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ISSUE 10.7

CONTENTS

YOUNG GUNS COVER STORY

Meet 39 of the Canadian mortgage industry’s most promising young professionals

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ISSUE 10.7

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CONTENTS

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UPFRONT 04 Editorial

Are brokers losing ground on first-time buyers?

06 Statistics

What the burgeoning condo market means for your business

08 Head to head

Is another rate cut on the horizon?

10 News analysis

50 FEATURES

CREATING SHAREABLE SOCIAL MEDIA VIDEOS

Five tips for making videos that beg to be shared

48 PEOPLE

BROKER PROFILE

Mint Mortgage founder Sarah Schiess is cutting through the jargon and making mortgages relatable

Despite tighter guidelines, young buyers aren’t hurting for down payments

12 Branch network update

Network heads call for mortgage associations to unite

14 Private lending update

When do interest-only mortgages make sense for clients?

16 Opinion

What the latest update to the Condominium Act means for buyers – and for brokers

PEOPLE

INDUSTRY ICON

55 Career path

56 Other life

Brian Hogben’s jump from real estate investor to mortgage broker

Dominion Lending Centres president Gary Mauris weighs in on what the industry is doing right, and where it still has room for improvement

Cory Rowland’s (barefoot) life on the water

52 FEATURES

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UPFRONT

EDITORIAL

www.mortgagebrokernews.ca ISSUE 10.7 EDITORIAL

First-time trouble

ry as they might – through boom and through bust – road reps have struggled to make inroads into the single most important client demographic for mortgage brokers – until now, that is. A new report from the broker channel’s leading national association suggests road reps are gaining ground in their ability to court and co-op first-time buyers. The CAAMP survey, conducted between January 2013 and May 2015, found mortgage brokers were able to take 64% of first-time buyers “from consult to sale.” Road representatives, meanwhile, were able to convert 63%. This represents a near-meteoric rise for road reps, who’ve traditionally lagged as much as 10 percentage points behind their broker competitors. That’s still true to a lesser extent – at least on the front end, where some 75% of first-

Why, even with that head start, are brokers crossing the line with the same number of first-timebuyer deals as their chief rivals? timers consult with a broker, while only 61% report having met at least once with a road rep in their hunt for a home loan. The question for brokers is: Why, even with that head start, are they crossing the line with the same number of first-time-buyer deals as their chief rivals? The traction road reps are gaining with first-timers – success driven in large part by today’s increasingly competitive market – brings those reps too close for comfort, say brokers. They point to bank messaging that seems to be resonating with first-time homebuyers. But brokers on the ground say the fact that more than half of Canadian homebuyers are consulting with a mortgage broker at all is quite remarkable. “[Banks] have the opportunity that we don’t have,” says mortgage veteran Dustan Woodhouse. “Potential first-time homebuyers already have an existing relationship with that financial institution. So how does a broker fight that advantage?” The answer, he posits, lies somewhere on the World Wide Web. “First-time homebuyers are the Internet generation,” he says. “So they’re researching, and they’re coming across mortgage brokers and realizing there’s an independent agent who will work for them for free.” Vernon Clement Jones, editor

Editorial Director Vernon Clement Jones Senior Writer Justin da Rosa Writers Olivia D’Orazio Jordan Maxwell Executive Editor – Special Features Ryan Smith Copy Editor Clare Alexander

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UPFRONT

STATISTICS

House or condo?

GROWING OPPORTUNITY Condo owners are more likely to break or refinance their mortgages before the end of the term, giving brokers more business in the process. So which Canadian cities are offering brokers the most business? Here’s a breakdown of 2014 detached home and condo sales across Canada.

As Canada’s population continues to swell – especially in some of the country’s more metropolitan areas – condos are becoming an increasingly popular option for all demographics FORGET URBAN versus suburban. The newest debate is about property types: specifically, condo (or strata) properties versus detached or semi-detached homes. Condos are an affordable option for firsttime buyers, those new to the country and those looking to downsize. However, detached homes remain popular for growing families and those seeking freehold living quarters. While detached properties far outnumber condo units in every Canadian province, the sales and prices of condos are growing, particu-

844.4%

Number of updates to the Ontario Percentage growth in occupied Condominium Act since 1998 condo units between 1981 and 2011

larly in Vancouver and Toronto. Demand for housing is still driving new single-family home construction in the suburbs, which is currently outpacing condo construction. But strata properties are slowly spreading to some of the country’s suburbs as the inventory of detached properties dwindles, pushing prices up. That’s one trend that’s likely to gather pace in the coming years as condos currently under construction reach completion and developers embark on new projects.

19%

Percentage of condo owners who are younger than 35

Vancouver

58.7% 41.3% Victoria

69.2% 30.8%

29%

Percentage of condo owners who are older than 65 Source: CMHC, Canadian Housing Observer 2013

TALL ORDERS IN TORONTO AND VANCOUVER

HOW DO YOU TAKE YOUR HOME?

It’s no surprise that Toronto and Vancouver have some of the strongest condo markets in the country, and condo sales and prices continue to increase

11% Single detached

14.1%

10.2%

Condo

Vancouver Toronto

Row house, townhouse or duplex

3.8% 5.2% Increase in annual sales, 2014 (YOY)

28%

Most homeowners prefer detached properties, followed by condos. But there is still a large portion of Canadians living in row houses, townhouses and other semidetached properties

56%

Semi-detached

Increase in average price, 2014 (YOY) Source: CREA, 2014

Source: StatCan, Census 2011

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Detached

London and St. Thomas

Condo

93.5% 6.5%

Edmonton

80.8% 19.2%

Newfoundland & Labrador

Hamilton-Burlington

96.2% 3.8%

89.4% 10.6%

Calgary

82.1% 17.9%

90.2% 9.8%

Toronto

76.1% 23.9% Ottawa

Montreal

90.6% 9.4%

Saskatoon

76.1% 23.9%

St. John’s

Saint John

66% 34%

98.2% 1.8% Halifax-Dartmouth

Regina

83.5% 16.5%

91.2% 8.8%

Source: CREA 2014, TREB 2014, GMREB 2014

BUILD UP, BUILD OUT

SPOTLIGHT: EAST COAST

The year-over-year change in building permits paints a varying picture across the country. On the West Coast, more detached properties were being built in 2014 than the year before, but in Saskatchewan, Manitoba and Quebec, growth in permits for condo construction far outpaced that for detached properties

The West Coast tends to dominate when it comes to condo sales, but the East Coast market is slowly growing. However, while transactions have risen, year-over-year prices have dipped

20%

15%

15% 0%

Detached

11%

Other

-19%

ish Brit mbia u l Co

16%

a ert

Alb

n wa che t a k Sas

-11%

-17%

-7%

-12%

-16% -24%

a tob

ni Ma

ario Ont

bec

Que

-16% -23%

-27%

-24%

-43% d ard a i lan t Edw d und dor New wick Sco e o f c a a ns Prin Islan Nov New Labr Bru & Source: CMHC, Preliminary Housing Start Data 2014

Annual sales Saint John 35% Halifax-Dartmouth 3% St. John’s 8% Median price Saint John -4% Halifax-Dartmouth -5% St. John’s -2% Source: CREA, 2013 and 2014

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UPFRONT

HEAD TO HEAD

Are we headed for another interest rate drop? The OECD recently downgraded the GDP forecast for Canada to 1.5%, potentially setting the stage for more rate stimulus

Angela Calla

Sébastien Lavoie

Scott Bentley

Mortgage expert Dominion Lending Centres

Assistant chief economist Laurentian Bank Securities

Mortgage broker Verico Premiere Mortgage Centre

“It’s certainly a possibility. Rates were in a position to drop instead of rise in January, and that’s exactly what happened. I think if rates drop, the lenders may not follow or change their offerings. It only really impacts affordability if clients take a five-year fixed once the lenders have decided how or if they will follow. Mortgages in the news get people thinking and talking about consult ing a true professional for clarity – that is good news! We have to watch employment and other economic indicators to determine the best course of action. I think it’s likely to stay put, but it’s not unrealistic to think that a rate reduction is a possibility. Crazier things have happened in the rate market.”

“We’re part of a small group of economists thinking the rate cut in January was not enough. The inflation numbers will stay below target, and as time goes by, the Bank of Canada will come to a point where they feel we need additional accommodations to achieve the 2% target. Oil prices rebounded during the spring, but it’s not enough to bring the oil sector back to its glory days. The Fed is also gradually moving toward a rate hike, and if so, the financial conditions in Canada will tighten, and that wouldn’t be welcome by the BoC at this stage. We expect a rate cut at the end of 2015, on the basis that they will have revised down GDP and inflation numbers.”

“The IMF recently revised the growth fore cast downward for the US and suggested the Fed hold off on any rate increases. This data, coupled with Canada’s eco nomy shrinking in the first quarter and the OECD’s downgraded GDP forecast, could assist in laying the groundwork for a rate cut by BoC. However, in the same economic summary, high household debt levels and a few frothy real estate markets may act as a case against further ratedriven stimulus. My sentiments at the moment point to holding steady at the current level, with a keen interest in the tone of the July meeting to further gauge stance for the meeting in October.”

MIXED MESSAGES The entire country breathed a sigh of relief in early June when Finance Minister Joe Oliver told a parliamentary committee that Canada appears to have sidestepped a recession. However, the very next day, the Organization for Economic Co-operation and Development [OECD] cited low oil values as the driving force behind its decision to cut its forecast for Canada’s GDP growth to just 1.5% for 2015. That announcement has left many analysts wondering if the Bank of Canada will again be tempted to lower the already historically low overnight rate in an effort to further stimulate the economy.

