CMP 11.05 by Key Media

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AND THE WINNERS ARE ... Hear from the brokers and firms who won big at the 10th annual Canadian Mortgage Awards

COLLIN BRUCE The industry’s top-grossing broker reveals the keys to his phenomenal success

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STRETCHED TOO THIN Will Canada’s record-high level of household debt spell doom for the mortgage industry?

UP IN SMOKE Forecasting the impact of the Fort McMurray wildfire on Alberta’s housing market

2016-05-20 10:05:45 AM

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ISSUE 11.05

CONTENTS

THE CANADIAN MORTGAGE AWARDS COVER STORY

Find out who took home the coveted trophies on the Canadian mortgage industry’s biggest night

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ISSUE 11.05

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CONTENTS

The mortgage industry responds to the Fort McMurray wildfire

14 Multi-generational housing is poised to be the next big thing in the market – and that’s good news for brokers’ bottom line

NEWS ANALYSIS

A twist of fate brought Mark Kerzner into the mortgage industry; nearly two decades later, he’s still singing its praises

06 Statistics

Canada’s household debt has hit a new high – but has it peaked yet?

08 Head to head

What will it take to unite the mortgage industry under one association?

12 Private lending update

Real estate crowdfunding takes another hit in BC

16 Opinion

Not getting the level of business you want? The problem might be you

PEOPLE

UPFRONT

INDUSTRY ICON

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04 Editorial

INVESTMENT UPDATE

PEOPLE

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UPFRONT

Could the devastating wildfire in Fort McMurray have a silver lining for the town’s economy?

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62 Career path

58 PEOPLE

BROKER INSIGHT

Taking big chances has paid equally big dividends for broker Michael Sjerven

64 Other life

Mortgage broker and singer Jennifer Matthias hits all the right notes

Collin Bruce continues to post record-breaking numbers despite working out of struggling Alberta. He shares his secrets with CMP

60 FEATURES

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How to get – and receive – helpful feedback at work

MORTGAGEBROKERNEWS.CA CHECK IT OUT ONLINE

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UPFRONT

EDITORIAL

The disaster felt country-wide

he mortgage industry has proven time and again just how much its members care about their individual communities. And this dedication was evident once more following the devastating wildfire in Fort McMurray. The disaster, which has levelled a great deal of the city, is already considered the most expensive disaster for insurers in Canadian history. At press time, it continues to rage on. But the citizens of Fort McMurray haven’t had to go it alone. Canadians across the province have taken families in, and Canadians across the country have donated money to aid in relief. Unsurprisingly, many of those lending a helping hand are the industry’s own. It’s the sort of disaster that hits home for mortgage brokers, whose life’s

It’s the sort of disaster that hits home for mortgage brokers, whose life’s work is dedicated to helping people achieve the dream of homeownership work is dedicated to helping people achieve the dream of homeownership. To see that dream destroyed has taken its toll on industry players – not to mention those affected on the ground floor. Yet, isn’t it just like us Canadians to find the silver lining in even the worst scenario? The prevailing message is that Fort McMurray – and, indeed, its citizens – will be back with a vengeance when the smoke (quite literally) clears. And you know there will be lenders and brokers ready to step in when the time inevitably comes to rebuild. The team at Canadian Mortgage Professional

www.mortgagebrokernews.ca ISSUE 11.05 EDITORIAL Editor Justin da Rosa Writers Donald Horne Joe Rosengarten Libby Macdonald Executive Editor – Special Features Ryan Smith Copy Editor Clare Alexander

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UPFRONT

STATISTICS

Does debt still matter?

DELINQUENCY ON THE RISE According to Equifax, there has been an increase in debt servicing delinquencies, especially in oil-producing provinces. However, the nationwide delinquency rate continues to hold steady.

The real estate market keeps sizzling, but will household debt burn it all down? THOSE WHO were worried about Canada’s record levels of household debt have new cause to be concerned. Household debt rose to a new high in the fourth quarter of 2015, fuelled largely by mortgage growth. According to a March report from Statistics Canada, total household credit market debt – which includes consumer credit, as well as mortgage and non-mortgage loans – increased 1.2% to $1.923 trillion at the end of 2015. That means the ratio of house-

1.2%

Increase in Canadians’ household debt in the fourth quarter of 2015

0.6%

Increase in Canadians’ income in the fourth quarter of 2015

hold debt to disposable income is now at 165.4% – or, in other words, Canadian households have an average of $1.65 in debt for every dollar earned after taxes and other government fees. Does the upward spiral of household debt demand greater restrictions on home loans and the mortgage industry? While new rules have put the market in a better position, it appears the public appetite for debt has yet to be sated.

13.8%

Average portion of disposable income devoted to debt servicing

British Columbia Average debt*

$23,040 Delinquency rate change

5.6%

2.9%

Increase in debt servicing delinquencies among young people

*Excludes mortgages

Source: Statistics Canada

CANADA WORST OUT OF G7 NATIONS … Since 2000, Canadian households have led the G7 nations with the biggest debt-to-income loads, according to a Parliamentary Budget report.

$1.9 TRILLION OF DEBT When it comes down to dollars and cents, Canadians’ debt adds up into the trillions – and the lion’s share can be directly attributed to mortgages

$1.923 trillion Total household debt

$1.262 trillion Mortgage debt

$473.6 billion Consumer credit debt

Debt-to-income ratio (2014) Italy Germany France US UK Canada

Source: Statistics Canada

90% 94% 105% 113% 156% 166%

Source: OECD Data

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Alberta Average debt

$27,576 Delinquency rate change

25.1%

Prince Edward Island

Average debt

$22,766

$21,483

Delinquency rate change

11.8%

Manitoba

Quebec

Average debt

$17,913

$18,070

Delinquency rate change

6.4%

Newfoundland

2.4%

2.5%

Saskatchewan

Ontario

Average debt

$23,941

$21,072

Delinquency rate change

14%

6.3%

New Brunswick

Nova Scotia

Average debt

$22,107

$21,709

Delinquency rate change

4.1%

2.2% Source: Equifax Canada

… BUT NOT IN THE WORLD

NET WORTH ALSO ON THE RISE

While Canada may lead the G7 in household debt, there are other countries that are much worse off – including Scandinavian countries that are frequently lauded for their lifestyle.

While debt keeps rising, the silver lining is that financial assets and net worth rose as well – up 1.5% from the previous quarter, amounting to $9.479 trillion, or $263,200 on a per-capita basis.

Debt-to-income ratio (2014) Canada Sweden

166%

1.6% increase in household net worth

173%

Australia

205%

Ireland

207%

Norway Netherlands Denmark

2.2% increase in financial assets 0.7% increase in non-financial assets (including real estate)

224% 274% 305% Source: OECD Data

Source: Statistics Canada

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UPFRONT

HEAD TO HEAD

Who speaks for the mortgage industry? Many brokers are wondering what the industry needs to do to have a strong, united voice at the national level

Gord McCallum

James Loewen

President/broker First Foundation

Owner/broker Loewen Group Mortgages

“I’d say the key ingredients [to building a united voice] are personal and organizational leadership. Personal because we need someone who can share the vision with so much passion that brokers are compelled to follow, and organizational because we need someone who unites the regional membership organizations with the national organization, rather than sowing division and hostility. While I do believe the entire industry is often served by competitive ideas, standards and practices, it is also an administrative and marketing burden that does not benefit from economies of scale. I’d like to see us eliminate as much waste and duplication as possible while ensuring that regional voices are heard.”

“I think back to a conversation I had with Boris Bozic – we hypothesized what the results would be if every mortgage deal paid had one basis point contributed to a collaborative ‘pot,’ and those funds were allocated to marketing and consumer awareness regarding the benefit of using mortgage brokers, and what an impact that would have on the penetration of the use of brokers over banks. The direct impact to the broker would be minimal, as many brokers are giving up far more at 20 to 50 points to ‘win’ deals in competition amongst themselves. If this one point was able to double our penetration via education and awareness, we could see reduced buy-downs and a far greater return.”

Ron Alphonso

Mortgage agent MortgageBrokerStore “The internet is breaking down provincial and national barriers to financial services, and it is starting to have a disruptive impact on the Canadian mortgage industry. A broker in Ontario can be arranging a mortgage for an owner who lives in Quebec, with property in Alberta and a lender in British Columbia. Even worse, a broker in Ohio can be arranging an Ontario mortgage with a lender in Texas. If we do not have one strong national organization representing our interest, what happens when large online lenders enter the Canadian market? Consumers will go to the lowest-cost provider regardless of regulations. Do we want to be in the same situation as the taxicab industry fighting Uber? I think not!”

HOW MANY IS TOO MANY? There’s no shortage of mortgage broker associations in Canada. At the national level, the newly rebranded Mortgage Professionals Canada, the recently launched Canadian Mortgage Brokers Association and Women in the Mortgage Industry vie for members and their attendant dues and attention. Organizations such as the IMBA, the MBABC and the AMBA do the same wrestling for notice at the regional level. Many brokers feel there are too many organizations for a relatively small industry, and that a unified national organization would help bring greater focus to the industry’s top priorities.

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UPFRONT

NEWS ANALYSIS

Fort Mac’s post-wildfire prospects The full impact of the wildfire that destroyed a great deal of Fort McMurray’s housing has not yet been felt – but some industry pros are suggesting it will eventually provide an economic boost to struggling Alberta

THE WILDFIRE burning in Fort McMurray is already the costliest national disaster for Canadian insurers, and it will take years to fully restore the city to its former glory. And while initial sentiment was that Fort McMurray’s economy would take a massive hit, some mortgage professionals are arguing the disaster could actually help kickstart the economy, which has been struggling for the last several months. “I don’t know what the long-term effects will be. It seems there is going to be a construction boom, which will tide a lot of people over until oil recovers,” says David Niven, managing director of Dominion

“It will be interesting to see what happens there,” says Michael Cameron, president and CEO of Axiom Mortgage. “The jobs and things that were there aren’t going away. This may actually be a kickstart to the economy, given the amount of money that will flow back in there to rebuild. “That’s always a question mark,” he continues. “But people are there for a reason in the first place. We have a lot of folks who do a substantial amount of business, and they love the community.” Of course, the immediate focus in Fort McMurray is on managing the fire and ensuring everyone’s safety.

“This may actually be a kickstart to the economy, given the amount of money that will flow back in there to rebuild” Michael Cameron, Axiom Mortgage Lending Centres Mortgage Mentors. “The hope is that it will spur the economy by providing jobs to people sitting at home waiting for oil to rebound.” It’s an opinion shared by one leading mortgage veteran.

“Obviously they need to take care of their immediate needs,” Cameron says. “Then it’s just a matter of working with their home insurer and their lender to find out what their options are. Obviously lenders and insurers are working to help out when they can.

