toggling interest rates is an overestimation of the central bank's capabilities. The persistent high levels of household debt in Canada, and the fact that per-capita GDP growth has contracted for four consecutive quarters, indicate that previous policies have already distorted the economic landscape. Lowering rates further, in hopes of stimulating growth, risks exacerbating these distortions. Moreover, the worry about inflation not reaching the 2% target ignores the fact that inflation is not uniform. Different sectors of the economy experience inflation in varied ways. True economic health cannot be measured by a single number, but by a range of indicators that reflect the real economic well-being of the populace. The further reference to the potential trade disruptions under a possible second term of President Donald Trump highlights the misplaced focus. While trade policies certainly affect the economy, the central bank's primary responsibility is not to engage in speculative concerns about political outcomes, but to provide a stable monetary foundation upon which businesses and consumers can make informed decisions. The central bank's role should be to provide stability, not to experiment with new tools like quantitative easing, which have long-term consequences that are not yet fully understood. Economic freedom and market mechanisms, not central bank interventions, are the true drivers of prosperity. https://lnkd.in/gMfRnvmY #economicpolicy #economicfreedom #monetarypolicy #centralplanning #economicstability #freemarket #capitalism #inflation #bankofcanada #interestrates

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This article spoke to me! Great leaders support an environment where their team can learn and innovate. During this process, there will be opportunities identified that teach us what works well, and where we can improve. What defines our character is in the uncomfortable middle. What are we learning? How can we apply what we have learned to future decisions in order to be better? How can we celebrate the amazing wins? Every successful person has failed 1000 times. Never be afraid to try, you might be amazed at what you learn. 😊

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🌧️🏠 Halton Region Enhanced Basement Flooding Prevention Subsidy Program: A Must-Know for Homeowners and Buyers! 🏠🌧️ As a mortgage agent, I understand that protecting your home is as important as acquiring it. Halton Region has introduced the Enhanced Basement Flooding Prevention Subsidy Program to help homeowners safeguard their properties against flooding. This program offers financial assistance for: 🔹 Downspout disconnection (up to $500) 🔹 Weeping tile disconnection and sump pump installation (up to $5,000) 🔹 Backwater valve installation (up to $675) 🔹 Sewer lateral lining and repair (up to $2,000) Flooding can cause significant damage to homes, leading to costly repairs and decreased property value. By taking advantage of this subsidy, homeowners can invest in preventive measures that not only protect their homes but also enhance their long-term property value. For detailed information, check out the link below. If you’re considering buying a home, refinancing, or simply want to discuss how this program can benefit your property, feel free to reach out. Let's ensure your home is safe and sound, rain or shine! 🌧️💼🏡 📲 416-843-8377 / 📧 [email protected] #RealEstate #Homeownership #FloodPrevention #MortgageAgent #HaltonRegion #HomeSafety #Oakville #Milton #Burlington #HaltonHills

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HAPPY MONDAY! 😊❤️ Sending you smiles, good vibes, and good energy for a fantastic week! 😊 Wrap yourself in positive vibes and try implementing 10 lessons from 'Getting Things Done: The Art of Stress-Free Productivity'.🤗 1. Capture everything: Externalize your thoughts and commitments by capturing them in a trusted system. This frees up mental space and ensures that nothing falls through the cracks. 2. Clarify outcomes: Clearly define the desired outcomes for each task or project. This clarity helps in prioritizing and taking appropriate actions. 3. Organize systematically: Create a reliable organizational system to categorize and store information, tasks, and reference materials. This system should be intuitive and easily accessible. 4. Review regularly: Regularly review your commitments, projects, and tasks to ensure they align with your goals and priorities. This helps in staying on track and making necessary adjustments. 5. Prioritize effectively: Use a systematic approach to prioritize tasks based on their importance and urgency. This ensures that you focus on the most critical activities. 6. Break tasks into actionable steps: Break down larger tasks into smaller, actionable steps. This makes them more manageable and increases the likelihood of completion. 7. Manage interruptions: Minimize distractions and interruptions by creating dedicated blocks of time for focused work. This allows for deep concentration and higher productivity. 8. Delegate when possible: Identify tasks that can be delegated to others and empower them to take ownership. Delegation frees up your time for more strategic activities. 9. Make decisions promptly: Avoid procrastination by making decisions promptly. Delaying decisions can lead to mental clutter and hinder progress. 10. Maintain a work-life balance: Recognize the importance of maintaining a healthy work-life balance. Allocate time for personal activities, relaxation, and rejuvenation to avoid burnout. #mondaymotivation #happymonday #torontomotivation #happyweek #mondayvibes #motivationmonday #happymonday #motivations #growthmindset #embraceyourself #toronto #inspirechange #enterprenuership #positivevibes #positive

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This is great news! 211 is now *officially* a city-wide emergency service for NON POLICE LED mental health. The Toronto Community Crisis Service (TCCS) was formally launched city-wide as the City of Toronto’s fourth emergency service. The TCCS is a non-police-led, 24/7, community-based, client-centred and trauma informed response to mental health crisis calls and wellness checks. Over the last two years, the TCCS has quickly developed from a pilot program into a city-wide service. It has responded to nearly 18,000 calls for service since its pilot launch in early 2022 and allows our overall emergency service resources to be deployed more effectively. The 2024 City Budget made critical investments in the TCCS, which enabled the City and its TCCS partners to accelerate the hiring and training of more than 100 community crisis workers to expand the service city-wide. The TCCS provides free, confidential, in-person mental health support from mobile crisis teams to Toronto residents 16 years of age or older 24 hours a day, seven days a week. Residents should call 211 to be connected to the TCCS. https://lnkd.in/gbKG8Vmf

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Get a credit of up to 100% of your first-year POS terminal rental fees* with Moneris Go. Plus, with RBC and Moneris®️, you get your payments the next day, everyday* - at no extra cost! Start saving today, learn more: #retailbusiness #franchise

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Are you a founder building your startup dream team? Ditch the C-suite checklist and optimize for cultural fits while strategically balancing your workforce. Read this and other essential advice from a founder who’s been there. Quick growth forced Winnipeg-based startup Gryd to scale from two to 30 in a short period. CEO & co-founder Josh Glow shares how he did it with RBCx, and tested strategies for making key hires, fostering culture and avoiding turnover. https://bit.ly/3N0vOTl #RBCxPowersBold #founder #startup #mycompany

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Are you a founder building your startup dream team? Ditch the C-suite checklist and optimize for cultural fits while strategically balancing your workforce. Read this and other essential advice from a founder who’s been there. Quick growth forced Winnipeg-based startup Gryd to scale from two to 30 in a short period. CEO & co-founder Josh Glow shares how he did it with RBCx, and tested strategies for making key hires, fostering culture and avoiding turnover. https://bit.ly/3ZETnsw #RBCxPowersBold #founder #startup #mycompany

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These mukluks are part of Scotiabank’s Truth & Reconciliation Action Plan — they represent a path towards a hopeful future. Learn more about how Métis artisan Heidi Houle created these works of art:

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This Labour Day, take a moment to reflect on your journey and achievements. You've worked hard, and today is your day to recharge and honor that progress. Remember, I might be slower to respond today, but I’m always just a call away if you need me. Enjoy the day—you’ve earned it! 💼✨ #LabourDay #SelfCare #ReflectAndRecharge #WynterlandFinancial #FindYourTribe #PoweredbyTribe

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Can BDC really help you with sales and marketing? Absolutely! I encourage you to discuss your sales and marketing strategy concerns with one of our experts at BDC Advisory Services. You’ll benefit from a structured approach to reach your goals faster.

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