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UPFRONT

NEWS ANALYSIS

A mature market Brokers put up a fight against tougher mortgage rules and their punishing effect on first-time buyers, but a couple years on, young clients seem to be winning their own battles with rising down payments WHEN THE federal government brought down the ceiling on amortization from 30 years to 25, brokers began to wring their hands; surely, they thought, first-time buyers – their bread and butter – would find themselves shut out of the market. That was back in the summer of 2012, and broker fears were indeed realized. That lull in business stuck around for at least a year as new purchasers struggled to qualify under more stringent rules. Back then, escalating home prices in key markets such as Toronto and Vancouver were another reason for broker concern. Those increases had begun to place pressure on first-time buyers looking to cobble

“I haven’t run into anybody who can’t come up with the 5% down,” says Paul Mangion, a Mississauga-based broker with The Mortgage Centre. “That could just be the demographics we’re going after, but down payment is never an issue.” The industry veteran is not alone in making the observation – nor is he the first. As early as July 2013, a BMO report proffered the idea of the unsinkable mortgage borrower. More specifically, it suggested that while first-time buyers were challenged by a 25-year amortization cap and growing home prices, they were quietly and assiduously working to overcome them. According to the study, about 19% of

“I think they’re afraid if house prices keep going up, they won’t be able to buy one, so they accelerate their savings” Paul Mangion, The Mortgage Centre together the 5% down payment needed to win default insurance and therefore government backing. Flash forward to 2015, and any effect those tighter mortgage rules might have had on first-timer buyers appears to have dissipated. For brokers, that key market segment is once again strong, courtesy of the surprisingly deep pockets of even the greenest first-time buyers.

first-time buyers said they were waiting longer to buy. What they weren’t doing was abandoning the dream of homeownership. That kind of prudence and patience is now paying off for Gen X and Y Canadians and the mortgage brokers they, more often than not, turn to for help. “A lot of these buyers have their own money, and they’re not reliant [on anyone],” says Jake Abramowicz, a mortgage agent

with Mortgage Edge. “The people who have their own money are extremely proud of that – and they should be. “They’re always saying, ‘I don’t know how other people are doing it, but this is my money, my RSPs; I’m blowing everything out that I have to make this down payment, but it was all from my savings.’” For his part, Abramowicz sees little evidence that first-time buyers are entering the market solely on the backs of their Boomer parents. “I don’t believe that parents are helping prop up the housing market,” he says. “What’s driving the market is low rates, lack of supply and the HGTV-ization of buyers’ mindset: ‘I must have it, it’s easy to do, it’s easy to flip, it’s easy to reno.’” CREA numbers back up that assertion, pointing to double-digit growth of detached

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DOWN PAYMENT PREPARATION First-time buyers are bringing more to the table than ever:

21.8%

Average down payment made by first-time homebuyers

33.4%

Average down payment made by second-time buyers

47.3%

Average down payment made on subsequent purchases How much are first-timers putting down?

The largest group of first-time buyers still goes with 10% of the home’s value as their down payment – but they’re hardly a majority

36% 26% 22% 10% or less

10% to 20%

20% to 30%

12% 30% to 50%

50% to 99%

100%

Source: CAAMP Consumer Report 2015

home sales in key markets across Canada. But it’s the growth in condo sales, especially in Toronto and Vancouver, that speaks more directly to the continuing presence of first-time buyers.

That startling increase in condo demand comes hand in hand with another phenomenon: an increasing number of clients coming with enough down payment to go the conventional route, thereby bypass-

“I don’t believe that parents are helping prop up the housing market. What’s driving the market is low rates ...” Jake Abramowicz, Mortgage Edge In May, condo sales skyrocketed yearover-year in Toronto and Vancouver, gaining 13.2% and 24.3%, respectively. More impressive was the year-to-date performance for May: Toronto condo sales have risen just over 12%, while in Vancouver, they’ve jumped 28%.

ing the need for default insurance. “I would say the majority of our business – 60% or 70% – is where they are bringing 20% or more [as down payment],” Mangion says, pointing to growing impetus to save in order to access today’s prices in anticipation

of tomorrow’s much higher ones. “I think they’re afraid that if house prices keep going up, they won’t be able to buy one, so they accelerate their savings.” That analysis gels with Abramowicz’s. He points to the same assiduous saving among his first-time buyers, who also are positioned to skip CMHC and go the low-ratio route. And while parents aren’t necessarily the ones coming up with the down payment, their own thinking about how to purchase a home is increasingly reflective in the attitudes of their Gen Y children. “A lot of the older generation doesn’t understand mortgage insurance,” Abram owicz says. “It’s a hard and fast rule for most of the parents now to get to 20% because that’s what they had to do. To them, CMHC is a total waste of money and time ...”

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UPFRONT

NETWORK UPDATE NEWS BRIEFS DLC training credited with number-one status

One brokerage has made a rapid rise to the top of the mortgage scene in Canada, and the broker behind it attributes that success to a few simple things. “Six years to become the top broker age in Canada is pretty incredible. It speaks volumes of the people who are running it,” says Allen Cripps, mortgage broker with Dominion Lending Centres in Lindsay, Ont. “Dominion Lending offers great back-office training, so new agents in training have access to webinars and seminars, and they can get learning right away.”

Independent broker network winning with lenders

The Coalition of Independent Mortgage Brokers of Canada [CIMBC] has made inroads with lenders, and members are already seeing the benefits. For his part, George Hugh, president and CEO of Taurus Mortgage Capital, believes the coalition has provided a support base for independent-minded brokers who want to build their own brand as opposed to someone else’s. “The one thing that attracted me to this coalition was the relationship,” Hugh said. “I’ve learned a lot from the senior members because we openly share information that helps businesses grow and thrive at no cost to the member broker.”

Invis Mortgage Intelligence takes top CMA prize Last year featured a tie between two networks for the National Broker Network of the Year award at the CMAs, but there was no sharing this year – Invis Mortgage Intelligence took home top honours. “This is extremely gratifying, as

this is our 15th anniversary,” said Cameron Strong, CEO of Invis Mortgage Intelligence. “Congratulations to our team and to the finalists.” Invis Mortgage Intelligence also took home top honours in the Best Marketing Effort of the Year category for its excellent online and social media support for brokers.

West Coast Verico and DLC brokers merge Verico Clean Trust Mortgages and Dominion Lending Centres A Better Way, two West Coast-based brokers, have merged to create Dominion Lending Centres Clear Trust Mortgage A Better Way. “Our team is pleased to be part of the Dominion Lending Centres network of mortgage professionals, and we look forward to all the benefits that being part of DLC will bring to our office,” said Robert Afan, CEO and managing director of Verico Clear Trust Mortgages. Clear Trust Mortgages brings with it $300 million in volume, which makes Clear Trust Mortgages A Better Way one of the network’s highest-funding offices.

Schedule 1 network welcomes mortgage vets CFF Bank recently announced it has brought Yvonne Wilchewski and the River City Financial team on board as the newest Canadian First Financial Centre in Edmonton, Alta. Wilchewski and her team of almost 20 agents will now be able to offer banking and financial services through CFF Bank in the Edmonton area. “We are so pumped with energy to be given the opportunity to better serve and help our clients, our families and our circle of influence with CFF banking solutions,” Wilchewski said.

Network heads speak in chorus United we stand, divided we fall. The cliché holds true for the broker channel, according to two influential players calling for a united and increasingly loud front When it comes to industry associations, there are many to choose from – each province has its own. But the future of the mortgage industry depends on these associations coming together as one, according to two network heads. “Having a federal voice with the associations coming together, I think it will do wonders for our business,” says Gary Mauris, president of Dominion Lending Centres. “I think you will be able to get everyone on the same page with the same federal designation so we can continue to drive that point home and educate consumers about what we do. “I see that happening eventually,” he continues. “I absolutely do. You see it in associations now – some of them are coming together; they’re both publicly saying it’s not off the table.” A number of provincial associations have recently announced they have formed one national association. More than two years of discussion has resulted in the formation of the Canadian Mortgage Brokers Association – a national group that brings together provincial players. “It was determined that the formation of a national umbrella organization, CMBA, would not only enhance already strong regional representation, but also promote higher standards and awareness across the

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country,” CMBA said in its official release in late April. “CMBA will be an organization by mortgage brokers for the entire mortgage broker industry.” The goal of the association is to promote the use of mortgage brokers and increase market share – something the industry has called for over a number of years. In a recent interview with CMP, Albert Collu, president of Mortgage Architects, expressed his desire for a united voice that would better represent mortgage brokers to the general public.

“Until people understand what we do, we can’t do it effectively” “The associations have got a major role and ... collectively, they need to put their arms together and intertwine themselves,” he said. “They aren’t working well together at the moment. “I think they have to be the voice of the mortgage broker in terms of sitting at the table at a federal level or a provincial level as it relates to regulators, lawmakers and also being extremely strong advocates for heightening the awareness at the consumer level about what a mortgage broker actually is. Until people understand what we do, we can’t do it effectively.”

Q&A

Cameron Strong CEO INVIS MORTGAGE INTELLIGENCE

Years in the industry 15 Career highlight Winning Best National Brokerage Network and Best Marketing Effort at the 2015 CMAs on the network’s 15th anniversary

Brokers’ biggest challenges in 2015 What do you see as the biggest challenge facing the industry right now? We identified a challenge a couple of years ago – one of the things we saw was the rise of lending to millennials, so we got ready for that. We saw the rock-bottom interest rates and rising home prices, and a lot of young people who wanted to take advantage of early inheritances to obtain homeownership. We did a full marketing workshop about just that in a 14-city tour across Canada – marketing, communicating with young people through social media. I have three sons of my own, and they’re in their 20s. They only communicate through technology. They don’t call anybody – they only text or use social media. Have you seen any challenges specific to the brokering space? We’ve been concerned about quality as mortgage brokering has emerged as a profession. I liken brokers to other professionals. You have to be meticulous to be successful. If you’re not meticulous, you’ll soon die on the vine. We’ve been trying to bring in a lot of financial planner types, people with university educations – people who have new ideas and new perspectives. We’re trying to make sure that the profession emerges properly with well-educated people who have that professional mindset. That’s been a concern of ours. The industry was focused on poaching and bringing rookies with little or no experience into the financial industry. We’ve been very selective about who we’ve hired. You don’t have to have been in the brokering business, but you do have to have some sort of financial background. Do you feel the broker channel has been properly marketed to consumers? There hasn’t been enough effort. There hasn’t been an industrywide effort, and that’s a problem. That’s why we’re encouraged by the efforts of CAAMP and CMBA. We actually encourage our brokers to be part of both CMBA and CAAMP. Still, we’d like to see something emerge that’s more consumerfacing. I’ve been looking for the industry to put together sort of a concerted effort to market brokers as professionals. I don’t care if it comes from CAAMP or from CMBA. It’s too early to tell, but CMBA may emerge as the voice for mortgage brokers. ... But there’s a lot more work to do, clearly, on that. The other concern is about quality of brokers. We’ve seen a lot of part-time brokers enter the business, and we’re not really in favor of that. We want to see more full-time people enter the business. I think that, in a nutshell, is most of the issues we’re facing right now.

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15/07/2015 5:45:08 AM

UPFRONT

PRIVATE LENDING UPDATE

Interest-only private lending solution One private lender reveals why interest-only mortgages can be the best solution for certain clients

He does, however, admit that borrowers have to be more diligent and disciplined when it comes to paying down principal. “That’s always a risk,” he says. “We see a wide range of different business-for-self people. We get the really entrepreneurial types who dump all their money into their businesses, and then you have [the ones] who might just be irresponsible, but you’ll usually see that in their credit.” And when it comes to underwriting, Stanley says lenders will look more at exit

“You have to look at the borrower’s whole situation and see what is more important for them: paying down debt or having more cash flow” Brokers may scoff at interest-only mortgages, but Jared Stanley, business development officer for Vancouver-based Alt Mortgages, believes they are the best option for some clients – especially the self-employed. “You’ve got cash flow, tax deductibility, more flexibility, and a lot of interest-only products are open,” Stanley says. “We have a few Realtors on the books who receive large commissions, and they can pay down large portions of their mortgages on regular payment dates, and the remainder of their [interest-only] payments stay the same.” A lot of those clients, Stanley says, are

NEWS BRIEFS

business-for-self Canadians who don’t want to take a tax hit by writing down their income. He says interest-only options can be cheaper for them. However, not all clients are suited for this type of financing. “It really depends – you have to look at the borrower’s whole situation and see what is more important for them: paying down debt or having more cash flow,” he says. “That’s especially true ... for people who may have lost their jobs or ... who are in a tough spot – cash flow is most important to them to get them through until they can get standard, conventional financing again.”