Everyone is working as best they can to find solutions. It’s really a matter of getting in touch with your insurer and lenders.” The fire, which started on May 1, is considered the largest evacuation due to fire in Alberta’s history. At press time, the fire conditions remained extreme – a total of 15 wildfires were burning, covering an area of 284,214 hectares, and three were considered to be out of control. “Last week, five conditions were identified that need to be in place for the safe re-entry of Fort McMurray residents,” Alberta Premier Rachel Notley said in a release on May 16. “Work has been progressing on all these fronts, in some cases faster than expected. But this remains an active fire zone, with significant

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MAJOR NATURAL DISASTERS THIS DECADE

air-quality concerns that may delay recovery work and a return to the community. Public safety remains our first priority.”

money and rebuild elsewhere. Niven argues that most will choose to stick around. “If they rebuild, the insurance will only be

“The hope is that it will spur the economy by providing jobs to people sitting at home waiting for oil to rebound” David Niven, Dominion Lending Centres Mortgage Mentors It is estimated that around 2,400 homes and buildings have been destroyed. That’s a lot of misplaced families, leading many to wonder whether those impacted will choose to return to Fort McMurray or to take their insurance

for replacement value,” he says. “I would suggest that, more than likely, they’re only going to be able to rebuild. Otherwise, they’ll be underwater. That’s a concern.” However, others feel that this could give

September 21, 2010 Hurricane Igor Newfoundland Damage: $200 million

May 15, 2011 Slave Lake fire Alberta Damage: $750 million

June 2011 Assiniboine River flood Manitoba Damage: $1 billion+

August 21, 2011 Goderich tornado Ontario Damage: $130 million

June 20–July 12, 2013 Alberta floods Calgary Damage: $5 billion

May 1, 2016 Fort McMurray wildfire Alberta Damage: $9 billion+ (estimated)

residents the impetus they’ve been looking for to get out of the beleaguered province. “People won’t want to come back,” says Tim Mangat, a Calgary-based Realtor with CIR Realty. “There was a huge number of people already trying to sell their homes, and prices were already going down.” As the fire continues to burn, it remains to be seen how the housing market will be impacted – and how other surrounding markets will be affected. “We’re still pretty early on in it,” Niven says. “Everyone has questions about how it will impact Edmonton. I would suggest a bit of a bubble in Edmonton – [it will] push the rental market in Edmonton, [and] sales as well.”

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UPFRONT

PRIVATE LENDING UPDATE NEWS BRIEFS Ontario syndicated mortgage sales reach nearly $4 billion

Sales of syndicated mortgages for condo units in Ontario reached nearly $4 billion in 2014, the last year for which figures were available, according to FSCO. Writer Chris Sorensen noted in Maclean’s that syndicated mortgages provide plenty of advantages. “Unlike other pooled real estate investments, syndicated mortgages allow investors to pick which projects they want to be involved with and secure their portion of the mortgage on the property in question,” Sorensen wrote. “If the project performs well, investors may be eligible to receive extra payouts. If it goes bankrupt, investors can theoretically recover the principal amount of their loans following the sale of the property.”

Private lending growth expected to continue Private lending has boomed since regulations have tightened on traditional lenders, and many lenders expect that to continue. “In my opinion, what I see here is that there is a heavy demand for private financing,” said New Haven Mortgage Corporation’s Daniel Vyner, adding that private lenders have the benefit of not being tied to government yields and rates when setting prices. “With private rates, it’s hard to speculate [where they will go] because there is no formal plan to raise rates,” Vyner said. “As a MIC, all of our money is private-based and the same old story: rates must be attractive, and yields must be attractive for investors.”

Atrium MIC achieves record first quarter Atrium Mortgage Investment Corporation saw record results in the first quarter; assets grew to $460 million. Mortgage interest and fee

revenue totalled $10.1 million, a spike of 6.6% from the previous year. The quarter also saw $59.8 million in gross new mortgages advanced, and $49.3 million in gross mortgages repaid. Eighty-three percent of Atrium’s mortgage portfolio consisted of first mortgages, and 96% of the portfolio was less than 75% loan-to-value.

Brokers may be wary of syndicated mortgages

Syndicated mortgages have recently drawn sharp criticism from some quarters as risky investments. “We’ve expressed concerns about the way these investments are portrayed because we’ve seen some advertising materials that tend to portray them as very safe and very secure investments, and they’re really neither,” Neil Gross, executive director of the Canadian Foundation for Advancement of Investor Rights, told the Toronto Star. A recent MortgageBrokerNews.ca poll found that 56% of brokers have never offered private mortgages, and 7% of brokers who once did no longer do so. But 25% of respondents said they did currently offer the product, and 12% said they would consider offering it in the future.

Trez Capital partners with Forman to expand US footprint

Trez Capital has expanded its lending platform further into the US through a new partnership with Forman Capital and the launch of Trez Forman Group. “We are focused on becoming one of the largest providers of short-term commercial financing in North America,” said Trez chairman and managing director Morely Greene. “The resources and expertise that Forman provides will enable us to aggressively continue the pursuit of this vision.” Forman, a direct lender to middle-market clients, has funded more than $400 million in transactions since 2004.

Crowdfunded real estate draws more scrutiny One MP says BC is promoting a “Wild West” real estate market by allowing crowdsourcing to run amok The controversy over crowdfunded real estate continues as British Columbia’s government is accused of fostering a “Wild West” real estate market. Earlier this year, a South China Morning Post investigation cast light on a series of property deals in Vancouver that used crowdfunding to raise massive sums. The newspaper found that shares in a downtown Vancouver property valued at $16 million had been sold for a total of $60 million in just two hours. The property was then resold for $68 million just a month after the investors took ownership. Because both transactions were structured as the sale of the company that owned the property – rather than the property itself – the buyers avoided tax bills of $1.8 million and $2 million, respectively, and the sale didn’t appear in land title records, the paper reported. BC opposition leader John Horgan took exception to that, calling for stricter oversight of real estate crowdfunding. The New Democratic Party member used question time in the legislature last month to grill Finance Minister Mike de Jong about the legalities of large-scale crowdfunding, asking, “How can a company raise $200 million for real estate deals on Facebook without the Securities Commission stepping in and shutting it down?”

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Horgan was referring to the sale of the Vancouver site, which was organized by Julia Lau Chi Yuen, former vice president of Sun Commercial Real Estate, who sought investors over Facebook. The South China Morning Post report also linked Suncom to other purchases worth $30 million and $103 million.

“How can a company raise $200 million for real estate deals on Facebook without the Securities Commission stepping in and shutting it down?” Companies in BC are restricted from crowdfunding more than $500,000 per year, but Horgan said Suncom “appears to be crowdsourcing massive real estate deals.” The company said that while Lau was allowed to use the title of vice president for “a few months” last year, she was never an officer or employee.

Q&A

Behdad Hosseini Director ASCEND MIC

Years in the industry 13 Best thing about the industry “We can bring value to the table for our borrowers. They would not have been able to afford their primary residence if it hadn’t been for someone like us. It makes me really happy when I see I can make a difference.”

Private lending’s phenomenal growth rate How are things in the private lending space right now? To be honest with you, I think it’s a great time right now. The only problem is that market appreciation in the last 12 to 18 months has been really beyond expectations. I would categorize it as a little bit problematic because properties have appreciated at a higher rate than what we would have expected. So I think there’s some element of speculation there, but at the same time, demand – especially for residential real estate – remains very healthy. So we do have some concerns with respect to valuations. For the most part, it’s not a big problem. However, it is something that we’re watching. Are any challenges presenting themselves right now? The market for A lenders, meaning banks and larger financial institutions – their requirements are becoming increasingly difficult. As a result, the space for nonconforming or Alt-A mortgages is expanding. So we expect that the market will be growing at 30% to 35% per year in the alternative space as a result of all of those restrictions. Right now it’s a small percentage of the overall market, but the growth rate is absolutely phenomenal. So how do you compete in an increasingly crowded field? It’s not yet that crowded. However, that’s my expectation – that in a couple of years, there will be a lot of new players taking advantage of the growing marketplace. We are very much service-oriented. The communication with the broker channel has to be constant, on time and professional. With funding of the mortgages, we have a five-business-day guarantee where, when everything is finalized, we fund the mortgage within five business days. We also have a guarantee whereby we will provide an answer within four hours. If the answer is positive, within 24 hours we will issue a commitment. Essentially, we’re trying to differentiate our brand by providing faster, better, more professional service. Are there any greater economic trends particularly affecting the private lending space right now? We’re out of Toronto, and there are around 85,000 people coming to this area every year. The demographic trend is definitely healthy. We have not faced any issues as a result of the price correction of commodities, so everything remains healthy here in southern Ontario. However, valuation is increasingly becoming a concern. It’s not there yet, but it’s something we’re monitoring on a daily basis. I think it’s a great space to be in. We look forward to graduating to higher levels as our capital base increases over time and we attract more and larger investors. We look forward to becoming a much larger institution. Right now we have a limit of $1 million, and we look forward to increasing that next year to $2 million.

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UPFRONT

INVESTMENT UPDATE

The housing type about to sweep the nation This trend in housing will help your clients more easily afford a home – and net you larger commissions

to consider multi-generational homes, Dreessen says. “Housing prices we see for larger apartments and units price families out of the market for entry-level homes,” he says. “So, these forces are combining to suggest that a smaller-scale density – the three-storey, four-storey home – that has both the rental income capacity or commercial use combined with multi-generational housing allows you to address a number of issues [such as] affordability and long-term sustainability of

“Think of the possibilities of buyers being able to redevelop or reinvest to have a basement rental unit and have their elderly parents move in” Multi-generational homes are the way of the future, according to one architecture expert, who points out that they provide a more affordable option for homebuyers. “I think Realtors should be keeping an eye out for homes that can be adapted for this possibility without huge modifications or land that can be easily redeveloped,” says Toon Dreessen, president of the Ontario Association of Architects. “[Buyers] may not be able to afford this home on their

NEWS BRIEFS

own, but think of the possibilities of being able to redevelop or reinvest to have a basement rental unit and have their elderly parents move in; that flexibility allows homeownership to become more affordable.” The trend in multi-generational homes, much like the trend in condos, is borne of an increased desire to densify in big cities. However, because raising families in smaller apartments is more difficult – for obvious reasons – that’s pushing many buyers

Taxing foreign investors would harm our image

Many have argued in favour of the federal government implementing measures to discourage foreign investment in the housing market, but one of Canada’s leading real estate veterans is arguing against the idea. “I was asked … if I supported new taxes on foreign investors. I think the answer is you need to be a lot more thoughtful than a yes or no,” said Phil Soper, president and CEO of Royal LePage. “Kneejerk public policy like a change in taxes for political reasons would be a very sad move for a country known for its tolerance.”

the investment.” And while multi-generational homes might cost buyers more in the short-term, they do allow them to afford more home with the help of their parents. “The challenge of millennials (or Baby Boomers) is having elderly parents who aren’t ready or don’t need to be in a care facility, but you also don’t want them to be living alone,” Dreessen says. “It allows you to bring these factors together.”

Canada’s best-kept secret about to boom?

Many agents have predicted sales and price hikes for the Victoria market – has that time now come? As Vancouver homeowners cash out, Victoria seems to be benefiting. “Vancouver residents that have decided that now is the time to sell their high-priced home in Vancouver, and they are choosing Victoria as one of their main cities to move to,” said Re/Max agent Dale Sheppard. “Victoria is now a prime destination for Vancouver residents who have basically won the lottery by obtaining extremely high prices for their homes.”

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Q&A

Jeff Murray

Why now is the time to invest in Eastern Canada

President CANADA HOMES FOR RENT

Fast fact Murray, a serial entrepreneur from Saint John, New Brunswick, was prompted to launch a business to help other building owners when he noticed how poorly many buildings were managed

Atlantic Canada is often overlooked by investors. Why should they focus on properties out East? Often investors will overlook Atlantic Canada because they look for large growth and appreciation of the properties. We are more of a buy-and-hold market that will give you positive cash flow throughout the time you own. Real estate out east allows investors to build their portfolio more quickly, as your dollar goes much further.

What sort of properties are best suited for new investors? What about experienced investors? For new investors, I always recommend they go with a single-family home to start. The reason for this is you can get into the home relatively cheaply, averaging $120,000 to $150,000 for a three-bedroom bungalow. You can take this same bungalow and, with a few minor improvements, rent it for $1,250 to $1,400 per month plus utilities. There are also many three- and four-unit buildings for around the same price range. The house purchase is recommended mostly due to resale – if you decide to sell your property, the options for selling are far greater. The more experienced investor may want to look at larger multi-unit buildings, such as 12-unit and larger, which will range in price, but typically can start around the $600,000 range. These buildings will allow you to get larger positive cash flow, which could reach $1,000 to $1,500 per month. There are also great opportunities in the commercial real estate market for the more savvy investor.

Urbancorp addresses its financial issues

Toronto-based developer Urbancorp is scaling back on future developments and laying off staff in the wake of its recent bankruptcy. “Unfortunately, the need to match expenses to revenues, together with our focus on existing projects and a scaling back of future development, has required us to implement the laying off of a number of our valued employees,” said Urbancorp CEO Alan Saskin. Urbancorp has pledged to complete its current developments under construction while it endeavours to resolve its issues.

Which areas are most attractive to investors? The most attractive areas typically are Halifax, Nova Scotia, and Moncton, New Brunswick, mostly due to their larger populations. I caution investors to not always look to where everyone is buying, as it can mean more competition and the potential for high vacancies. I would want to look at options that give me the best opportunity to have positive cash flow and low tenant turnover.

What sort of tenants can you expect in Atlantic Canada? Depending on the area where you decide to purchase, you’re going to get a mix of low-income and middleto upper-class. This can fluctuate just by walking a few blocks. For example, in Saint John, I find the lower-income housing has very low vacancy; however, along with that, we subject ourselves to issues arising over having that type of clientele. Our middle- to upper-class units can see much of the same, but you have to purchase in the right areas. If you have a building located in a rougher part of town, this will make it more difficult for you to attract the type of tenants you may want. All in all, the Atlantic region has to deal with much of the same issues the rest of the country has to deal with when it comes to renting. Our biggest claim to fame is and always will be that your money will take you much further, which should rank high on your priority list as you begin to build your portfolio.

Sobering stats for agents in one flagging market

The once-hot Calgary market continues to take a beating – and so do its workers, according to recent statistics. “Earnings in Alberta fell 3.4% to $1,118 in the 12 months to February, continuing a trend of year-over-year declines that began in the summer of 2015,” Statistics Canada said in its most recent payroll employment, earnings and hours report. “February 2016 employment losses in the high-earning mining, quarrying and oil & gas extraction sector contributed the most to the decline in average earnings for the province.”

CMHC continues to sound alarm of overvaluation

In its Q2 Housing Market Assessment, CMHC continued to warn of overbuilding and overvaluation in several major markets, naming Toronto, Calgary, Regina and Saskatoon as the most problematic locations. CMHC’s take on most of the country’s housing markets remained unchanged since its Q1 assessment, although the agency did escalate its assessment of problematic conditions in Vancouver from weak to moderate based on strong evidence of overvaluation.

www.mortgagebrokernews.ca

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UPFRONT

OPINION

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

Yes, it really is you When a deal falls apart, it’s time to admit where the real fault lies – because doing so can only improve your business, writes Rob Campbell

THERE ARE no more excuses. It’s you. I’m the first one to admit that I’ve had a history of pointing the finger at everyone else when deals fall apart, or the phone stops ringing. It’s the underwriter, it’s the insurer, it’s Ron Butler (love you, Ron). But the fact that your business isn’t growing is solely your own fault. Let’s look at the current state of our business. Yes, lender guidelines are tightening. Yes, rate shoppers are being fed vitamins and trained to eat their veggies. But what about the pros to being a broker in 2016? Property data is available through Purview. Our social has never been bigger. Our ability to index online gives our audience an easy channel to find us. The speed at which we can communicate with our lenders and Realtors is insane. Remember the old “push hard, there’s three copies” applications? Neither do I, thank the heavens. A decent internet speed and a USB mic can give you so much opportunity, you could be taking an application on your laptop from the Caribbean and no one would notice – unless the waves were too loud. Broker network? Pick one – there are a lot of great options out there. Top splits, underwriting hubs, state-of-the-art CRMs … and that’s just Broker Financial Group. The business is buzzing all around you, but you don’t want to go get it. You don’t

want to wake up and take this seriously. Your business is hurting because you’re not learning. And you’re not learning because your business is on standby. Now, again, I’m hugely guilty of all of this. Wake up late, hang out with a friend for a two-hour coffee. Pick up the kids at daycare, oh, and would you look at the

me to excel at my strengths and to outsource (or automate) my weaknesses. That’s so important to realize, but so little of us do. My first broker told me once, “You’ll make more money saying no than you will by saying yes.” It’s true. Networking is so hard to do, right? Wrong. Twenty years ago, you’d have to attend your local chamber of commerce function to get to know other business owners. You’d have to call another broker in another city to see if they know of a lender that will lend on that property that just can’t sell. Now? We have Twitter, Facebook groups, WIMI and tons of other channels. How about Scott Peckford’s podcast “I Love Mortgage Brokering”? Are you kidding me right now? The gold in that podcast is priceless – top-notch brokers talking about how and when they crushed it, what systems they use, what books they read. Go listen to it, especially episode 31 – that guy’s dreamy. If your business is not lifting off the ground, you’re just not focusing your energy

“The business is buzzing all around you, but you don’t want to go get it. You don’t want to wake up and take this seriously. Your business is hurting because you’re not learning. And you’re not learning because your business is on standby” time? It’s already a quarter after ‘I’m broke.’ If you haven’t read The 4-Hour Workweek by Tim Ferriss, go grab one off the shelf during that two-hour coffee with your friend. Somewhere in there you will find ‘The Dreamline.’ This exercise was a huge eye-opener for me. You list everything you want to be, have and do in the next six months. Then put a cost to those goals to figure out what your target daily income will have to be to reach those goals. That’s when I realized that a two-hour coffee with a friend had better bring me $750 in business; otherwise I’m going to cancel that coffee and reschedule for the weekend or evening. Tim’s book also taught

and efforts accordingly. I’ve only just started to focus, after five years, and I’m now seeing the fruits of my labour. The market will always change. Rates and regulations will always create difficulties. Rate shoppers are doing their pushups and drinking lots of electrolytes. But your biggest hurdle right now is you. Don’t wish it were easier – wish you were better.

Rob Campbell is a broker with Broker Financial Group in Guelph, Ontario.

www.mortgagebrokernews.ca

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20/05/2016 4:24:57 PM

PEOPLE

INDUSTRY ICON

A STROKE OF GOOD LUCK Happenstance got Mark Kerzner into the mortgage industry, but his love for it has kept him here – and he believes the industry’s best days are yet to come

MARK KERZNER’S path to the mortgage industry was anything but linear – and it all hinged on what the network head refers to as “a bit of false marketing.” “I was educated as a high school history and special-ed teacher, sold real estate, went back to school and got an MBA, and met Brendan Calder, who was with CIBC at the time,” Kerzner says. “He ran CIBC mortgages. When I was in my MBA, I applied for [a position] called ‘e-commerce strategic consultant’ at CIBC.” Kerzner and Calder hit it off – and it just so happened that the mortgage department was part of the e-commerce department Kerzner had applied for. There, Kerzner cut his teeth on the lender side of things, taking on various positions while working his way through the industry. “[At CIBC], I had a mentor, and I was thinking of making a change,” he recalls. “My mentor asked if I still wanted to stay in the industry. I said, ‘I love this industry, I respect this industry, and I see my future in this industry.’ Each one of the experiences I’ve had have built on previous experiences to reinforce my love and passion for the mortgage industry.” After getting a thorough introduction to the industry at CIBC, Kerzner was recruited by Paul Grewal to become the

vice president of sales and marketing at FirstLine Mortgages. “That was a career highlight for me,” he says. “FirstLine was entrepreneurial; I worked with great brokers and staff.” Kerzner’s entrepreneurial spirit eventually led him to Paradigm Quest, which was a startup at the time. “I worked with investors and then migrated to become EVP of operations,” he says. “For me, the opportunity to have new

“My heart was always on the front end of the business; I always respected the broker channel, and it was a great opportunity,” he says. “I was attracted to the people – Grant and Debbie Thomas are broker-focused, loyal, supportive, encouraging, smart. They’re just wonderful.”

The future of the industry In Kerzner’s mind, in any comparison between brokers and the big banks, brokers

“There is no doubt our industry has changed. Canadian consumers are better served using a broker than going into a bank branch. When there is change and evolution, Canadians need to seek out an expert” experiences, to work with Kathy Gregory and Boris Bozic, to be involved in the startup and be a part of such a great team was fantastic. I was there until 2008. In 2009, this opportunity at TMG came up.” Kerzner has headed the broker network ever since – and it seems like he plans on staying for a while.

will win every time. “One of the things I love about our industry is we’re still grassroots,” he says. “I love reading the stories, whether it’s from my brokerage or another brokerage, that we’re so active in our communities and giving back. We have such strong voices about our industry. That, to me, is a very special and

www.mortgagebrokernews.ca

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20/05/2016 4:25:40 PM

PROFILE Name: Mark Kerzner Title: President Company: TMG The Mortgage Group Years in the industry: 17 Biggest challenge: “Going through the global financial crisis. It was really an all hands on deck – I was at Paradigm at the time. It was a day of reckoning for our industry – just wondering what shape our industry would be in, how changing regulation would impact consumers and the channel. The outcome of that was seeing how Canada led the G7 in the biggest recession of our lifetime.”

www.mortgagebrokernews.ca

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20/05/2016 4:25:44 PM

PEOPLE

INDUSTRY ICON MARK KERZNER’S CAREER TIMELINE

1994 Works as a high school teacher, real estate agent and entrepreneur

1998 unique marker for the brokerage industry.” He argues that mortgage brokers, with their high level of professionalism and expertise, offer the best choice for Canadians seeking a mortgage – and the data supports that belief. “There is no doubt our industry has changed, that it is evolving and it is complex,” Kerzner says. “Canadian consumers are better served using a broker than going into a branch. When there is change and evolution, Canadians need to seek out an expert.

down the funnel as well.”

The people business As for how brokers should reach these potential clients, Kerzner has one idea. “Social media. The way I think about social media is that it’s changing the way people do research, interact and build trust,” he says. “It’s the way they communicate, and I see how the future could look. I look at how they’re communicating, and I look at how people in our industry communicate back.

“At the end of the day, the real success will be marrying the people aspect of the business with the technology aspect of the business. That’s where the success is going to come” “That’s already happening,” he continues. “CMHC has surveys that talk about firsttime homebuyers searching online more than ever … that shows you an example where technology expertise and a personal touch work really well together.” Those first-time buyers often choose mortgage brokers as their number-one choice when shopping for a mortgage, setting brokers up to net plenty of lifelong clients if they deliver great service. “Once those first-time homebuyers start to buy their second homes, mortgage broker share will go up because they will earn a share of that business,” Kerzner says. “We’re going to gain share in the other parts of the market where we lag. We’re doing quite well with [first-time homebuyers], and by virtue of that, we should be growing our share

Could you imagine 20 years ago telling your client you don’t email? If your clients are on social media, then you need to be as well.” But despite the ongoing advancement of technology, Kerzner stresses that nothing will replace the human touch brokers can provide. “I believe ours is still a people business; notwithstanding that, I feel technology is going to be a theme at the forefront of our business for years to come,” he says. “I think more flexible tech that will allow for more seamless processing and timely decision-making is going to continue to evolve, but at the end of the day, the real success will be marrying the people aspect of the business with the technology aspect of the business. That’s where the success is going to come.”

Goes back to school to complete an MBA

1999 Joins CIBC as director of corporate development, where he works on initiatives for Mortgage Centre Canada, Home Loans Canada and Sutton Mortgages

2001 Becomes VP of sales and marketing for FirstLine Mortgages, where he helps launch OPEN ARM, Matrix Mortgage and even 15+-year fixed mortgages

2006 Moves to Paradigm Quest (which he calls “an incredible entrepreneurial organization with inspirational leadership”), where he serves as EVP of corporate development then as EVP of operations

2009 Joins the front end of the brokerage business by becoming president of TMG The Mortgage Group; works to grow the network’s footprint across Canada

2014 Is elected to the board of directors of Mortgage Professionals Canada (formerly CAAMP), first as treasurer and then as vice-chair

www.mortgagebrokernews.ca

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20/05/2016 4:25:53 PM

THIS COULD BE YOU!