Brokers crucial to lenders’ next step

In its dedication to making out-of-the-box mortgages work, one private lender is extending its hand to brokers to take its business to the next level. “What we’re trying to do as an organization is build relationships for the long run,” says Matthew J. Robinson, CEO and portfolio manager for W.A. Robinson Asset Management, a fund manager registered with the OSC. “We have a very unique model where we are raising capital from across the country through portfolio managers, and we literally have an endless flow of money if we want it.”

strategies than debt servicing, which is an advantage for certain borrowers who may have bruised credit. “The exit strategy could be they are fixing up their house and listing it for sale – that’s their plan, and that’s how they’re going to pay out their mortgage,” Stanley says. “Especially people who are about to go into foreclosure – foreclosure costs them a substantial amount, and they lose control of the sale, so if they can buy themselves some time to try to get top dollar for the property, then of course they’ll get the most money in their pocket.”

Making the shift from broker to private lender

As a broker, you live and die on the deals you can strike with a lender – but what if you turned that dynamic around and took on the role of lender? “You would be the ultimate decision-maker for the transactions,” says A.J. Poulin, vice president of sales for The Mortgage Office. “Instead of getting a referral fee, you would get paid recurring revenue on each loan every month until it was paid off.” Brokers already have a unique perspective on private lending risk tolerance, which facilitates the transition to the lending role.

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Q&A

Nima Ahmadpour President and CEO WCL CAPITAL GROUP

Years in the industry 7 Career highlight Attaining $1 million in gross revenue in less than 12 months of operation Greatest challenge Assembling the right team that portrays professionalism and integrity while branding and marketing in a competitive industry

Competition heating up in the private lending sector What’s the biggest challenge in the private lending space right now? There seems to be a new private lending company popping up every month. There is a lot of compe tition – so you definitely do need to have a niche product and provide service above everybody else. With new money continuously entering the market, it certainly puts a downward pressure on pricing as well. I do also foresee some future regulations being put in place. However, I can’t see that happening anytime soon; my prediction is that it will most likely go into effect within the next three to five years. Regulation to help protect the consumer is certainly not a bad thing.

Sounds like there are plenty of challenges in the space – what about opportunities? The opportunity that lies in the space right now is that banks and trust companies are continuously tightening up their underwriting guidelines, which means they’re declining more and more clients. This simply translates into more and more clients who will require private financing in order to obtain an approval. The private lending industry is growing due to the fact that these equity transactions make sense for both the investor/lender as well as the consumer, considering it’s a solution they can’t find anywhere

MIC consolidation ahead?

One industry player expects mortgage investment corporations [MICs] to go the consolidation route in the face of increased regulations. “I expect that in the future, we are going to see more and more MICs get larger and possibly consolidate due to tighter regulatory requirements and scrutiny,” says Tiffany Pedersen of Capital West. “Rates have been declining for several years, and with the use of leverage on the part of larger MICs, and increased competition from institutional lenders and other private sources, it appears that rates may continue this trend.”

else. Our reputation is everything, and being able to offer low rates, minimal fees and efficient service makes being a part of this growing industry very fulfilling.

You talked about the importance of finding a niche. Can you elaborate on that? The one thing we wanted to focus on is first mort gages that get declined by the trust companies, and being able to offer a similar-priced product to what the trust companies offer – but without the trust company guidelines. When trust companies decline a loan because of credit and/or income concerns – let’s say they had offered a rate of 4.99% – we can alternatively offer the same 4.99% rate with very little documentation required, because it’s an equitybased deal. Being able to provide a product like this and fill that particular niche is very important, and we’re one of the only private lending companies doing it right now. Our investors have deep pockets and prefer to invest in mortgages, which are secured against real estate, instead of parking their funds with their banks for minimal returns. Being able to keep our investors happy while offering 4.99% and 5.99% rates to the public on first mortgages, with amortizations up to 40 years – which are not being offered anywhere else – is truly gratifying.

CMHC rules could force high-interest refinancing

One broker believes clients will have to turn to high-interest loans as a result of refinance loan-to-value limits – and that these high-interest loans may become more ubiquitous as a result. “I’m afraid we might see a resurgence of high-rate refinance companies as a result of CMHC’s 80% loan-to-value cap,” says John Lozinski of Verico Lozinski Mortgage Corp. “Some people need to refinance for legitimate reasons, and if they want to pass that 80% threshold, they will need to take on other loans.”

How private lenders assess credit

When talking about the five C’s of credit, there is a difference in where conventional and private lenders place the order. “Conventional lenders generally look at the five C’s of credit in this descending order of importance: collateral, credit, capacity, character and capital,” says Hali Strandlund-Noble of Fisgard Asset Management. “Private lenders generally look at it like this: collateral, capacity, capital, credit and character.” The fact that private lenders place capacity higher than credit is the significant different between conventional and private lending.

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15/07/2015 5:46:15 AM

UPFRONT

OPINION

GOT AN OPINION THAT COUNTS? Email mortgagebrokernews@kmimedia.ca

Good news for condos The first update to the Ontario Condominium Act since 1998 will certainly spell change for buyers, but what about for brokers? IN LATE May, the Ontario Condominium Act was updated for the first time since its inception in 1998. Since that time, the number of people living in condos has risen to 10% of the provincial population – some 1.3 million people. While the changes are certainly encour aging for current condo owners, I don’t know if they will spur significantly more buyers to enter this market. There will be an increase, I believe, but a marginal one. Really, these changes are most beneficial to current condo owners and buyers. One of the greatest changes to the Condo minium Act is the inclusion of conversion buildings – such as loft conversions, which are popular in Toronto – in new home warranties. That inclusion provides these types of properties with Tarion warranties, which weren’t previously available to them. Monoline lenders typically do not lend on properties that are not Tarion warrantied. Before this update to the Act, clients looking to purchase a loft or other conversion property were forced to borrow from a bank – often at a higher rate and with more stringent terms and conditions. This particular update will give clients more options in terms of the lender they use. It also will enable mortgage brokers and agents to seek out the best mortgage product for their clients. This change will be good for business because we will be afforded the ability to use more lenders who have better terms and conditions for those buyers. And, for many of those buyers, it’s better than going to a bank, as they don’t always have the

best terms and conditions – not to mention the huge penalties that come with fixed-rate mortgages at the banks. Monolines also tend to come with lower rates, potentially saving clients money. Even if the savings is just 0.15%, it adds up over a five-year term. In fact, it can cumulate to more

a very reasonable amount. These bodies will give condo buyers more control over their properties, more regulations to protect them and more peace of mind, knowing that there’s a governing body to deal with any issues. Property managers also will now be required to go through an accreditation program. It’s incredible that this particular update wasn’t instituted earlier; a bad property manager can not only impact a resident’s living conditions, but also can affect the value of the property. With this new requirement, though, condo buyers and current condo owners can rest assured that their property manager is qualified. At the end of the day, these updates are good news. They give buyers more rights and more protection, making them feel more secure in buying a condo. Living in a condo is increasingly becoming a popular option for many homeowners, especially as the cost of a detached home in some of Canada’s major

“Before this update ... clients looking to purchase a loft or other conversion property were forced to borrow from a bank – often at a higher rate and with more stringent terms and conditions” than $2,000 to $3,000 in savings, depending on the mortgage amount. But the Tarion warranty isn’t the only benefit to Ontario’s condo buyers and owners. The update also calls for standardization of the disclosure statement buyers receive from builders. While this doesn’t necessarily have an impact on mortgage brokers, it is certainly a value-add for buyers, who won’t have to sift through so much fine print. Builders will be forced to be more upfront with buyers and more transparent throughout the process. The new Condo Act also will see the formation of independent bodies that can regulate the industry. For instance, each build ing’s condo corporation will be tasked with forming a tribunal that can resolve resident complaints without residents having to resort to small claims court. Each resident will pay about $1 into the formation of the tribunal –

centres continues to rise. If clients can’t afford a house in Toronto, for instance, their options are to move outside of the city or buy a condo, usually downtown. As buyers weigh the pros and cons of each of those options, the Condo Act updates will help add a few more points to pro side of condo living. As a mortgage broker who works predominantly in the downtown core, that means more clients are not only moving within my geographical area, but they’re also more inclined to stay there. Any little thing like that can help buyers when purchasing a condo – and that’s good for business. James Harrison is president of Mortgages.ca in Toronto. He has more than eight years of experience in the mortgage industry, and has consistently been named one of CMP’s Top 75 Brokers in Canada.

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15/07/2015 5:03:58 AM

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15/07/2015 5:04:09 AM

PEOPLE

INDUSTRY ICON

LOOKING ON THE BRIGHT SIDE He’s got three successful startups under his belt – but it seems Gary Mauris, president of Dominion Lending Centres, is just getting started

GARY MAURIS knew early on that he had a knack for entrepreneurship, so when he saw an opportunity to develop a mortgage company in Canada, he went for it, guns blazing, hoping to build a national brand. “I looked to the US,” he explains. “My neighbour in the US was a mortgage broker, and at that time, 70% of all mortgages were funded through a broker. I thought that whatever happens in the US eventually happens in Canada, whether it’s fashion or music – five or 10 years later, we normally follow that path. So I approached him about investigating the possibility of starting a mortgage company in Canada.” The seed planted, Mauris eventually moved back to Canada in 2005 and began researching the market to determine the feasibility of his idea. “I did my homework, flew around the country, went to the different trade shows – CAAMP at that time – and thought there was an opportunity to build a national brand.” Since Mauris launched Dominion Lending Centres in 2006, the company has experienced exponential growth. Between the DLC brand and its affiliate, The Mortgage Centre, which was purchased in 2013, it currently accounts for 30% of the mortgages funded by brokers. According to D+H, Dominion Lending Centres’ market share is 18.9%, with the rest funded by MCC.

Building the brand Mauris might have been inspired by the broker business model he first discovered south of the border, but he also took hints from a domestic company operating in a similar industry. “We created a national advertising campaign that our industry had never seen,” he says. “Re/Max had done it, and we modelled it after that. The power of brand in financial services can’t be understated. People are making the biggest [financial] commitment in their life, and they want to do it with a company they recognize and

the things we’ve done to bring our brokers together is we’ve really been involved in team community initiatives,” he says. “For us, success isn’t success until it’s shared. I always say, and it’s a bit of a catch phrase, but you’re not truly living and experiencing unless you’re giving.” The company is a national sponsor for anti-bullying campaign IAMSOMEONE, Bikes for Kids (which will provide 2,000 new bikes for kids this year in partnership with Walmart and Global News) and Breakfast for Learning (which has provided more than 77,000 meals for kids since 2012).