Find out why the #1 FRANCHISE IN CANADA has RE-SIGNED with DOMINION LENDING CENTRES! “When we say Powered by Dominion Lending Centres...We mean it!” – Mike Lloyd Owner of DLC Canadian Mortgage Experts DLC Canadian Mortgage Experts is made up of like-minded tenacious team players, highly respected by peers, with a fearless balance of work, family, and fun. Dominion Lending Centres empowers us to offer more to our Brokers and their clients through our huge volumes, giving us true “Top Tier” status with our lender partners. Top of the pile with the best Underwriters, access to everyone, and exclusive CME only products means you truly can offer your clients more. Add support like the Qube a la carte Underwriting services, cutting edge technology from Gmail for Business & Otto Mortgage Systems, through to internal/external coaching, Mastermind groups, CME Platinum Referral Program and you start to see why you can take your business to the next level with CME. We NET you more. To learn more about DLC’s Canadian Mortgage Experts visit whycme.ca | cmexp.com

JOIN THE COMPANY that is always first to power its members with the best!

1-888-806-8080 | www.dominionlending.ca

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20/05/2016 4:26:03 PM

BROUGHT TO YOU BY:

The Liberty Grand | Toronto May 13, 2016

CANADIANMORTGAGEAWARDS.COM

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2016-05-20 1:50:06 PM

BROUGHT TO YOU BY:

Post-party brought to you by B2B Bank

A GREAT YEAR for brokers just got even better for a select few, with the 10th annual Canadian Mortgage Awards, brought to you by Manulife Bank, honouring some of the industry’s best and brightest stars. That included Collin Bruce of DLC Mortgage Mentors, who took home the highly sought-after Bridgewater Bank Award for Mortgage Broker of the Year (25 Employees or More). It was the second year in a row Bruce won the award. “I’m surprised every year,” he said. “This is the biggest deal in the industry. It’s just crazy.” Gerald Soloway, Home Trust’s retiring CEO, was honoured with the Verico Financial Group Award for Lifetime Achievement in the Mortgage Industry. “Thank you very much,” Soloway told the hundreds in attendance. “I’m very proud and genuinely touched.” Soloway, a pioneer in the industry and a true innovator in the alternative mortgage segment, had stepped down from his post as CEO of

Home Trust just three days prior. He earned a rousing round of applause from his peers – and deservedly so. Overall, the awards cut a wide swath across the broker channel, with winners in 21 categories drawn from Vancouver to Toronto, and also smaller markets. It was produced by KMI Publishing and Events, the organization behind CMP magazine. Manulife Bank was the title sponsor. “We were excited for the opportunity to support this important industry event, recognize the accomplishments of market leaders and new entrants, and demonstrate our commitment to the mortgage broker community,” Jason Daly, vice president of product, marketing & business development, said. And Manulife Bank pulled out all the stops this year. That included a state-of-the-art 3-D hologram show, which welcomed attendees as soon as they entered the Liberty Grand.

As always, the entertainment was topnotch; it included a live band, as well as a talented troupe of dancers. We shook things up this year by inviting Alistair Forbes to host as the master of ceremonies. The Second City alumni impressed the audience with his quick wit and charm.

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 12:55:52 PM

The XCEED Mortgage Corporation Award for

BROUGHT TO YOU BY:

Best Marketing Effort of the Year “I want to thank the judges, who are brilliant, as well as everyone at VERICO who has been so supportive and awesome” SHANE BRUCE VERICO ACME Mortgage Professionals

AS EVERY industry player knows, marketing is one of the most important aspects of building a success business; it helps companies not only cultivate a brand, but also share it with potential clients. And when it’s done well, it really helps set the work you do apart. In most cases, it’s large companies that, due to deep pockets, have the advantage in the marketing department. This was noted by winner Shane Bruce of VERICO ACME

Mortgage Professionals, who mentioned how proud he was to beat out his larger counterparts, including rival network Dominion Lending Centres. “Not to brag, but I won the Canadian Association of Mortgage Professionals award [for best marketing], and this [CMA award] was against much tougher competition,” he said. Bruce has now been recognized twice for his marketing efforts; with this latest CMA win, his competition will definitely take note.

AWARD SPONSOR MCAN Mortgage Corporation is a public company listed on the TSX under the symbol MKP since 1991. MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, focused on single-family residential and residential construction loans, as well as other types of loans, real estate and securitization of investments. MCAN is the only publicly listed Mortgage Investment Corporation in Canada regulated by the Office of the Superindendent of Financial Institutions. Established in 1997, XCEED Mortgage Corporation offers unique and competitive residential mortgage products through an extensive network of mortgage brokers. XCEED is a wholly owned subsidiary of MCAN Mortgage Corporation. For more information, visit xceedmortgage.com.

“These awards not only recognize the winners, but also acknowledge the hard work of all the members of the industry. Job well done” HASSAN SHAIKH XCEED Mortgage Corporation

FINALISTS Centum Financial Group Dominion Lending Centres FCT Invis/Mortgage Intelligence Morcan Direct VERICO ACME Mortgage Professionals VERICO XEVA Mortgage

SOLUTIONS. ADVICE. MOVE.

SMART

RMG Mortgages is a division of MCAP Financial Corporation | Ontario Mortgage Brokerage #10600 | Ontario Mortgage Administrator #11790

BROUGHT TO YOU BY:

22-57_Commemorative Guide 2016-SUBBED.indd 25

Visit www.RMGmortgages.ca or contact one of our Business Development Managers to learn how RMG Mortgages can help you create homeownership opportunities.

2016-05-20 1:00:04 PM

The WECANLEND.COM Award for

Employer of Choice

BROUGHT TO YOU BY:

“It’s awesome to have won; I can’t believe it. All of our staff and everybody back in Calgary will be very excited about this” TODD POBERZNICK Bridgewater Bank

THE AWARD for Employer of Choice may be the ultimate feather in the cap for any organization. At the end of the day, all mortgage service providers – from brokers to lenders – pride themselves on the service they provide for clients. But they also desire to create working environments that will attract the very best and brightest in the industry, and the WeCanLend.com Award for Employer of Choice is one way of recognizing that. For Bridgewater Bank, creating a familylike atmosphere has helped to attract the industry’s best talent. “We’re transparent with all of our people; we let them know what’s going on day to day;

FINALISTS Bridgewater Bank Centum Financial Group Home Trust Company MCAP Service Corporation Mortgage Architects Sherwood Mortgage Group Street Capital Financial Corporation

we’re all family,” said Todd Poberznick, head of production at Bridgewater Bank. “Tonight is going great.”

Great indeed for a company that was on every broker’s – and underwriter’s – radar even before taking home the award.

“We Can Lend would like to congratulate Bridgewater on receiving the Employer of Choice award. Treat employees like they make a difference, and they will” NIMA AHMADPOUR, We Can Lend

AWARD SPONSOR WCL Capital Group is one of Canada’s leading private lending companies, providing a wide range of private mortgages. We specialize in residential lending and have quickly become the alternative source for consumers whose specific needs are not met by larger financial institutions and or trust companies. We have developed a respected reputation based on results and professionalism among the Canadian mortgage agent/broker network and would like to take this opportunity and thank all of our business partners for the continuous support. Service ... Professionalism ... Results – We Can Lend! For more information, visit wecanlend.com.

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2016-05-20 1:00:21 PM

CMA Adv

BROUGHT TO YOU BY:

Thanks! We feel so lucky to share our days with such a spirited bunch. Our extended family comes together for just about everything: birthdays, anniversaries, holidays, tough times, weddings and babies (hooray for potlucks)! Thanks to our parent, Alberta Motor Association, for the tools to keep our team happy and healthy both inside and outside the office. To our broker partners, our mission remains to do all we can to help you serve your customers. We believe happy employees make successful brokers and we hope you agree.

BwBbrokerinfo.ca 22-57_Commemorative Guide 2016-SUBBED.indd 27 CMA Advertisement.indd 1

2016-05-20 1:00:29 PM 5/17/2016 1:30:31 PM

The Equitable Bank Award for

BROUGHT TO YOU BY:

Diversifier of the Year

Pictured: Rob Campbell, who accepted the award on McCallum’s behalf

“Thanks to the sponsors, and thank you to CMP magazine as well” GORD MCCALLUM First Foundation Residential Mortgages

THIS IS the second year in a row First Foundation Residential Mortgages took home the hardware for Diversifier of the Year. Adding to a stable of business offerings, First Foundation added two new lines this year that helped set it apart from the competition. In January, the company made headlines with the launch of its layoff insurance offering in hard-hit Alberta. “We’ve been getting a ton of attention, and we’re barely keeping up with the lead traffic,” Gord McCallum, president of First Foundation, said at the time. McCallum said brokers outside his organization had contacted him with the hopes of offering it to their own clients. That alone could have been enough to have garnered him the award, but McCallum wasn’t

done there. In March, First Foundation launched its own banking products. “This is the fourth piece of the puzzle,” McCallum said in March. “We now offer full-service banking – everything you can get at a branch, you can get through our location.”

FINALISTS Blue Pearl Mortgage Group DLC Expert Financial DLC Home Capital Solutions First Foundation Residential Mortgages Invis/Mortgage Intelligence VERICO Northeast Mortgages VERICO Safebridge Financial Group

AWARD SPONSOR Equitable Bank is Canada’s ninth largest independent Schedule I bank, offering a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $17 billion in assets under management. Most recently, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. For more information, visit equitablebank.ca.

“Equitable Bank is pleased to have sponsored the Diversifier of the Year Award, which recognizes entrepreneurs who grow their business through new offerings. Such diversification adds strength and resiliency. Congratulations to Gord McCallum” DARREN LORIMER Equitable Bank

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2016-05-20 1:00:59 PM

The Safebridge Financial Group Award for

BROUGHT TO YOU BY:

Best Customer Service from an Individual Office “Our job is to provide great service, choice, alternative options and great pricing to the consumer, and I think we understand how important that relationship is. The entire DLC network strives to deliver that” GARY MAURIS Dominion Lending Centres

AS EVERY broker knows, you’re only as good as your last deal, and Geoff Lee of Dominion Lending Centres GLM Mortgage Group ensures each client is given the best possible service. “He’s really deserving, a really cool guy,” Gary Mauris, president of Dominion Lending Centres, said on behalf of Lee. “He’s incredibly focused on customer service and, most importantly, he’s just a down-to-earth, genuine, authentic guy that we admire.” Indeed. Lee recently told CMP sister site MortgageBrokerNews.ca that the key to ensuring a client is satisfied with his or her mortgage is simple. It’s all about servicing the client first and ensuring they get the best mortgage for them – at the right time.

“Participating in the CMAs as a sponsor for the Best Customer Service Award is an honour for us at Safebridge. We are proud to celebrate the incredible accomplishments of all the nominees in this category, and to simply say thank you for the massive impact they make in the lives of Canadians across our country!” CHRIS KARRAM, Safebridge Financial

FINALISTS

AWARD SPONSOR

Champion Mortgage

Real Mortgage Associates JC Mortgages

At Safebridge, our vision is to drive transformational change in the Canadian mortgage industry by redefining the traditional customer experience through our proprietary Mortgage Centered Financial Planning™ approach. As the originators of Mortgage Centered Financial Planning™, we take pride in providing our clients with a truly coordinated approach that encompasses the three largest financial decisions most Canadians will ever make. We believe that any financial decision specific to one’s mortgage, insurance or investment portfolio should be made in coordination with the other.

VERICO XEVA Mortgage

For more information, visit safebridgefinancial.com.

DLC GLM Mortgage Group Loewen Group Mortgages Mortgage Intelligence Oshawa Mortgage Teacher

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 1:01:29 PM

The Canadian Mortgage App Award for

Best Use of Mobile Technology

BROUGHT TO YOU BY:

“Thank you very much for this award. We really appreciate it. We are proud to help Canadians make more informed decisions” SAM CARNOVALE CMHC

CMHC IS, among other things, arguably the leading provider of housing market data in the country. One of its main goals is providing relevant and accurate data on homebuying trends, which can then be used by the government to make more informed decisions about governing housing in Canada. Most recently, CMHC has undertaken the task of providing information on foreign ownership trends across the country. CMHC data is also widely accessible – online and through mobile technology – to regular Canadians, who can use it to choose where, when and how to buy. “It feels fantastic,” said Sam Carnovale, director of national accounts at CMHC. “We’re pleased to be able to provide tools for brokers and Canadians to help them make more informed homebuying decisions.”

FINALISTS CMHC Kanetix, RateSupermarket.ca Loewen Group Mortgages Mortgage Alliance Mortgage Intelligence, LA Mortgage Team

“We have been able to deliver mobile technology that is truly beneficial to brokers and their clients and, by creating the award, we are trying to encourage further growth in the industry. As more professionals come to the market, it means more competition and better technology, which will deliver better solutions for brokers and their clients” BEN SALAMI, Canadian Mortgage App

AWARD SPONSOR Canadian Mortgage App is the number-one-ranked mortgage mobile app in Canada, with more than 5 million screen-views to date. The Canadian Mortgage App saves consumers money and time by offering an accurate, comprehensive and easy-to- use mobile app to help estimate realistic monthly homeownership costs. Bendigi Technologies is the proud developer of the Canadian Mortgage App and believes in empowering consumers and professionals with the best mobile solutions. Bendigi specializes in building premium branded apps for elite mortgage brokers and large enterprises in the mortgage, real estate and insurance industries. For more information, visit canadianmortgageapp.com.

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2016-05-20 1:02:10 PM

The Mortgage Teacher Award for

Best Community Service Effort of the Year

BROUGHT TO YOU BY:

“We’re all very fortunate to live the lives we live and to do the things we do. Our capacity to give back is greater than most” PAUL THERIEN Centum Financial Group

A PERENNIAL finalist in this category, Paul Therien, vice president of operations for Centum, finally took home the award for his service to his community. Therien founded the Q Hall of Fame, a

national resource dedicated to honouring the history of the LGBT community in Canada, in 2008, and he remains the chairman. The Hall of Fame honours those who have furthered human rights for the community.

“It was our community and our neighbors that helped grow Mortgage Teacher into the brokerage it is today. This is why we felt supporting the award for Best Community Service was such a good fit” MICHAEL MULLIS, Mortgage Teacher

AWARD SPONSOR At Mortgage Teacher LTD., we know that finding the right mortgage can have a major impact on your lifestyle and help you become mortgage-free sooner. Each one of our brokers and agents will guide you along and help you find the best mortgage to suit your circumstances. We educate you with an exclusive library of resources to help you make smart mortgage choices. We then shop for you at major banks, credit unions, trust companies and other lenders to negotiate the best rates and terms, saving you time and money. For more information, visit mortgageteacher.com.

Therien is also a member of the board of directors for the Millenia Scope Entertainment Foundation, an American charity dedicated to the LGBT film and television industries. It endeavours to further the representation of the community through arts and film. Brokers are a naturally charitable bunch, with many making regular contributions to their respective communities. “We’re all very fortunate to live the lives we live and to do the things we do,” Therien said. “Our capacity to give back is greater than most.”

FINALISTS Michael Cameron Axiom Mortgage Partners Paul Therien Centum Financial Group Dominion Lending Centres - Bikes for Kids Cheryl Brown Invis/Mortgage Intelligence MCAP Service Corporation Todd Fralic & Paul Bojakl Quantus Mortgage Solutions VERICO Helping Hands

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 1:02:16 PM

The Home Trust Company Award for

BROUGHT TO YOU BY:

Best Alternative Lending Mortgage Broker of the Year “I wasn’t expecting it. I just think everybody deserves homeownership” ANDREW ROPER DLC Leading Edge

WHEN ACCEPTING his award, Andrew Roper of Dominion Lending Centres Leading Edge was virtually speechless. “I wasn’t expecting it,” Roper said after accepting his award. “I just think everybody deserves homeownership.” When it comes to awards, few capture

what it means to be a broker as well as the Alternative Broker of the Year. Millions of clients across the country have a dream of homeownership, but many lack the qualifications for a conventional mortgage. And that’s when mortgage brokers often thrive – working with non-bank lenders to arrange mortgages

“This award is particularly meaningful for Home Trust, and we congratulate all our broker partners and their efforts to help deserving Canadians own a home”

at affordable rates. And of course, the job doesn’t end there; brokers like Roper will often continue to work with alternative clients to help them improve their financial conditions so that they can one day be transferred to a conventional lender, which gets them an even better rate.

FINALISTS Ameera Ameerullah Canada Mortgage & Financial Group Andrew Roper DLC Edge Financial Sandra Price East Coast Mortgage Brokers Dean Darrigan Invis/Mortgage Intelligence

AWARD SPONSOR Home Trust Company is one of Canada’s leading trust companies, providing Canadians with wide range of financial products and service alternatives dedicated to helping clients realize their homeownership dreams. Our product offering includes residential and commercial mortgages, consumer lending and credit card services. We are the only lender that offers mortgages for all consumer types, from fully insured to alternative lending solutions, and for all and buying needs for residential, condo, rental, recreational and commercial. For more information, visit hometrust.ca.

Shawn Allen Matrix Mortgage Global Alisha Almas Mortgage Alliance - Almas Associates Chad & Patty Southwell Mortgage Intelligence Graeme Moss VERICO Fair Mortgage Solutions Leanne Myles VERICO Premiere Mortgage Centre

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2016-05-20 1:02:57 PM

The Vector Financial Services Limited Award for

BROUGHT TO YOU BY:

Best Commercial Mortgage Broker of the Year “I’m honoured to have won the award. It’s almost a little shocking. I appreciate it. A lot of hard work went into this, so I’m really proud” BRENNAN WOOD Foundry Mortgage Capital

“The importance of the award directly reflects on the role commercial brokers play in non-bank lending. The mark of a good commercial broker is his/her ability to maintain the loan’s integrity while ensuring suitability for both borrowers and investors” MICKEY BARATZ Vector Financial Services

FEW THINGS require the level of work involved in funding a commercial mortgage deal. It’s not unheard of for brokers to spend months or even years working on deals that may or not make it to funding. It’s impossible to originate a high volume of deals each year, due to the paperwork involved, and that’s why each and every deal is incredibly important to every commercial broker. It’s a small fraternity of mortgage professionals, and this year Brennan Wood, a broker with Foundry Mortgage Capital, joined an elite group of individuals. “I’m honoured to have won the award. It’s almost a little shocking. I appreciate it. A lot of hard work went into this, so I’m really proud,” Wood said. “For me, it’s a group award, I’ve got

a great team behind me; guys that work really hard. I don’t know what to say; it’s great.”

FINALISTS Vic Cotton Avenue Financial Michael Chiu Capital West Mortgage David Beckingham Dominion Lending Centres Commercial Capital Brennan Wood Foundry Mortgage Capital Andrew C. Bennett Nexus Investment Corporation Omid Jalili OMJ Mortgage Capital

AWARD SPONSOR Vector Financial Services Limited is a private (non-bank) mortgage lender in the business of originating and administering mortgage loans. We have successfully funded residential, commercial and construction mortgage loans in Ontario since 1969. The firm began with the founding shareholders investing their own capital in commercial mortgages and grew as outside investors asked to invest alongside them. For more information, visit vectorfinancialservices.com.

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 1:03:38 PM

The VERICO Financial Group Inc. Award for

Lifetime Achievement in the Mortgage Industry

BROUGHT TO YOU BY:

“I am aware that this award is one of the most coveted awards at the dinner, and I’m deeply honoured to receive it. I’m very proud and genuinely touched” GERALD SOLOWAY Home Capital

THIS AWARD was likely the easiest to call. Gerald Soloway, Home Capital’s outgoing CEO, has helped his company become one of the leading players in the alternative lending space. Soloway served as the company’s CEO from January 1, 1987 to May 11, 2016. Prior to making his mark on the mortgage industry, Soloway practiced law in Toronto, where he specialized in real estate, mortgage and commercial law. He studied at Osgoode Hall,

AWARD SPONSOR

VERICO Financial Group Inc. is a top mortgage broker network in Canada. Thirty-four per cent of Canadians who bought their houses in 2015 used mortgage brokers instead of major banks, and it’s easy to see why more and more Canadians are getting their mortgages through us. VERICO has 2,300 expert mortgage advisors from coast to coast who help more than 45,000 Canadians buy and finance their homes each year. For more information, visit verico.ca.

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2016-05-20 1:04:25 PM

BROUGHT TO YOU BY:

one of the country’s premier law schools, and was called to the bar in 1963. He also has a degree in economics. The award was given to Soloway by Colin Dreyer, president and CEO of VERICO Financial Group, who had nothing but kind things to say about Soloway. “Thank you very much. Thank you Colin for the fine introduction,” Soloway said while accepting his award. “Home Trust has grown and prospered, and I’m pleased to say that over 98% of our mortgages come from mortgage brokers. Home has been at the forefront of providing mortgages for those who don’t meet the criteria of the big banks.” Soloway received a rousing ovation from the hundreds in attendance at the awards – and rightfully so.

“VERICO is pleased and honoured to have presented the Lifetime Achievement Award to Gerald Soloway. Recognizing the contributions of industry leaders such as Mr. Soloway allows us to take pause, reflect upon and celebrate the achievements of individuals and also the many milestones of our growing industry” COLIN DREYER, VERICO Financial Group

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The Street Capital Financial Corporation Award for

Mortgage Broker of the Year

BROUGHT TO YOU BY:

Fewer Than 25 Employees

“It’s amazing to have won; I was very surprised. With the people that I was running against, I honestly didn’t think I was going to win. I’m so grateful” LUISA HOUGH VERICO XEVA Mortgage

LUISA HOUGH, a broker with VERICO XEVA Mortgage, was gracious in victory at the Canadian Mortgage Awards – and for good reason. Her fellow competition was a venerable bunch, which included several Top 75 brokers, a broker whose fledgling brokerage has experienced record growth in a short timeframe, and at least two published authors – not to mention a fellow colleague and good friend.

AWARD SPONSOR Street Capital Financial is Canada’s third-largest non-bank lender, providing residential mortgages through select independent mortgage brokers. Street Capital is owned by Counsel Corporation, a financial services company listed on the Toronto Stock Exchange (TSX: CXS). We are an approved lender with the Canadian Mortgage and Housing Corporation (CMHC), Canada Guaranty Mortgage Insurance Company and Genworth Financial Canada. For more information, visit streetcapital.ca.

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2016-05-20 1:06:16 PM

BROUGHT TO YOU BY:

FINALISTS Enza Venuto Centum Financial Group Dustan Woodhouse DLC Canadian Mortgage Experts Tracy Valko Dominion Lending Centres Forest City Funding Christine Xu Mortgage Architects Rich Ventura Mortgage InGenuity, Mortage Architects Sarah Davison Mortgage Intelligence Janna Dawdy Real Mortgage Associates JC Mortgages Len Lane DLC Brokers For Life (formerly VERICO Brokers For Life)

The award for Broker of the Year (Fewer Than 25 Employees) acknowledges those in the industry who truly punch above their weight; they may be smaller than some of their counterparts, but they strive to achieve similar volume levels and, indeed, the same level of service. This year, Hough rose to the top of the bunch. Winning the award made her one happy camper. “I put winning down to the customer service I provide and my clients – they make it easy,” Hough said. “I’m having a wonderful night; this is awesome. This just made my night.”