“People are making the biggest financial commitment in their life, and they want to do it with a company they recognize and feel confident about. The brand has been incredibly powerful for us” feel confident about. The brand has been incredibly powerful for us.” In addition to the influence of the Dominion Lending Centres brand, Mauris credits the tech n ology it provides its brokers and, perhaps most important, its community involvement as the driving forces behind the company’s growth. “Culture is really important, and one of

Poised for growth While he believes his own company will continue to grow and expand and win market share, Mauris also believes the industry as a whole is set for many fruitful years to come. “I think the next five years are our best five years,” he says. “The broker community right now is poised to do really, really, really

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15/07/2015 5:05:31 AM

PROFILE Name: Gary Mauris Company: Dominion Lending Centres Title: President Years in the industry: 9 Career highlight: Signing Dr. Sherry Cooper as DLC’s chief economist. “Dr. Cooper spent 30 years at BMO and has been an amazing addition to DLC and our brand,” Mauris says. Personal philosophy: “Everything isn’t always easy, but that’s when you learn your biggest lessons. At 12:01 a.m., I get a brand new set of 24 hours.”

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15/07/2015 5:05:41 AM

PEOPLE

INDUSTRY ICON

well. We’re getting a great positive report from CMHC, which just came out with a report around first-time homebuyers, around renewals – our numbers are going up, and we’re gaining awareness. Our arrears are incredibly low, our defaults are incredibly low, and the quality of business the banks are receiving from the broker channel is incredibly clean and very, very, very good business.”

A large part of ensuring the industry’s continued growth rests on the shoulders of its various associations, he says. “The number-one thing that has to be done is we have to have all the associations working together,” he says. “I think it’s completely dysfunctional right now where there are various associations competing against each other. “I think we have to eventually get to

“The number-one thing that has to be done is we have to have all the associations working together. I think it’s completely dysfunctional right now where there are various associations competing against each other” To Mauris’ point, the CMHC’s 2015 Mortgage Consumer Survey, released in May, revealed that broker market share is trending upwards for repeat buyers (up to 42% in 2015 from 32% in 2012), first-time buyers (up to 55% from 48%) and refinances (up to 33% from 27%). Market share is up for overall mortgages funded as well, according to CAAMP’s annual spring report. “In terms of mortgage originations, 52% of mortgages were from banks, with 34% from mortgage brokers and the remainder from credit unions, life insurance or trust companies, and other lenders,” the report states.

New opportunities The industry may be making headway among consumers, but its work isn’t over, according to Mauris, who points to the 150-year history some of the big banks can rely on for recognition, which gives them a substantial head start.

a position where we’re like the mutual fund dealers’ association,” he continues, “where we’re federally incorporated, and we have one national moniker or one national designation. I think that the more mature the industry becomes, the closer we’ll get to that.” And he certainly is optimistic about the prospect. “I think that with continued pressure from the broker community saying that we’re unhappy with our associations and we want you guys to come together ... I think eventually we’ll bring them together,” he says. The biggest hindrance to industry growth, according to Mauris, is building consumer awareness, eradicating misconceptions, and helping consumers understand exactly what it is a mortgage broker does. Gary Mauris and Dominion Lending Centres are certainly doing what they can to make that happen.

GARY MAURIS’ CAREER TIMELINE

1999–2005 Launches two successful startups, both of which are eventually sold to public companies

2006 Launches Dominion Lending Centres

2013 The Mortgage Centre becomes part of the DLC group of companies

2015 and beyond “Our next five years will be our best five years,” Mauris says. “We will be introducing new lender products and new ancillary services.”

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15/07/2015 5:05:52 AM

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15/07/2015 5:06:04 AM

FEATURES

COVER STORY: YOUNG GUNS

YOUNG

GUNS

Meet the young up-and-comers who are making waves in the mortgage industry

WELCOME TO CMPâ&#x20AC;&#x2122;s annual Young Guns report. We asked you to nominate mortgage professionals aged 35 and younger who have already made a splash in the industry, and your suggestions came flooding in. It was a difficult task, but weâ&#x20AC;&#x2122;ve whittled the list down to 39 young people we think merit a mention for their achievements in the mortgage industry this year. From young entrepreneurs who already own their own brokerages to originators whose success has made them mentors to their peers, all of the young men and women on this list have proven themselves exceptional. Despite their youth, many of them are among the top producers in their groups, racking up tens of millions of dollars in sales volume. In a time when rapid change demands fresh ideas and new perspectives, these are the young mortgage professionals who hold the future of the industry in their hands.

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YOUNG GUNS 2015

INDEX BY NAME NAME

GRAHAM REIMER AGE: 27 MORTGAGE ASSOCIATE DOMINION LENDING CENTRES MORTGAGE EXCELLENCE Graham Reimer doesn’t let working in the small market of Lethbridge, Alta., stop him from excelling. In 2014, he racked up $17.3 million in volume on 82 deals, and is on pace to break 100 deals in 2015. Reimer also was nominated for a Canadian Mortgage Award for his extensive volunteer efforts in the community.

ADAM COULTISH AGE: 32 PARTNER AND SENIOR MORTGAGE ADVISOR DOMINION LENDING CENTRES COULTISH & CO. MORTGAGE ADVISORS Two years ago, Adam Coultish left a full-time government job as a border officer to enter the mortgage world, and he hasn’t regretted the decision. In 2014 – his first full year as a broker – Coultish racked up $16 million in total volume. This year, he’s on track to post $40 million. As soon as he passed the two-year mark as a broker, Coultish incorporated Coultish & Co. under Dominion Lending Centres, and the firm has taken off like a rocket. “I will be in this industry for life,” Coultish says. “I want to see it grow and become more unified for all of us brokers.”

PAGE COMPANY

Baker, Bryan

Invis Mortgage Intelligence

Charania, Alim

Dominion Lending Centres Regional Mortgage Group

Clement-Allen, Adela

Dominion Lending Centres Regional Mortgage Group

Cooper, Chase

Dominion Lending Centres Mortgage Excellence

Coultish, Adam

Dominion Lending Centres Coultish & Co. Mortgage Advisors

Davison, Sarah

Mortgage Intelligence

Donaldson, Drew Charles

Verico Safebridge Financial Group

Earles, Richard

WCL Capital Group

Francis, Tina

Broker Financial Group

Gallucci, Gabriel

Denova Group Powered By Dominion Lending Centres

Gee, Christopher

Invis Mortgage Intelligence

Gill, Henry

Dominion Lending Centres Capital Region

Hawryluk, Adam

Dominion Lending Centres Canadian Mortgage Experts

Henry, Kurt

Durhammortgage.com

Hogben, Brian

Mortgage Financial

Howard, Sara

PropertyGuys.com Mortgage

Huynh, Kevin

Loewen Group Mortgages

James, Dustin

Dominion Lending Centres Premier Financial Group

Kosturos, Dimitri

VWR Capital Corp

Lee, Diana

Invis Mortgage Intelligence

Lefebvre, Raeann

Keystone Mortgage Corporation

Lefebvre, Ron

Invis Mortgage Intelligence

Lemay, Megan

Dominion Lending Centres HT Mortgage Group

Levine, Steven

True North Mortgage

Liddiard, Kevin

Dominion Lending Centres Easy Street Mortgages

Loewen, James

Loewen Group Mortgages

Lyn, Simon

Invis Mortgage Intelligence

Mawji, Adil

AMBA

McKay, Jon

Dominion Lending Centres Mortgage House

Mirza, Annie

Invis Mortgage Intelligence

Posnikoff, Craig

Dominion Lending Centres Commercial Capital

Pultr, Dan

TMG The Mortgage Group British Columbia

Reimer, Graham

Dominion Lending Centres Mortgage Excellence

Ryan, Steve

TMG The Mortgage Group Regina

Sergerie, Véronique

Invis Mortgage Intelligence

Thompson, Cory

Pillar Financial Services

Turcotte, Chris

Centum Mortgage Choice

Vig, Sunny

Dominion Lending Centres Mortgage Force

Yates, Tyler

Verico The Mortgage Wellness Group

www.mortgagebrokernews.ca

News

InternatIonaL

FEATURES

u.s. COVER STORY: YOUNG GUNS 90.6%

inspectors have found problems; appraisals showed a home was worth less than the bid; a buyer lost a job before the closing. U.S. housing market worse than thought More than two years after the recession The number of Americans who bought previously officially ended, many people can’t qualify for occupied homes rose in October. But the National loans or meet higher down payment Association of Realtors says it overstated more than requirements. Even those with excellent credit three million sales during and after the Great Recession, JAMES LOEWEN and stable jobs are holding off because they fear showing the housing market was weaker than AGE:of33 Percentage that home prices will keep falling. Sales are also previously thought. BROKER/OWNER homeownership being hurt by a decline in first-time buyers, who The private trade group says sales rose four per LOEWEN GROUP MORTGAGES costs, including are critical to reviving the housing market. cent in October to a seasonally adjusted annual rate of mortgage payments, Sales have fallen in four of the five years 4.42 million. That’s below the roughly six million homes utilities andInproperty just his sixth year in the Loewen is in already since thebusiness, housing James boom went bust 2006.a force to a year that economists say are consistent with a healthy taxes that be take up a with. Declining prices and record-low mortgage housing market. But it’s ahead of 2008’s revised sales, ’s Top 75 rates Brokers reckoned Not only has he been among CMP typical household’s haven’t been enough boost sales. now considered the worst in 13 years. for three years running, but he also took to home this year’s CMA award monthly pre-tax theYear same time,Than home25construction The trade group revised its sales from 2007 to 2010 for Mortgage Broker ofAtthe (Fewer Employees).has Loewen income in Vancouver begun a gradual comeback and should add to the down 14 per cent, from more than 20.6 million to nearly Group Mortgage also has been recognized for its outstanding customer and Toronto, economy’s growth in 2011 for the first year since 17.7 million. Among the reasons for the lower figures, service with both award nominations consistently respectively (RBC the Great Recessionand began in 2007.high Lastratings month,from the Realtors group says: changes in the way the Census Economicscustomers. Housing Loewen also created Loewen Business builders brokethe ground on an annualBursary rate of at Bureau collects data, population shifts and some sales TrendsGravehurst and High School, a $2,500-a-year scholarshipsaid for under 685,000 homes, the government recently. being counted twice. Affordability Report)studentsThat a 9.3 per jumpschool. from October and The Realtors consulted with government and privileged whowas want to go tocent business the fastest pace since April 2010. private housing experts, including the Federal Reserve, Most economists say home prices will keep the Department of Housing and Urban Development, falling, by at least five per cent, through 2012. the Mortgage Bankers Association, the National ADELA CLEMENT-ALLEN CHASE COOPER Many forecasts don’t foresee a rebound in prices Association of Home Builders, mortgage giants Fannie AGE: 35 until at least 2013.AGE: 31 Mae and Freddie Mac and CoreLogic, a California-based BROKER/OWNER The high rateMORTGAGE of foreclosuresASSOCIATE has made data firm that first raised doubts about the annual DOMINION LENDING DOMINION LENDING resold homes cheaper than new ones. The numbers earlier this year.CENTRES median price of aCENTRES new home isMORTGAGE roughly 30 per CoreLogic has estimatedGROUP that the Realtors group REGIONAL MORTGAGE cent above the price of one that’s overstated sales in 2010 by at least 15 per cent. EXCELLENCE been occupied before – twice the normal markup. Investors are The changing numbers could affect how economists At just 35, Adela Clement-Allen already has more than a decade of taking advantage of the discounts. view the trade group’s data. It could also affect companies Chase Cooper had a breakout year experience as a mortgage agent. She consistently brings in close to $30 The housing market is struggling even that use the figures for hiring and expansion plans. in 2014. has Working in a small million in annual volume with no associates working behind her. A as the broader economy improved in market Sales are measured when buyers close on homes. shareholder in both Regional Mortgage Group and Our CFF recent months. in Fort St john BC, his 2013 volume But many deals are DLC collapsing before that point. of $20.5 million was already impressive. in 2014, hepace increased Centre, Clement-Allen is also a member of CAAMP, AMBA and AMP. The economy grewBut at an annual of twothat One-third of Realtors said they had at least one contract per cent in the quarter. scuttled October, up in from 18 per cent in Regional September. volume by nearly 50%, closing outJuly-September the year at $30.3 millionMany and She’s alsoininstrumental organizing DLC Mortgage Group’s economists expect slightly better growth in the Contracts aretobeing for several clinching the office’s top producer spot. Golf/Build a Kid Cure cancelled fundraiser, which hasreasons: helped raise almost $2 October-December quarter. CMP Banks have declined mortgage applications; home million for Central Alberta children’s charities.

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YOUNG GUNS 2015

ANNIE MIRZA AGE: 35 MORTGAGE BROKER INVIS MORTGAGE INTELLIGENCE Juggling a full work schedule and raising two small children, Annie Mirza has still found time to stand out in the mortgage industry. Mirza was the top producer in Mortgage Intelligence’s Ontario region last year. “She manages these enormous personal volumes with only one assistant who keeps her organized and on track,” says Barb Morgan, regional manager for Invis Mortgage Intelligence. Mirza is also gaining a reputation as an industry expert. She was featured on a broker panel at this year’s Toronto CAAMP Symposium, where she shared tips for new brokers trying to get a foothold in the business.

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FEATURES

COVER STORY: YOUNG GUNS

YOUNG GUNS 2015

HENRY GILL AGE: 29 MORTGAGE ASSOCIATE DOMINION LENDING CENTRES CAPITAL REGION Henry Gill is a specialist in helping clients who’ve been turned down by other brokers. He’s known at DLC Capital Region for never giving up on a deal until he’s exhausted every possible avenue. And that determination has paid off: In 2013 and 2014, Gill posted nearly $35.7 million in total volume. “To be successful in this industry, you have to love what you do,” he says. “Maintaining strong relationships with your colleagues, referral sources, lenders and clients is something that requires daily care and attention. And of course, hard work is a must.”

ADAM HAWRYLUK AGE: 32 MORTGAGE EXPERT DOMINION LENDING CENTRES CANADIAN MORTGAGE EXPERTS Adam Hawryluk grew his business out of the 2009 recession, flourishing in spite of massive challenges to the industry. His determination hasn’t gone unnoticed – for the last three years, Hawryluk has been recognized as one of the industry’s top young professionals. Currently working with MIC All Island Equity to develop their current marketing package, Hawryluk also finds time for community involvement; he’s a director of his local Chamber of Commerce and Community Futures Central Island, and a past president of the Young Professionals of Nanaimo.

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CORY THOMPSON AGE: 32 SENIOR RESIDENTIAL UNDERWRITER PILLAR FINANCIAL SERVICES At just 32, Cory Thompson has been a driving force in the growth of Pillar Financial for almost a decade. As the company’s senior residential underwriter, Thompson is a perfect representative of Pillar’s solutionbased philosophy. He was instrumental in helping the Frontenac Mortgage Investment Corporation – which Pillar administers – grow from $25 million to $150 million in just a few short years.

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COVER STORY: YOUNG GUNS BRYAN BAKER AGE: 31 MORTGAGE PROFESSIONAL INVIS MORTGAGE INTELLIGENCE Bryan Baker takes a unique approach to building his business, focusing exclusively on referrals from financial planners. Baker works with financial advisors to accelerate their clients’ financial plans through more efficient debt and cash-flow management. His approach seems to be working – Baker doubled his volume in 2014, and is building a team that will follow the same system. That team has already been recognized as one of the top small teams in the Prairies.

STEVEN LEVINE AGE: 30 AGENCY EXECUTIVE OFFICER TRUE NORTH MORTGAGE Steven Levine has been on fire since he entered the industry. He won the Canadian Mortgage Award for Best Newcomer in 2013 and was a finalist in the same category in 2014. He was also a CMP Young Gun in 2014, as well as a finalist for the 2015 CMA for Mortgage Broker of the Year (25 Employees or More).

CRAIG POSNIKOFF ADIL MAWJI AGE: 30 PRESIDENT AMBA At just 30 years old, Adil Mawji is president of the Alberta Mortgage Brokers Association, leading the charge to advocate for brokers’ interests in the province. He’s also quite a producer in his own right, placing among CMP’s Top 75 Brokers for the last four years. Last year, he racked up a volume of $56 million. Mawji is also very involved in the Ismaili community, organizing events, giving free financial counselling to those in need and driving seniors to the mosque several times per week.

www.mortgagebrokernews.ca

AGE: 29 COMMERCIAL MORTGAGE BROKER DOMINION LENDING CENTRES COMMERCIAL CAPITAL Although he’s been a mortgage professional for just three years, Craig Posnikoff literally grew up in the business – his family has been in the industry for more than 40 years. That immersion in mortgages has served him well, according to DLC Commercial Capital president David Beckingham. “At such a young age, he has completed many multimillion-dollar construction loans – a scenario that many seasoned commercial mortgage brokers could not even handle – the largest of which was $24 million,” Beckingham says. “To say the least, I’m proud to have him as one of our brokers representing the Dominion commercial brand.”

YOUNG GUNS 2015

DAN PULTR AGE: 32 VICE PRESIDENT TMG THE MORTGAGE GROUP BRITISH COLUMBIA Dan Pultr joined TMG The Mortgage Group a few years ago after serving as business development manager at Macquarie. Pultr’s leadership as vice president has helped build a strong presence for TMG in British Columbia. Under Pultr’s guidance, TMG volume in BC has increased 40% in the last two years, regaining the province’s spot as the number-one region for TMG Canada. Pultr is also active in the company’s corporate marketing and national training initiatives; he started the Industry Expert Forum, an online broadcast initiative that shares expertise and best practices. Pultr is currently a director for CAAMP’s British Columbia region and chair of the BC Regional Broker Chapter. He’s also a leader in TMG’s charitable initiatives.

www.mortgagebrokernews.ca

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COVER STORY: YOUNG GUNS

YOUNG GUNS 2015

DREW CHARLES DONALDSON AGE: 32 EXECUTIVE VICE PRESIDENT VERICO SAFEBRIDGE FINANCIAL GROUP At just 32, Drew Charles Donaldson is already an equity partner at Safebridge Financial Group, one of the largest mortgage and financial planning firms in Toronto. He’s helped facilitate well over $1 billion in mortgage volume in his career. In 2014, Donaldson co-founded Homes 4 Hope, a charity that raised more than $100,000 in its first six months to build homes in Africa. The organization also has partnered with CBM and Habitat for Humanity to increase its charitable potential.

TINA FRANCIS AGE: 33 REGIONAL VICE PRESIDENT BROKER FINANCIAL GROUP

DIANA LEE AGE: 33 SENIOR MORTGAGE CONSULTANT INVIS MORTGAGE INTELLIGENCE After nine years with TD Canada Trust, Diana Lee made the transition from banking to independent mortgage brokering in 2012. In her first six months, Lee racked up $15 million in volume – and she’s just kept getting better. In 2014, Lee’s team was responsible for $51.8 million in volume, making her one of the most successful people in Canada to make the bank-to-broker transition. Lee’s team has been recognized as one of the top teams at Invis, and her brokerage was a nominee for Best Newcomer Brokerage at the 2015 Canadian Mortgage Awards.

www.mortgagebrokernews.ca

With extensive experience in the banking industry, Tina Francis has already spent more than a decade administering financial products for Canadian consumers. Francis worked her way through the underwriting ranks to become Radius’ regional vice president for Eastern Ontario. Her work for Radius caught the attention of Broker Financial Group, which recruited her in June to help recruit and train new agents.

DIMITRI KOSTUROS AGE: 31 VP OF MARKETING, UNDERWRITING AND IT VWR CAPITAL CORP. In his capacity as vice president of underwriting, marketing and IT, Dimitri Kosturos was instrumental in VWR Capital’s entry into the Saskatchewan, Manitoba and Ontario markets. He’s also helped grow their portfolio from $100 million to $180 million and vastly increase the number of mortgages under the company’s management. Kosturos is currently the president of the British Columbia MIC Managers Association, an industry group representing 35 MICs with a total lending capacity of $1.7 billion. He’s also a director of the Langley Community Service Society, which offers a wide array of programs in the family services, counselling and substance use arenas, and a director of the Shewan Foundation, which donates about $100,000 to charitable causes annually.

MEGAN LEMAY AGE: 28 MORTGAGE BROKER DOMINION LENDING CENTRES HT MORTGAGE GROUP Megan Lemay has expanded not only her own business, but that of her entire office as well. In 2014, Lemay helped DLC HT Mortgage Group grow its annual volume by 25%, while expanding her own volume by 40%, racking up an impressive $36 million. Always looking for ways to help the firm’s clients, Lemay was instrumental in HT Mortgage Group’s recent partnership with Canada First Financial.

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COVER STORY: YOUNG GUNS RON LEFEBVRE AGE: 34 MORTGAGE CONSULTANT INVIS MORTGAGE INTELLIGENCE

KURT HENRY AGE: 30 MORTGAGE BROKER DURHAMMORTGAGE. COM A consistently high producer, Kurt Henry has won volume awards from multiple lenders, including First National and MCC Centric. In 2014, Henry’s team funded $50 million in total volume. Henry is also active in his community, supporting local charities such as Big Brothers Big Sisters and the Hearth Place, a support centre for cancer patients and their families.

www.mortgagebrokernews.ca

Ron Lefebvre won the CMA Best Newcomer Award in 2012, and he’s done nothing but continue his ascent in the three years since. Lefebvre has been among CMP’s Top 75 Brokers for the last three years, and finished 2014 with $45 million in volume. “Ron embraces continual self-improvement and investments in his business,” says colleague Kelly Neuber. “He has a total focus on customer care and database marketing, and embraces all new methods of developing business.” Lefebvre currently serves on RECA’s mortgage broker advisory committee and participates in RECA’s 2020 Forum, a periodic gathering of future industry leaders. He also organizes fundraisers to aid the homeless in his community.