James Laird VERICO CanWise Financial Luisa Hough VERICO XEVA Mortgage Sabeena Bubber VERICO XEVA Mortgage

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2016-05-20 1:07:32 PM

CMA 2016

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2016-05-20 1:08:52 PM

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 1:10:50 PM

The Centum Financial Group Inc. Award for

Best Industry Service Provider

BROUGHT TO YOU BY:

“Isn’t this funny? What started as a social experiment for women in this industry to communicate … [became] about getting sh*t done” HALI NOBLE Fisgard Capital

IT WAS likely a first for the Canadian Mortgage Awards – an acceptance speech that included an expletive. The audience loved it, and for good reason: The women behind the WIMI Women in the Mortgage Industry Facebook group established a community for women by women – a first for an industry that had traditionally been dominated by men. That, however, is changing. Next month, CMP will feature the annual Women of Influence list, and there will be many among them who call WIMI their digital home. Not to mention, there’s a growing number of veteran female mortgage brokers who find themselves among the CMP Top 75 Brokers each year. It’s a simple premise that has had a wide-reaching influence. As the WIMI Facebook describes it, the community “is an online forum

FINALISTS D+H Equifax Canada GoMax Solutions Mortgage Marketing Coach Teranet-Purview for Mortgage Brokers WIMI Women in the Mortgage Industry

showcasing mentorship, leadership, mortgage industry education and discussions.” “It really is a Facebook group that talks about

getting deals done, getting through the day,” Hali Noble said when accepting the award. And, as mentioned, getting sh*t done.

“Sponsoring this award for the last five years allows CENTUM to recognize the valuable contributions made to this industry by service providers. Partnerships, like the ones with service providers, and lenders, are key to our success and longevity.” PAUL THERIEN Centum Financial Group

AWARD SPONSOR CENTUM was founded in 2002 with the first offices opening in Regina, Saskatchewan; Saint John, New Brunswick; Olds, Alberta; and Vancouver. With its launch, CENTUM was soon recognized as the most innovative organization in Canada, having introduced the concepts of volume bonuses and group buying power to the industry. Having helped tens of thousands of Canadians obtain billions of dollars in mortgage financing, CENTUM continues to lead the industry with some of the most innovative technology, systems, training and partnerships exclusive to the CENTUM franchise network. For more information, visit centum.ca.

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2016-05-20 1:12:39 PM

The Canada Mortgage & Financial Group Award for

Best Newcomer – Individual Agent/ Broker

BROUGHT TO YOU BY:

“It feels good to have won” DAVE GIRARD Mortgage Intelligence

AS ANY industry veteran will tell you, one of the hardest stages in a broker’s career is the beginning. Many leave lucrative and, indeed, safe corporate jobs that offer a regular salary. It takes a certain amount of bravery to make a go of it as a mortgage broker, with its ‘eat what you kill’ business model. But each year, people flock to the growing industry, intent on helping Canadians achieve the homeownership dream and to achieve their own dream of building a successful business. This year’s top newcomer was Dave Girard. What makes his achievement even more impressive is the fact that he operates in Quebec, where it’s well known that competition is stiffer due to more relaxed rules that allow

“Believe in your ability and never be discouraged or intimated by others who have years of experience, as we have all started from the bottom” AMEERA AMEERULLAH Canada Mortgage & Financial Group

AWARD SPONSOR Canada Mortgage & Financial Group is a mortgage corporation specializing in both institutional and alternative financing throughout Canada and the US. We also offer a platform for international investors to invest in Canadian real estate. CMFG has been recognized as a credible brokerage and lender with no defaults in our portfolio. We have set a unique benchmark in the industry by maintaining a closing ratio of 100% and establishing syndicated partnerships with other leading lenders. CMFG has also created a down payment program that is not available elsewhere in the industry. For more information, visit cmfg.ca.

the big banks to offer referral bonuses to Realtors. The industry – and, of course, us at CMP – will continue to follow Girard’s career as he develops more experience and becomes even more influential.

FINALISTS Kris Grasty DLC Canadian Mortgage Experts Ana Costa DLC The Mortgage Source Eitan Pinsky DLC Origin Mortgages Araz Khalili Matrix Mortgage Global Dave Girard Mortgage Intelligence Ryan Dennahower Mortgage Intelligence Bespoke Mortgage Group Matthew Carnovale Sherwood Mortgage Group Cassia Miller VERICO CanWise Financial Andrew Persaud VERICO Safebridge Financial Group

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 1:14:38 PM

The Dominion Lending Centres Award for

Best Newcomer - Lender Underwriter

BROUGHT TO YOU BY:

“A special thanks to the brokers I’ve worked with over the years. I put so much into making my brokers look as good as possible to their clients” MARLO REGHENAS Street Capital Financial Corporation

THE BROKER /underwriter dynamic is one of the most symbiotic relationships in the business world; both parties rely on each other for their own individual success. As any broker will tell you, a lender underwriter who goes above and beyond to get the difficult deals done is worth his or her weight in gold. And it’s obvious Marlo Reghenas, an underwriter with Street Capital Financial Corporation, does just that. “I just want to say thank you to Street Capital for all their support,” Reghenas said, “and the other underwriters I’ve worked with over the years.” She also had some kind words for her broker partners. “To be recognized by them feels so great,” Reghenas said.

It can be difficult to build a reputation in the industry – but many brokers are now very familiar with Reghenas, if they weren’t before.

FINALISTS Sarah Roscoe Home Trust Company Uliana Pertuzza Home Trust Company Rajbeer Bhullar MCAP Service Corporation Farrah Ahmadi Street Capital Financial Corporation Marlo Reghenas Street Capital Financial Corporation

AWARD SPONSOR Dominion Lending Centres is Canada’s national mortgage and leasing company with more than 2,200 members offering free expert advice across Canada – taking the hassles out of the mortgage process and simplifying your life. For more information, visit dominionlending.ca.

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2016-05-20 1:16:36 PM

Mortgages Made Easy

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2016-05-20 1:19:07 PM

The Broker Financial Group Inc. Award for

BROUGHT TO YOU BY:

Best Lender Underwriter of the Year “It feels amazing to have won, to think that I was nominated by my peers, my brokers, people I deal with every day and people I’ve dealt with for the past six to 10 years” ANGELA FROESE (MOLYNEAUX) Equitable Bank

UNDERWRITERS often hold the key to helping unlock the homeownership dream. It’s a lot of responsibility, and for her part, Angela Froese, an underwriter with Equitable

Bank, has a simple philosophy that helps her succeed. “I treat every person I deal with like my best friend – customer service is number one,”

“We acknowledge the importance of the underwriter’s role in the mortgage industry. Often, they are the heroes who go unnoticed, and they deserve the recognition for the hard work they do for our clients” JASON SINGH, Broker Financial Group Inc.

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Froese said. “Everybody is important, from the little guy to the big guy.” It’s an outlook that resonates with brokers, who treat every file and every client as if they were their first. It can be truly amazing when both underwriters and brokers share the same way of looking at files. And it’s obvious that Froese’s broker partners appreciate her penchant for going the extra mile to help their clients get the best possible mortgage.

FINALISTS Angela Froese (Molyneaux) Equitable Bank Helen Brito Home Trust Company

Broker Financial Group Incorporated is managed by a group of Canada’s top-volume-producing agents and lending industry, legal, and accounting professionals with a combined 90+ years of industry experience. By providing ancillary products, Broker Financial Group members can capitalize on greater market share through cross-selling and providing knowledgeable advice. The network is rich with established mortgage professionals and brokerages who are highly motivated to cultivate, sustain and grow their relationships. The opportunity to build together, grow together and thrive together is what Broker Financial Group Incorporated is all about.

Helga Peller MCAP Service Corporation

For more information, visit brokerfinancial.ca.

Teresa Wang Street Capital Financial Corporation

Rob Orban MCAP Service Corporation Thomas Squires Optimum Mortgages Cory Thompson Pillar Financial

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2016-05-20 1:22:04 PM

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2016-04-13 3:52 2016-05-20 1:24:13 PMPM

The Sherwood Mortgage Group Award For

Best Newcomer - Lender BDM

BROUGHT TO YOU BY:

“I’m honoured, and I think I go back to the basics – it’s all about service and understanding what the client needs” SUZY FERNANDES-ARRUDA Equity Financial Trust

FOR BROKERS, there is perhaps nothing better than a lender BDM who understands that providing exceptional service to clients is the best way to develop relationships. According to Suzy Fernandes-Arruda, that’s what it’s all about. This newcomer to the industry has developed quite a name for herself. She has more than 20 years of experience in financial services but only became lender business development manager when she joined Equity Financial Trust in 2014. She had some kind words for her broker partners. “Thank you so much,” FernandesArruda said. “Thank you everyone for your support.”

FINALISTS John Kerr B2B Bank Jennifer Anne Burrage Equitable Bank Suzy Fernandes-Arruda Equity Financial Trust Nicole Thomson Home Trust Company Reaza Ali Home Trust Company Linda Elkjar Street Capital Financial Corporation Ajay Kaith The Mortgage Company of Canada

AWARD SPONSOR Sherwood Mortgage Group is a seasoned team of licensed mortgage professionals and part of the Mortgage Architects organization, one of the largest and most well-respected brokerages in Canada. Our boutique style brokerage opened its first independently owned office in Toronto in December 2008 and has continued rapidly expanding into other parts of Ontario and Canada, including offices in Sarnia and Saskatchewan. Sherwood’s company culture is TEAM DRIVEN - committed to our agents’ success, reputation and growth. For more information, visit sherwoodmortgagegroup.com.

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2016-05-20 1:32:27 PM

BROUGHT TO YOU BY:

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2016-05-20 1:32:34 PM

The Invis/Mortgage Intelligence Award for

BROUGHT TO YOU BY:

Best Lender BDM of the Year

“If you know me, you know that I love what I do. However, I could not do this on my own. I work for a fabulous organization” ROSE BUTERA Home Trust Company

BEING A LENDER BDM can be a stressful job – when things go wrong with a file, or brokers are unsatisfied with how a lender treats a client, it’s often the BDMs who have to field the calls. Those who are able to maintain and strengthen their relationships with brokers are the ones who succeed – and it’s obvious that Rose Butera is that type of BDM. To be recognized by your broker partners as one of the best speaks to Butera’s dedication not only to her company and her clients, but to her brokers as well. Butera had some words of praise for her company, Home Trust. “[It’s] an organization with people who are driven, committed and work as a team,” she said. “Thanks to all of my colleagues, and thanks to my kids. And thanks to the CMAs for making this special night possible.”

FINALISTS Ut Yue Bridgewater Bank Rose Butera Home Trust Company Tommy Vrazalis MCAN-XCEED Mortgage Corporation Gail Temple National Bank Kamran Daryushnejad National Bank Brian Mason Street Capital Financial Corporation Ian Tenggardjaja Street Capital Financial Corporation Richard Earles We Can Lend

AWARD SPONSOR National brokerage Invis/Mortgage Intelligence is the professional home for brokers adhering to the highest industry standards. Our exceptional suite of bold resources makes it easier to run your business, help you earn long-term annuity income, and give you the marketing and customer relationship management programs you need to succeed. Our brokers are not locked in; we have no long term contracts. You belong. Be Bold!

“Invis/Mortgage Intelligence is proud to present the Best Lender BDM Award. We value our lender partnerships and are privileged to support the BDMs that engage with our brokers on a daily basis” CAM STRONG Invis/Mortgage Intelligence

For more information, visit invis.ca.