YOUNG GUNS 2015

SARA HOWARD AGE: 33 SENIOR UNDERWRITER AND PARTNER PROPERTYGUYS.COM MORTGAGE Along with her partner at PropertyGuys. com Mortgage, Sara Howard is at the forefront of innovation in integrating mortgage professionals into the private sale process. Her involvement in building that integration within the company and with lenders is changing the way the industry looks at mortgage agents. Sheâ&#x20AC;&#x2122;s also no slouch on the sales side, racking up $15 million in volume last year.

www.mortgagebrokernews.ca

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COVER STORY: YOUNG GUNS DUSTIN JAMES AGE: 30 MORTGAGE AGENT DOMINION LENDING CENTRES PREMIER FINANCIAL GROUP Dustin James works tirelessly for his clients, and that hard work has paid off – last year, James brought in $30 million in volume. He’s been selected as his community’s favourite mortgage broker for several years running, and was among CMP’s Top 20 Small-Market Brokers for the last two years. James also gives back to his commu nity; he currently heads Lindsay Unites, which raises money to allow underprivileged children to participate in team sports.

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AGE: 35 MORTGAGE BROKER MORTGAGE FINANCIAL

AGE: 31 OWNER AND MORTGAGE ASSOCIATE TMG THE MORTGAGE GROUP REGINA Steve Ryan started as a broker in 2012. In his first full year, he was recognized as the TMG Prairies Rookie of the Year. He was also the first broker in the region ever to win both Rookie of the Year and the Summit 20 Award, which recognizes brokers in the top 20% in the company. The following year, Ryan won the company’s Rising Star Award for the largest annual increase in volume. He’s now running a group with partner Ryan Michell and participates in a number of fundraisers for the Children’s Hospital of Saskatchewan. For the last two years, he’s served on the board of the Jon Ryan Golf Tournament, which, during that time, raised $125,000 for the Bob Ryan Foundation.

In just three years, Brian Hogben grew his agency from a one-man operation to a shop with six full-time agents and two parttimers. He also created Mortgage University, a 12-week course to help develop new agents. Hogben is currently writing a book on financial literacy and independence for teens. He also was recognized as one of CMP’s Top 75 Brokers for 2015.

RICHARD EARLES AGE: 28 MANAGING PARTNER AND DIRECTOR OF LENDING OPERATIONS WCL CAPITAL GROUP Richard Earles has been in the mortgage industry for just over five years. In that time, he’s helped grow private mortgage portfolios by more than $100 million. As a managing partner at WeCanLend, Earles specializes in building long-term relationships with mortgage brokers, raising capital for private mortgage investments, and managing the company’s underwriting and business development departments. His work is critical to keeping new business coming in and ensuring the company’s mortgage capital is utilized on quality residential and commercial real estate. Earles is a corporate member of the Independent Mortgage Brokers Association of Ontario and the Canadian Association of Accredited Mortgage Professionals.

www.mortgagebrokernews.ca

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YOUNG GUNS 2015

SARAH DAVISON AGE: 34 MORTGAGE SPECIALIST MORTGAGE INTELLIGENCE Sarah Davison has shown tremendous sales prowess in the small market of Grande Prairie, Alta., racking up $41.4 million in volume last year alone. She’s been included in CMP’s Top 20 Small-Market Brokers for the last four years, and is a consistent award winner for both volume and mortgage insurance sales. Last year, she was recognized as number one in Mortgage Intelligence’s mortgage insurance sales, and received recognition as one of the top team members in Canada.

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KEVIN LIDDIARD AGE: 31 MORTGAGE BROKER DOMINION LENDING CENTRES EASY STREET MORTGAGES Kevin Liddiard worked in a law office for five years before starting a career in the mortgage industry, and his experience in real estate law gave him the foundation to hit the ground running. In 2013, working only part-time, Liddiard was responsible for $10 million in volume. In 2014, that total jumped to $17.5 million, and he’s already at $15 million in volume so far this year. His drive has landed him among Dominion Lending Centres’ top brokers nationally. The secret to Liddiard’s success, say both colleagues and clients, is his willingness to go beyond the call of duty to satisfy his customers. “With an extremely tight time frame, Kevin was able to provide me outstanding service and get me a mortgage that I am extremely satisfied with,” says client Frank Calabrese. “Kevin worked around the clock to ensure that all the information was accurate and complete to have my mortgage approved for the closing date.”

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COVER STORY: YOUNG GUNS

YOUNG GUNS 2015

VÉRONIQUE SERGERIE AGE: 27 MORTGAGE BROKER INVIS MORTGAGE INTELLIGENCE Véronique Sergerie was a bank mortgage specialist before she entered the broker world just two years ago. She made the transition quickly and smoothly, racking up $42.7 million in volume in 2014. “She’s a professional who is passionate about her work and dedicated to every single client,” says Patricia Tannous, broker resource coordinator at Invis Mortgage Intelligence. “She has developed some very strong relationships with her referral sources, whoCMP willPrint only June2015 deal withFNL.pdf her.” Sergerie was a nominee inPM the Best 1 2015-06-09 2:48 Newcomer Broker category at the 2015 Canadian Mortgage Awards.

www.mortgagebrokernews.ca

TYLER YATES AGE: 33 MORTGAGE AGENT VERICO THE MORTGAGE WELLNESS GROUP Since entering the mortgage world in 2012, Tyler Yates has doubled his volume every year. Yates works in the small community of Sarnia, Ont., a city of 73,000 widely known as a retirement community. Yates’s unique approach, which combines an Internet-style shopping experience with the customization and guidance of an in-person encounter, has brought his business many referrals from first-time homebuyers. Yates was a 2015 finalist for the CMA Best Newcomer Award.

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COVER STORY: YOUNG GUNS CHRIS TURCOTTE

AGE: 25 BROKER/ OWNER DOMINION LENDING CENTRES MORTGAGE FORCE

AGE: 33 BROKER/OWNER CENTUM MORTGAGE CHOICE

RAEANN LEFEBVRE AGE: 35 LEAD PLANNER KEYSTONE MORTGAGE CORPORATION Raeann Lefebvre entered the industry in 2007. Less than two years later, she opened her own franchise, and has since grown her team to seven associates. Passionate about continued professional growth, Lefebvre acts as a coach and mentor to her associates, as well as bringing them to industry education events to ensure their continued improvement. Last year, Lefebvre was responsible for $55 million in total volume.

www.mortgagebrokernews.ca

2015

SUNNY VIG

Sunny Vig has done very well in the mortgage industry in a very short time. He entered the industry as a mortgage specialist at BMO in late 2013 and immediately showed a knack for the business. In March of this year, he took the bold step of leaving the bank and starting his own DLC franchise. Vig is committed to the broker model and to first-time homebuyers; his YouTube channel, “Mortgages by Sunny,” gives advice to people looking for their first home, and he’s also published articles in local papers about the importance of using a mortgage broker.

YOUNG GUNS

Chris Turcotte has had a year marked by amazing growth and recognition. He led his brokerage – the fastest-growing Centum franchise – to win the Entrepreneur of the Year Award for the entire network. Centum Mortgage Choice also was nominated for a CMA for Mortgage Brokerage of the Year (Fewer Than 25 Employees). In the last year, Turcotte also acquired his primary compe tition, The Mortgage Centre Brandon, doubling his office. He also recently opened an office in Steinbach, Man.

JON MCKAY AGE: 26 MORTGAGE AGENT DOMINION LENDING CENTRES MORTGAGE HOUSE Jon McKay specializes in helping clients who have been turned down by banks, using his wide network of lenders to find mortgages for people with bruised credit, and he’s proved adept at helping clients who haven’t been able to find help elsewhere. An accredited mortgage professional, McKay recently shared that knowledge with attendees of CAAMP’s Atlantic Canada Mortgage Symposium as a guest speaker. McKay also believes in giving back to his community: For the last two years, he has sponsored the African Canadian Achievement Awards, and has presented awards in Art and Excellence to both Toronto International Film Festival artistic director Cameron Bailey and hip-hop artist Maestro Wes Fresh.

SIMON LYN AGE: 34 MORTGAGE AGENT INVIS MORTGAGE INTELLIGENCE “Simon Lyn is on fire at Mortgage Intelligence,” says CEO Cameron Strong. Lyn finished 2014 as the company’s number 15 broker nationwide. As of May of 2015, he was number six, “and closing in on that number-five spot, which is an amazing accomplishment considering the many well-established, veteran brokers with large databases that are at Mortgage Intelligence,” Strong says. At just 34, Lyn is already an expert whose opinion is often sought by his primary lenders. He’s also one of the best brokers in Canada when it comes to using social media to build volume and educate his clients.

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COVER STORY: YOUNG GUNS ALIM CHARANIA

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AGE: 33 MORTGAGE BROKER DOMINION LENDING CENTRES REGIONAL MORTGAGE GROUP Alim Charania came from a banking background, getting into the mortgage business just four years ago. In that time, he’s already become one of Calgary’s top-producing agents, funding $22 million in volume last year alone. “He’s a master of social media and treats his forever referring clients like gold,” says DLC Regional Mortgage Group’s Jean-Guy Turcotte. “We are currently transitioning him into a management role at our Calgary location to be one of the leaders who trains and recruits new and existing teammates.”

AGE: 31 MORTGAGE AGENT INVIS MORTGAGE INTELLIGENCE Christopher Gee has only been a mortgage broker for two full years, but he’s already making his name. The 31-year-old finished 2014 – just his second year on the job – with $26 million in volume. “Not bad for a rookie and former cell phone salesman,” says colleague Lisa Valade. “He is one of the hottest rookies at Mortgage Intelligence and was an award winner in his first year with the company.” Gee is also a sharp real estate investor, having turned over almost 30 properties in Canada and the US. And he makes it a point to share the knowledge he’s gained with his clients so they can build wealth of their own.