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2016-05-20 1:33:12 PM

BROUGHT TO YOU BY:

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Visit go.hometrust.ca/spire or talk to your BDM

2016-05-20 1:33:28 PM

The Manulife Bank Award for

Best Newcomer - Mortgage Broker Firm

BROUGHT TO YOU BY:

“Bryan joined us around three years ago, and he had a unique business strategy in dealing with financial planners and putting together a lot of the tools to help them with their customers” GARY SIEGLE Invis/Mortgage Intelligence

WINNING A Canadian Mortgage Award is a highlight in the career of every winner. So the fact that Bryan Baker of Invis SmartCap Mortgage Professionals – the winner of the best newcomer, mortgage broker firm – missed the ceremony to honour a promise to take his daughter camping speaks volumes about his character. Baker joined Invis in 2012. At the time, he said, “I was back and forth with several brokerages and did lots of research and due diligence on Invis before making this move. I was looking for a long-term relationship with a brokerage where the leadership was willing to make our vision happen, and I’ve found that at Invis. The people behind the company and the relationships we will have with them made

FINALISTS Blue Pearl Mortgage Group DLC Coultish & Co. Invis SmartCap Mortgage Professionals

all the difference.” As the winner of the coveted award, it seems he made the right choice. Invis/Mortgage Intelligence VP Gary Siegle

picked up the award on behalf of Baker. “He’s worked really hard at building that idea and building a team around that,” Siegle said. “It’s been well recognized tonight.”

“This event was a great stage on which to acknowledge and celebrate the contributions of mortgage industry lenders, brokers and service providers that play such a valuable role for Canadian homeowners” JEFF SPENCER VP Retail Sales, Manulife Bank

AWARD SPONSOR Established in 1993, Manulife Bank of Canada (Manulife Bank) was the first federally regulated bank opened by an insurance company in Canada. It is a Schedule I federally chartered bank and a wholly owned subsidiary of Manulife Financial, one of Canada’s leading financial institutions.

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Today Manulife Bank serves clients across Canada in all provinces and territories. With a high-quality loan portfolio, the majority of loans being in residential mortgages, Manulife Bank is a profitable and well-capitalized organization.

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For more information, visit manulifebank.ca.

4Front Mortgages/Mortgage Alliance

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2016-05-20 1:34:07 PM

BROUGHT TO YOU BY:

Invis Mortgage Intelligence

WINS BOTH NEWCOMER AWARDS at the 2016 Canadian Mortgage Awards

Bryan Baker

Dave Girard

INVIS, SMARTCAP

MORTGAGE INTELLIGENCE

BEST NEWCOMER BROKERAGE

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! s d n e g e L g n Creati Join us...you could be next!

And congratulations to WIMI and co-founder Suzanne Bebbington for winning Best Industry Service Provider.

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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2016-05-20 1:35:14 PM

The Bridgewater Bank Award for

Mortgage Broker of the Year

BROUGHT TO YOU BY:

25 Employees or More

“I’m surprised; every year I’m surprised. This is the biggest deal in the industry. It’s crazy” COLLIN BRUCE DLC Mortgage Mentors

WHAT MORE can be said about Collin Bruce? The Alberta-based broker has dominated CMP’s Top 75 Brokers list for the past three years, funding a record-breaking $350,675,973 in mortgages last year. He funded a total of 1,093 loans, so it’s any wonder that Bruce has time for anything other than brokering. And he’s such a humble guy – when he says he’s surprised he won, you can see that he means it. This, despite the fact that each year he seems to one-up himself. This was the second year in a row Bruce won Broker of the Year, and the entire industry will be waiting with bated breath to see what he can do next year. Despite the fact that he is on the top of the mortgage mountain, Bruce took the opportunity to share the limelight with the rest of his peers at Dominion Lending Centres. “Well, thank you very much,” he said when accepting his award. “It’s you,” he said to his team at DLC.

“Since 1997, mortgage brokers have been the lifeblood of Bridgewater Bank. Their hard work and unwavering dedication means we have a deep-rooted appreciation for the critical role they play. We’re proud to be able to honour their contribution to an ever-changing marketplace through the Bridgewater Bank Award for Mortgage Broker of the Year (25 Employees or More)” TODD POBERZNICK Bridgewater Bank

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2016-05-20 1:36:08 PM

BROUGHT TO YOU BY:

FINALISTS

AWARD SPONSOR Helping broker partners meet their business goals has been Bridgewater Bank’s focus since 1997. The bank began as a Calgarybased residential mortgage lender, providing a single product in just two provinces. Today, Bridgewater Bank is a Canadian Schedule I chartered bank offering competitive residential mortgages and deposit products through a select network of brokers. Specializing in alternative lending and construction mortgage solutions, GICs, and highinterest savings accounts, the bank’s portfolio has grown to more than $2.8 billion, representing over 33,000 accounts. Bridgewater Bank is a wholly owned subsidiary of the Alberta Motor Association, the largest membership service organization in Alberta, so being customer-focused is in its DNA. Bridgewater’s mission is to help its partners succeed with honest, straightforward service and solutions to meet and exceed their needs. For more information, visit bwbbrokerinfo.ca.

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Skye McLean Axiom Mortgage Solutions Jason Singh Broker Financial Group Anne Brill Centum Metrocapp Wealth Solutions Collin Bruce DLC Mortgage Mentors Bill Harries MCC, Sky Financial Corporation Steven Levine True North Mortgage Nick L’Ecuyer VERICO The Mortgage Wellness Group

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2016-05-20 1:37:35 PM

The Canadiana Financial Corporation Award for

BROUGHT TO YOU BY:

Mortgage Brokerage of the Year Fewer Than 25 Employees

“Winning means that we have an amazing team. We’ve got amazing people, the best in the industry. We have people who care and want to do the best for their clients” JAMES LOEWEN Loewen Group Mortgages

JAMES LOEWEN is one of the hottest young brokers in the industry, and it’s clear his brokerage excels in all areas of the business. This is evidenced by the fact that he was up for three different awards at this year’s Canadian Mortgage Awards: Best Customer Service, Best Use of Mobile Technology and, of course, Mortgage Brokerage of the Year (Fewer Than 25 Employees). Loewen has achieved a massive amount of success in his short tenure as a broker, including ranking in the top 20 in mortgages funded by volume this year, with a total of $94,538,484 That success will surely continue in the future – especially considering his business philosophy. He’s quick to commend his team, and he tries to create the best possible experience for his clients.

“The night has been very good,” Loewen said. “The success is built on the back of a small-town thought that what goes around comes around and that how you treat people makes all the difference.” And his leadership has rubbed off on his employees.

“We treat every client the same, like they’re our family. Everything we do is for our clients,” said Christine Simpson, manager of Loewen Group. “We couldn’t thank them more. We won this award because James has taught us to treat people how you want to be treated, and we’ve done that.”

“We congratulate Loewen Group Mortgages. At Canadiana, we are committed to brokers like James and his team by delivering superior service, thoughtful lending solutions and competitive rates” MATT LIRANTZIS, Canadiana Financial Corporation

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BROUGHT TO YOU BY:

FINALISTS DLC Powerhouse Mortgages

AWARD SPONSOR

Invis West Coast Mortgages

Buying a home or investment property is probably one of the biggest and most important purchases you will make in your life. To make it a smooth, successful process, you need to surround yourself with a team of people who really know what theyâ&#x20AC;&#x2122;re doing â&#x20AC;&#x201C; experts with the know-how to help you make the best decisions.

Loewen Group Mortgages Mortgage Managers Mortgage Teacher Redwood Mortgage Corporation DLC Brokers For Life (formerly VERICO Brokers For Life) VERICO Northeast Mortgages

Canadiana Financial Corporation is that partner. We work closely with brokers and their buyer clients to provide excellent products that fit specific situations, from couples looking for their first home to investors seeking rental units to owners renewing their existing mortgages and searching for a better rate. Our clients depend on our expertise; our people have decades of experience in the mortgage industry and can leverage that knowledge to provide solutions that build dreams. For more information, visit canadianafinancial.com.

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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The FCT Award for

BROUGHT TO YOU BY:

Mortgage Brokerage of the Year 25 Employees or More

“We’re very grateful to be in this spot. We’re thankful for our team; it truly is a team award” PAUL BOJAKLI Quantus Mtg Solutions

THE SIGN of a good leader is one who shares the kudos with his subordinates, and that’s exactly what Paul Bojakli and Todd Fralic of Quantus Mtg Solutions did. “We’re very grateful to be in this spot,” Bojakli said when accepting the award. “We’re thankful for our team; it truly is a team award.” They also had some kind words for their peers. “Thanks to all the nominees; it’s been a great event. We started seven years ago ,and we’ve grown quite a lot. We’re very fortunate.” Winning this category is a feather in the cap of any brokerage, and it’s perhaps even more impressive that such a young company took home top honours this year.

“FCT is honoured to be a part of such an important event. It’s a night where we celebrate the best of the best, and being able to sponsor the top brokerage house of 25 people or more is particularly meaningful for us. The broker segment is growing, and FCT is looking forward to partnering with this channel long into its successful future” JACKIE CHETCUTI, FCT

AWARD SPONSOR At FCT, our relationships with our customers, employees, stakeholders and communities are guided by strong values. We are committed to serving with passion, to exceeding expectations, to thinking differently and always acting with integrity. We work to ensure that our activities produce minimum negative impact on our environment and the people around us. FCT products and services not only reduce risk for our customers, they also reduce costs and paperwork. Our focus on social responsibility also extends beyond our customers to our local communities. For more information, visit fct.ca.

FINALISTS DLC Mortgage Mentors Morcan Direct Mortgage Edge Quantus Mtg Solutions Sherwood Mortgage Group TMG The Mortgage Group Alberta VERICO Xeva Mortgage

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The D+H Award for

BROUGHT TO YOU BY:

National Broker Network of The Year “It feels fantastic to have won. It’s a wonderful industry, and we’re humbled and privileged to be a part of it. It was a great evening” JOHN KELLY VERICO Financial Group

VERICO HAS been a leading mortgage broker network since its inception, and winning the National Broker Network of the Year Award solidifies what they have done in the past and, indeed, what the industry can expect from them in the future. “I think our dedication to professionalism has enabled us to win tonight – our integrity, our straightforward approach to the business,” said Colin Dreyer, president and CEO of VERICO Financial. “Helping owners grow their businesses and helping mortgage agents with the support that we give – I think that’s significant, and it got recognized tonight.”

“D+H was honoured to sponsor this year’s National Broker Network of the Year award. We take pride in recognizing fellow companies that go above and beyond to advance our industry. Congratulations to VERICO and the other nominees for their outstanding achievements” TIMOTHY RYE, D+H

FINALISTS

AWARD SPONSOR

Axiom Mortgage Partners TM

Founded in 1875, D+H provides innovative programs, technology products and technology-based business services to customers in the financial services industry who offer deposit, lending, insurance and wealth management products to consumers and businesses. At D+H, we are dedicated to understanding the unique challenges facing our customers. That understanding, combined with our industryleading mortgage technology solutions (Expert for origination, Express for underwriting, and Exchange for collaborative document management, and a variety of business process services) allows us to develop the right answers – answers that help our customers build their business. For more information, visit dh.com.

Broker Financial Group Centum Financial Group Dominion Lending Centres Invis/ Mortgage Intelligence MCC Mortgage Centre Canada Mortgage Architects RMAI Financial Group TMG The Mortgage Group VERICO Financial Group

COMMEMORATIVE GUIDE CANADIAN MORTGAGE AWARDS 2016

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PEOPLE

BROKER INSIGHT

Staying on top in a tough market Collin Bruce works out of Edmonton, a market that’s seen its share of challenges with the oil slump. And yet, Bruce has been CMP’s top broker for three years running. So what’s his secret?