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YOUNG GUNS 2015

KEVIN HUYNH AGE: 29 MORTGAGE ADVISOR LOEWEN GROUP MORTGAGES Kevin Huynh believes that in order to grow a business, it’s necessary to contribute to the community that supports it. Huynh currently sits on the executive board of the Hamilton, Ont., Chamber of Commerce’s Young Professionals division. And his attitude is paying off – Huynh has been recognized as one of the Hamilton/ Halton area’s 40 under 40. “From first-time homebuyers to savvy investors, I want to provide the best possible advice for them and further educate them to make the right decisions,” Huynh says.

www.mortgagebrokernews.ca

FEATURES

COVER STORY: YOUNG GUNS

YOUNG GUNS 2015

INDEX BY COMPANY COMPANY

GABRIEL GALLUCCI AGE: 34 FOUNDING PARTNER AND MORTGAGE AGENT DENOVA GROUP POWERED BY DOMINION LENDING CENTRES Gabriel Gallucci and his partners founded Denova Group in March of 2013. Since then, Gallucci has taken responsibility for most of the organization’s recruiting, helping to bring in more than 25 agents. He was also instrumental in solidifying Denova Group’s relationship with a top online real estate firm, making Denova Group the firm’s exclusive mortgage provider. And Gallucci also finds time to be a prolific originator in his own right, racking up more than $41.8 million in sales volume in 2013 and 2014, and posting more than $10.2 million already this year.

www.mortgagebrokernews.ca

PAGE NAME

AMBA

Adil Mawji

Broker Financial Group

Tina Francis

Centum Mortgage Choice

Chris Turcotte

Denova Group Powered by Dominion Lending Centres

Gabriel Gallucci

Dominion Lending Centres Canadian Mortgage Experts

Adam Hawryluk

Dominion Lending Centres Capital Region

Henry Gill

Dominion Lending Centres Commercial Capital

Craig Posnikoff

Dominion Lending Centres Coultish & Co. Mortgage Advisors

Adam Coultish

Dominion Lending Centres Easy Street Mortgages

Kevin Liddiard

Dominion Lending Centres HT Mortgage Group

Megan Lemay

Dominion Lending Centres Mortgage Excellence

Chase Cooper

Dominion Lending Centres Mortgage Excellence

Graham Reimer

Dominion Lending Centres Mortgage Force

Sunny Vig

Dominion Lending Centres Mortgage House

Jon McKay

Dominion Lending Centres Premier Financial Group

Dustin James

Dominion Lending Centres Regional Mortgage Group

Alim Charania

Dominion Lending Centres Regional Mortgage Group

Adela Clement-Allen

DurhamMortgage.com

Kurt Henry

Invis Mortgage Intelligence

Bryan Baker

Invis Mortgage Intelligence

Christopher Gee

Invis Mortgage Intelligence

Diana Lee

Invis Mortgage Intelligence

Ron Lefebvre

Invis Mortgage Intelligence

Simon Lyn

Invis Mortgage Intelligence

Annie Mirza

Invis Mortgage Intelligence

Véronique Sergerie

Keystone Mortgage Corporation

Raeann Lefebvre

Loewen Group Mortgages

James Loewen

Loewen Group Mortgages

Kevin Huynh

Mortgage Financial

Brian Hogben

Mortgage Intelligence

Sarah Davison

Pillar Financial Services

Cory Thompson

PropertyGuys.com Mortgage

Sara Howard

TMG The Mortgage Group British Columbia

Dan Pultr

TMG The Mortgage Group Regina

Steve Ryan

True North Mortgage

Steven Levine

Verico Safebridge Financial Group

Drew Charles Donaldson

Verico The Mortgage Wellness Group

Tyler Yates

VWR Capital Corp

Dimitri Kosturos

WCL Capital Group

Richard Earles

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PEOPLE

BROKER PROFILE

Making light of mortgages If Mint Mortgage founder Sarah Schiess can lighten her clients’ loads, she’s all for it – whether that means turning hard-to-understand jargon into an easy-reading guide or offering the best customer loyalty program in the country SARAH SCHIESS didn’t always have a passion for mortgages. In fact, it wasn’t until she had a less-thanstellar experience getting her own mortgage that she decided to enter the market. As a single mother, Schiess was told she didn’t look good enough on paper to secure the mortgage she wanted. But working at a bank, Schiess figured, would look good on paper – so she did just that. “I kind of fell in love with being able to manipulate the system and help other people who might not have been able to be helped otherwise,” says Schiess, who worked at the bank for about a decade, as a teller, customer service representative, back-end support staff and in sales. “[It was] a little bit of everything, which was nice because I learned the ropes and am able to see a holistic view,” she says. “I know what happens at each stage.” But Schiess soon realized the bank’s attitude was that customers were somehow privileged to become clients. “That attitude always bothered me,” she says. “I figured if we could flip it and show people that they’re valued and appreciated and show them that we’re lucky to have them here rather than the other way around – that resonates with people when you make them feel like they matter.” It’s on that attitude that Schiess built Mint Mortgage, under the umbrella of TMG The Mortgage Group.

whole new level. Schiess says her clients most appreciate the fact that she’s easy to talk to and comfortable to be around. Those traits have since been incorporated across the entire Mint Mortgage brand. The office itself is open and inviting, with comfy couches and brightly coloured posters. Silly jokes and funny pictures of animals replace typically dull office art. But hitting that cheery stride didn’t come all at once. Schiess says she initially found herself falling into the typical business trap. “Everything was black and glass and modern and edgy and elegant and suits,” she says. “I just felt like that wasn’t us. We’re more like, let’s kick back on the couch. We post jokes in the office; we have fun, quirky surprises around the office. It’s more in line and more consistent with how we are.”

“If we’re here to be easily relatable to our clients and be part of their conversations and stories, that’s where we need to be”

Refreshing and new Mint Mortgage takes simple and approachable to a

Talk the walk

That consistency is key. Schiess says it’s important that Mint clients know they can expect the same fresh service anywhere they see the Mint name – even on the Internet. Mint has a couple of different websites that play into one another. But what’s striking is the easily accessible language they use on every website and social media page. Schiess and her team have cut through the dense lingo to create a light conversation around mortgages. “Everything we do is focused on our customers, so when we looked at our presence and what we were putting out there – our old logo was ‘Your true partner

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THE BEST OF PERKLAND Mint Mortgage’s Perkland loyalty program offers clients some pretty snazzy rewards. Here are the company’s top three gifts:

Tu-Bees Honey: This locally sourced honey from a company in Saskatoon was a real hit with clients.

Sugru: It’s like Play-doh duct tape, and Mint clients loved it.

The Dipr: Mint clients were so taken with this cookie dipper that, at one point, the company actually ran out of the perk!

in the mortgage process’ – no one talks like that!” Schiess says. Mint clients were staying with the brand because of their no-nonsense language and the easily understandable way they explained the mortgage process. “That was the biggest feedback we got,” Schiess says. “So we figured, why don’t we talk like that normally?” That plainly human way of speaking found its way to the company’s main website and its social media pages, which Schiess says is crucial. “It’s a natural extension of who we are,” she says. “If we’re here to be easily relatable to our clients and be part of their conversations and stories, that’s where we need to be.” That laid-back style of communication also has been incorporated into Mint’s online encyclopedia, Friendlii – a collection of clients’ most frequently asked questions (and answers), which Schiess calls a cross between Google, Wikipedia and Apple iCare – and its Left Swipe Dat guide to mortgage pre-approvals. The guide is short, to the point and funny – one more way the Mint Mortgage crew aims to brighten up their clients’ days. Yet another way they do that is through their customer rewards program, Perkland. “We wanted to come up with a customer loyalty program that was more than just sending somebody a gift card for a referral,” Schiess says. “If we say we’re different, we need to show we’re different and not just say it. When [Perkland] is put all together with everything else, it becomes part of the package and part of the overall experience. There’s not any one thing that we do. It’s a collective experience for the client.”

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FEATURES

MARKETING

The key to creating shareable social media videos Your social media video doesn’t have to include babies, celebrities or dancing in order to become immensely popular, according to Marcus Seeger. Read on to find out how to lift your social media presence to greater heights

IT IS CLEAR that social media has grown rapidly over the last decade, and more recently, there has been a significant growth in social media video. YouTube is the leading social media video platform, but 2014 saw Facebook step up and compete, along with others such as Vine and Instagram. Social media videos are typically shared across a single platform, but recent statistics from YouTube, revealing that 700 YouTube video links are shared on Twitter every minute, and that 500 years of YouTube videos are watched on Facebook every day, demonstrate the increasingly highly shareable nature of social media video across different platforms. There are many reasons why someone will elect to hit ‘share,’ rather than simply like or comment on the video. They might want to be the first to share and be seen as having their ‘finger on the pulse,’ or perhaps gain kudos by association, or maybe sharing is coming from an altruistic perspective. Almost half of video shares occur in the first three days after the video is posted, so it’s critical to promote newly published videos as much as possible in those allimportant early days. As Seth Godin says, you need to get early adopters actively

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campaigning on your behalf to get the ball rolling. When planning your content, it is extremely useful to look at audience profiling and determine what elements are most likely to result in the video being shared. What are your audience’s preferences – do they like funny, cute, funky or inspiring? Much also depends on whom your audience is sharing the video with. Who are their friends, and who is in their network? What interests and passions do they share? Can you somehow tap into the zeitgeist? One element popular videos have in common is that they hit emotions very hard. It’s not enough for a funny video to make you smile – you need to be laughing loudly before you even think about sharing it. Think about the videos you personally share on social media, and ask yourself why you shared them. This will help you gain insight into your own experiences, and that knowledge can help you identify triggers in others. Here are five key strategies for creating popular shareable social media videos.

Educate your audience

The ‘how-to’ genre is often overlooked, but it offers significant opportunities to create popular shareable content. Typical how-to videos are not particularly complex to create and can offer a solid ROI, particularly if you focus on a topic that is in high demand. The popular ‘life hack’ sub-genre is a good example of a successful how-to niche. A proven approach is to share significant insight and provide truly valuable content, as this is more likely to be shared. If you’re concerned about protecting what you know, you must move on from this mindset and share some of your most valuable content if you are looking to create the type of video that will be popular. By sharing your insider knowledge or ‘secret sauce,’ you have a good chance of standing out from the crowd.

Go for entertainment value

Video that entertains will, in most markets, have a higher chance of being

shared. Can you think of a funny angle on your industry, or perhaps a clever parody or spoof that can be turned into a video? While these types of videos will have more of a

Typical how-to videos are not particularly complex to create and can offer a solid ROI, particularly if you focus on a topic that is in high demand hit-or-miss success rate, if they work, then they typically do very well. But be prepared for an epic fail if it all turns pear-shaped – can your business (and your ego) handle this?

Engage with a story

Storytelling is so incredibly powerful because it’s built into our DNA. If you go back hundreds of thousands of years to early mankind, we used to communicate knowledge through storytelling. Today’s digital campfire hasn’t really changed all that much, and videos that have strong narratives are predisposed to being shared with friends, peers and beyond. Is there an element of your business or product that has a strong story behind it that would engage your audience enough to make them ‘tell the world?’ Keep in mind that the key to a good story is to be authentic. Certainly don’t pretend that the story is something that it’s not, because online audiences are very media-savvy and will notice right away if your story is a fake. And remember to make your story entertaining. It is a wonderful opportunity to put some thought into your script. Make it the best that it can be. Your audience will appreciate it, and you will benefit from the results.

Become crystal clear on outcomes

Don’t be daunted when you see videos with millions of views or thousands of shares; instead, be inspired. You must have courage, because until you publish your video, you will not know how it will be received. It’s important to set goals and determine how to measure ROI. You will need to set your own standards to measure the success of your video. For a small business startup, just 100 shares might well offer unmeasurable business opportunities if the right people watch the video. What does success look like for your video?

Be remarkable

A video that stands out by going against the grain of audience expectations is often a recipe for success. The 2014 #likeagirl campaign from Always is a good example of developing a theme in a direction that is not immediately predictable. It also picks up on strategies 2, 3 and 4 outlined above. (Watch it at http://youtu.be/XjJQBjWYDTs.) If you want people to share your video, it needs to be unique in some way. The ‘same old, same old’ content quickly gets stale and simply will not be shared. Creating shareable social videos is perhaps more challenging today, as there is simply an avalanche of content, and audiences don’t have the time to consume even a fraction of it. We are experiencing ‘content shock,’ which is why Facebook filters out the majority of possible content and serves only what is most likely to be of interest to us. Your challenge is to create original, authentic, entertaining videos that inspire your audience to hit that magical ‘share’ button. It’s a challenge worth aspiring to, as the benefits of a popular social media video that is highly shareable can be extremely profitable.

Marcus Seeger is the number-one Amazon bestselling author of Video Marketing for Profit: 14 Proven Strategies for Accelerated Business Growth. He is also the managing director of video marketing and production agency Video Experts. For more information, visit www.videomarketingforprofit.com.au.

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FEATURES

VOLUNTEERING

Does corporate volunteering really work? Does letting staff go out and volunteer one day a year really create value for the charity? Peter Baines outlines a different approach to corporate volunteering – one that all parties can truly benefit from I OFTEN get asked the question: Does corporate volunteering really work? To put it simply, it can, but it often doesn’t – and even if it is working, it’s very unlikely to be reaching its full potential. As a senior executive, partner or director of a business, setting the strategy for the organization is part of your duty. Maximizing returns for the partners or shareholders is also part of your fiduciary responsibility. Getting your corporate social responsibility strategy right can and should be a profit centre back to your company, and how you deploy your resources in this area is very much part of that strategy. Corporate volunteering, in the traditional sense, is when businesses give their staff one work day to volunteer with their charity of choice – a tactic that is probably wasting both the company’s time and that of the charity partner. You may ask, “How can this be a waste of time for the charity? We are skilled professionals working for free to make a difference.” Put yourself in the charity’s shoes, and consider that you have a well-meaning, highly qualified individual turn up for the day to help. Just for one day. Once a year. After you get the introductions out of the way, have shared a coffee and arranged a

security pass, the charity has approximately six hours worth of productive time left before you leave their office and return again, perhaps, in a year’s time. No one stands to get much value out of this type of relationship because, really, how can they? One of two things is likely to happen when staff members participate in corporate volun teering. Those who take the day off and work productively with a charity have most likely been doing some sort of volunteering for

several years, and it is already part of their life. The business giving them the day off just allows them to go on company time. The other likely scenario is that the employee’s volunteering day is spent at the beach, where they’ll be working hard on catching waves or getting a tan.

So, can it work? The answer is yes, it can work. Just like any other initiative the company takes, if there

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is a considered strategy behind the program, there is a greater chance of success and a meaningful value exchange between both parties. In Doing Good by Doing Good, I share a number of examples as to how corporate volunteering can work, from large firms down to small businesses and even sole practitioners. Often the most effective resource you can offer a charity or nonprofit is those skills you use on a daily basis and get financially rewarded for. If you are an accountant, lawyer

volunteering really for?” If the honest answer is the charity partner, then the provision of professional services they are in need of will achieve that outcome. If it is more akin to a team-building exercise, and the charity is the vehicle for that program, then the direction of the program is different. The latter is not wrong, just a different approach with a different outcome. It’s about getting the strategy right, and this is where the opportunity to create a meaningful experience really exists.

Often the most effective resource you can offer a charity or nonprofit is those skills that you utilize on a daily basis and get financially rewarded for or provider of professional services, there is a strong chance that you are better at providing those services than you are at building houses or mending leaking roofs. Sashi Veale of Sashi Veale and Associates is an accountant who, for years, has been supporting charity by preparing the financial accounts for a select number of charities on a voluntary basis. She does this above and beyond her commercial work, and, although I haven’t seen Sashi on the end of a hammer, I have a strong suspicion that the value she brings to the charities she supports is far greater through her provision of ‘voluntary’ professional services. After all, this is what the charities she supports need. Part of the argument around corporate volunteering is, if the firm that I’m a partner of only offers our professional services on a pro bono basis, do we miss out on the engagement and the shared experience of actually ‘getting our hands dirty?’ After all, isn’t part of a good corporate social responsibility program the shared experience that leads to higher levels of staff engagement, improved morale and increased staff retention, and if so, how is doing more of what they do, but for no fee, achieving that outcome? This is where a strategic approach is required. Ask those internally who are par ticipating in the program: “Who is this

Is one day per year helpful? Let’s return to the concept of volunteering one day per year. You might be the senior executive or director of an organization with 400 people. You offer each of them one day off a year to volunteer with their charity of choice, or perhaps with the charity your business supports. The first question to ask is how many of those 400 staff actually avail them selves of the day and use it for the intended purpose? Of those, how many are providing meaningful assistance to the charity they are working with? And finally, how many of those who don’t take it would be happy to see it used by someone who was interested and did have the relationship? This is where we can leverage some real value. If two-thirds of the staff donated their day back to the organization, and those days were taken consecutively by one person to work at one organization, this would give the charity a dedicated full-time worker for the entire year. Now we start to see real value to the charity. What flows back to your business? A story of meaningful change – one person working full-time leading a project within a charity can bring about real change. So, does this mean there is no place for the group volunteering days when we all put

on overalls and insert a paint brush into our right hand? No, it does not. One of the most memorable days I have had working with a corporate team was when I led 103 members of AIA Insurance into the Khlong Toei slums of Bangkok in Thailand. For close to eight hours, they toiled away in a place they had never been and were unlikely to ever return, for people they had never met nor were likely to meet again, but they had one of the richest shared experiences you can imagine.

KEY QUESTIONS If you have volunteering as part of your CSR platform or you are looking to introduce it, ask yourself a number of questions: Is there a strategy behind our corporate volunteering? Is it aligned to our values? Who is it really designed to benefit, and are those who are meant to benefit from the program in fact doing so? Can we re-engineer our volunteering to create a multiplier effect or shared experience? What is the return to our business, and how are we measuring it? If you can answer the last of the questions above in the affirmative and clearly articulate the program’s positive return to your business, then you are well ahead of 90% of organizations who are engaged in corporate volunteering. If your answer to the final question is in the negative, then you are missing opportunities and are failing to capitalize on the returns you could be bringing in. It’s not only in the communities’ interests for you to get this right – it is in your interests as well.

Peter Baines, OAM, became passionate about sustainable leadership after he was part of the natural disaster response team for the 2004 Boxing Day Tsunami. Today, he helps businesses build effective sustainable leadership. He is the author of Doing Good by Doing Good. Find out more at www.peterbaines.com.au.

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PEOPLE

CAREER PATH

FOLLOWING HIS BLISS Brian Hogben’s passion for the mortgage industry started with a foray into real estate investing – and he hasn’t looked back since

2013

OPENS SATELLITE OFFICE Hogben still operates under the Mortgage Financial brand, but he now runs a satellite office in Hamilton, Ont., with his brother. The office has grown to 13 members, including seven licensed agents and two admin staff “Our vision right now is world-class service. Most people equate getting a mortgage to getting a root canal. We really want to change that”

2015-2016

WRITES A BOOK Hogben’s latest project is writing a book that will marry his passion for real estate with his knowledge as a mortgage broker

“I’m trying to encourage young people to make different and better financial decisions. If kids knew they could make mistakes now, they would have so much more time to recover than if they were in their 30s, 40s or 50s”

2012

JOINS MORTGAGE FINANCIAL CORP.

2004

After several years as a mortgage specialist, Hogben found himself getting complacent and began looking for a change “I wanted to have more options for my clients. The landscape of the market was changing. I couldn’t give all my clients the help I wanted to. I wanted to be their mortgage advisor for life, and at the bank, I couldn’t”

BEGINS WORKING AS A MORTGAGE SPECIALIST

2004

PURCHASES AN INVESTMENT PROPERTY While in Australia, Hogben developed an interest in real estate investing. When he moved back to Canada, he purchased his first investment property, a duplex “I’ve been investing in real estate ever since. That’s been a passion. I really saw possibilities for people to retire or create real wealth if they bought properties” A self-described “long-haired kid,” Hogben couldn’t decide if he wanted to be a rock star or a banker. But when he landed a co-op position at Scotiabank in high school, the bank, which offered him “room to grow,” eventually won him over, and he went on to pursue a business degree at Mohawk College

Around the time he bought the duplex, Hogben took another big risk: accepting a commission-based role as a mortgage advisor with Scotiabank, which he hated for the first two years “In my third year, things started to hit and grow. I started hitting the Platinum Performers Club”

2002

MOVES TO AUSTRALIA

1997

GETS A BANK CO-OP JOB

Hogben worked at the bank while earning his degree, and soon decided to pursue higher education. In January 2002, he left for Australia, where he attended the University of Western Sydney to study international management. While there, Hogben again found work at a bank – Westpac Bank – which provided him a hands-on complement to his degree

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PEOPLE

OTHER LIFE

TELL US ABOUT YOUR OTHER LIFE Email mortgagebrokernews@kmimedia.ca

Average speed, in km/h, boats must travel to support barefooting

BARE NECESSITY Barefoot waterskiing has helped Cory Rowland, owner of Trilogy Mortgage in Calgary, achieve that elusive work-life balance

CORY ROWLAND wasn’t interested in barefoot waterskiing the first time her husband tried to teach her. But around the time she joined the mortgage industry in 2000, Rowland accompanied her husband as he trained with world champion Ron Scarpa. “I came to think, ‘If the world champion can’t teach me, I’m not doing this anymore,’” Rowland says. As it turns out, the barefooting world champ was a great teacher, and Rowland soon found her passion for the sport, participating in several

Number of national and international competitions Rowland has participated in

1070

Highest score Rowland achieved for a trick run in competition

competitions, including the Canadian Barefoot National Championship and the Senior World Championship. Her favourite aspect of the sport, however, is the fact that it’s become a big part of her work-life balance, offering a reason to spend time with her husband and kids. “It’s great family time, especially considering how busy it is being a mortgage broker,” she says. “That’s been the biggest thing – the time spent in the boat with the kids and the camaraderie with all the people who do barefoot waterskiing.”

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