CMP: How did you become a mortgage broker? Collin Bruce: I started originally at a big bank here in Edmonton, in commercial lending. Then my brother and I got a couple of Subway franchises. So I went from banking to sandwich artist. And at the same time, I was trying to flip homes with a couple of friends. We were about six months too early to start flipping homes, and the Subway franchises were so expensive that when I got out of that, I was just about up to my eyeballs in credit card debt. The broker we were using for these flips said, “Hey, you should get into mortgage brokering.” The problem was that I didn’t have the $1,000 to pay for my real estate course. So I checked my bank account, and Subway had refunded me for a microwave I’d returned a year before. So that’s really how I got into it. Because of that microwave, I got into mortgage brokering.

CMP: You’ve been at the top of our Top 75 Brokers list for three years now. What’s your secret? CB: I do a ton of advertising here in Edmonton. I think what all that’s done is that we’ve become the choice for anyone who wants to use a mortgage broker for the first time, versus going to their bank. We’re on two radio stations; we’re on TV; we sponsor the 6:00 news on Global, which is a big news-

cast here. We’re in numerous real estate publications and online. And when that’s all combined with the buildup of our repeat and referral clients and the fact that we sponsor a lot of charities, it creates such a snowball effect that we’re a trusted source. I think mortgage brokering is a lot stronger now than when I started. There was this misconception that if you had bad credit, you used a mortgage broker. Now brokers are winning over people as a good alternative. And because of our brand recognition, we’re becoming the choice.

CMP: Tell me a little about Mortgage Mentors. CB: I’ve been with Dominion Lending Centres since 2007, and we opened up our own mortgage brokerage in August of 2009. We have 47 agents right now, and our volume last year was $720 million as a group. It’s a ‘work hard, play hard’ environment here. We haven’t had an agent leave us – excluding

a few brand-new agents who just left the industry – since 2009. We share everything – volume bonus, efficiency bonus. Everything is on the table for the agents. We want them to succeed, because the more volume we have as a whole, the better it is for all of us.

CMP: Mortgage Mentors is part of the DLC network. Has that connection been helpful to you? CB: Well, they’re the biggest superbroker in the country, and right down from head office, they’ve been a huge, huge support for us. Anything we need, they’re right there. Dominion’s got a huge brand name, too, especially now with the DLC group originating more mortgages than any of the big five banks in Canada. To have those guys behind you, with that brand name and that technology – it’s another level of brand recognition for us.

CMP: Do you feel like it’s a good time to be a broker right now?

ABOUT MORTGAGE MENTORS Collin Bruce’s firm, Mortgage Mentors, has been DLC’s top brokerage for the last five years. Founded in 2009, the brokerage currently has 47 agents and did a total sales volume of $720 million in 2015. Bruce is also DLC’s number-one mortgage broker, and has been number one on CMP ’s Top 75 Brokers list for three years running.

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DOMINION LENDING CENTRES FAST FACTS

“I think mortgage brokering is a lot stronger now than when I started. There was this misconception that if you had bad credit, you used a mortgage broker. Now brokers are winning over people as a good alternative”

Founded in 2006

Has earned numerous awards, including the CMA Best Newcomer Award in 2008, and the CMA for Best Branding in 2009 and 2010

2010 CMA Brokerage of the Year

2012 CMA National Broker Network of the Year

More than 350 offices across Canada

More than 2,400 mortgage brokers CB: Yeah, I do. Obviously, we’ve been able to increase our market share in a down market – it ebbs and flows with oil here. But oil will rebound. It’s a tough market, especially right now. But if you can get established and get some clients, when the market does turn around here, newer agents are going to be set. Hopefully they can ride that wave up and have success. The more agents, the better in this industry, I think. There’s power in numbers.

CMP: Are there any challenges or opportunities on the horizon that brokers should keep an eye out for? CB: The big five banks are still pretty aggressive, but brokers are making big strides. I think as we move forward, underwriting is going to get stricter and stricter. It just seems investors’ appetites are getting tighter and tighter. But there’s a big opportunity there for alternative lenders, since not everyone can fit in that AAA mold.

More than 50,000 mortgages funded annually

Total volume of more than $18 billion per year

www.mortgagebrokernews.ca

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FEATURES

FEEDBACK

Feedback is broken Providing feedback is vital to improving performance, yet many people receive it – and deliver it – poorly. Georgia Murch explains how to create a culture of feedback that is beneficial to the employee and the company as a whole

viduals understand the value and power of giving and receiving feedback. We are aware it builds trust and respect between our employees, customers and stakeholders. We know that great conversations lead to better outcomes and therefore productivity and profit. So we send our people to a training program in the hope they will come back a changed person. Yet we find that our people – and, if we are honest, ourselves – still avoid feedback or handle it poorly.

The history of feedback The concept of ‘performance management’ was introduced about 60 years ago as a means to determine the wages of an employee based on their performance. It was used to drive behaviours to generate specific outcomes. When employees were solely driven by financial rewards, this tended to work well. In the late 1980s, not all employees felt rewarded, nor motivated by financial gain alone; many were driven by learning and the development of their skills. From here, performance management started moving into more frequent monitoring and reviews with a focus on regular feedback outside the formal review process. As organizations put more regular conversations into the mix, there was a notable improvement in productivity and employee engagement when the conversations were handled well. In fact, the Corporate Leadership Council tells us that when informal feedback is delivered well, it can improve productivity by nearly 40%. Now that’s pretty compelling. We are now seeing an emerging trend

ization. This is not as difficult as you might think, but it does require planning upfront to understand what you want to improve and how to measure it. Another challenge can be getting traction after the training. It can be difficult to keep the momentum up when people are either not motivated or not supported to embed what they have learned. Unless we make people accountable to implement what they have learned, it is likely to be forgotten. We also need to make it inspiring to do so. We want people to know they are gaining time, not wasting it, by focusing on improving.

in high-performing organizations where all employees, not just the leaders, are being taught how to give great feedback and also how to receive feedback with equal candour and grace. Organizations that do this are in their ‘feedback flow.’ But there are far too few that are gaining this as their competitive edge. Many are still running training programs in isolation in the hope that it will develop their people and create a new organization, which is as likely as going to the gym once and expecting a body transformation. When done well, it is a start – and a good one – but a start alone nevertheless. Nelson Jackson was onto it when he said, “I do not believe you can do today’s job with yesterday’s methods and be in business tomorrow.” So, why aren’t all organizations focusing on improving the feedback skills of their people? In a challenging economy, it’s getting harder to justify training without proving the value, both to the individual and the organ-

Training alone is not enough to drive change We need to get comfortable with pushing through the awkwardness of changing habits and processes to move to a breakthrough in the capability of people and to create improved cultures. Otherwise we have a breakdown and go back to old styles, which

STEPS TO CREATING A SUSTAINABLE CULTURE breakthrough

awkward Return on investment

MOST ORGANIZATIONS and indi-

ire Rew

tain Sus

iew Rev Do Plan

rn Lea

breakthrough

Time

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STEP 4 Review Too many times, we implement without measurement. Based on the foundations we set in the planning phase, we should consistently measure progress. Then report back to engage people and the business. We also set up ‘remembering rhymes’ so people are able to easily recall what they learned and put this into place.

STEP 5 Rewire We need to understand what’s working and what’s not and then tweak the implementation and change direction if required. There is no point pushing something that is not at its optimum. In particular, we can do an ‘appreciate inquiry’ to understand what’s working well and amplify it across the business.

STEP 6 Sustain We shouldn’t make the mistake of thinking we’ve made it and then drop all of our good work. While sustaining suggests a holding pattern, it still requires careful planning to keep people motivated and supported to be the change they seek.

often don’t serve us or the business. Many of my clients tell me that they understand the need to push through the awkwardness, but they are not quite sure how to do this. If we want the change to be sustainable and improve over time, then we should consider all the elements to creating a remarkable feedback culture. The following is a highlevel guide that takes all of those elements into account.

STEP 2 Learn For the training component to be successful, you need more than just great design. Hire remarkable facilitators and trainers. Make sure they suit your culture. Consider what methods outside the workshop you have to embed such as coaching, mentoring, online tools, etc. Make the learning highly engaging and heavily pragmatic.

STEP 3 Do STEP 1 Plan This phase is about setting the foundations for a successful rollout. What are the objectives? How do we know the program will address what we need? How can this be measured? Consider qualitative and quantitative measurements. What is the communication strategy? Who are the key stakeholders? Consider pilot programs to test the design.

It’s make or break time. Set up systems and processes where people are accountable to deliver on what they have learned. In my space, it is about having the tough conversations. Create lots of space, in and out of the initial training, for practice. Create the right conditions, and this will help people move from awkward to an outcome. If we don’t, then the return on investment is lost.

If we really want to create cultures of feedback, we need to put in place a program to embed the learning. Too often I see organizations miss this opportunity to improve their return on investment, on the dollars spent and time allocated, after the initial training – then wonder why people are not being the change they are looking for. Changing habits does not happen overnight. It is a planned and considered approach. And it’s not as complicated as we think. When we get clever about how to embed the learning, the change then becomes effortless and the culture is able to self-sustain.

Georgia Murch is an expert in teaching individuals how to have tough conversations and create feedback cultures in organizations. She is the author of Fixing Feedback and a highly engaging speaker. Visit www.georgiamurch.com or email georgia@georgiamurch.com.

www.mortgagebrokernews.ca

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PEOPLE

CAREER PATH

NO RISK, NO REWARD

Michael Sjerven has never been afraid to take chances in his professional life – and that philosophy has led him to great success 2008

REALIZES A DREAM

2007

BECOMES A BDM

While looking for his first job in the mortgage industry, Sjerven was offered a position as a BDM by a new lender “It was a fantastic opportunity to get into the industry and learn a lot. The lender was one of the first to offer trailer fees, so it was an interesting niche to be involved in”

Eventually, Sjerven took a leap of faith and became a mortgage broker. A few years later, he followed that up with another risk when he launched VIVID Mortgage

“[Becoming a mortgage broker] was scary, given that there’s no guaranteed pay cheque. I worked very hard the first few years. It paid off, and I learned that the more energy you put into something, the better results you will get” 2005

GETS INSPIRED

2003

Without a job lined up, Sjerven moved to Vancouver, where a friend helped him find work selling advertising for buses and trains “One of my first advertising clients was a mortgage broker, and it got me thinking about the industry. I knew I wanted the freedom and potential of being my own boss, so I took the mortgage broker course during this time”

COMES HOME TO BC Saying sayonara to Japan and teaching, Sjerven returned to his hometown of Port Alberini in BC, where he found work at the local pulp mill alongside his father “Labouring for 12-hour shifts in extreme/hot conditions was sometimes tough. I appreciated being in a union and working at the same company as my father. The mill eventually shut down a paper machine and laid off some workers, and I knew it was time to get back into the business world”

2000

MOVES TO CALIFORNIA Lured by the prospect of sunshine and surfing, Sjerven headed to Southern California for a job selling aircraft aluminum – but soon found his California dreaming didn’t match up with his reality “The sun and surf eluded me somewhat as I was stuck inside an office. Wearing a tie and working 8 a.m. to 5 p.m. with minimal holiday time while scraping out a living was not my idea of fun”

2001

HEADS ACROSS THE PACIFIC Disappointed by the drudgery of working in the US, Sjerven set his sights even farther afield, moving to Japan, where his girlfriend at the time was teaching English “I got a job in Hitachi as an assistant English teacher at a junior high school. Although I didn’t plan to stay in Japan for long, I ended up being there for one and a half years. It was a cultural challenge”

1999

GRADUATES FROM ROYAL ROADS UNIVERSITY

An early interest in business and marketing took Michael Sjerven to Royal Roads University in Victoria, where he earned a bachelor of commerce degree in entrepreneurial management “I was always interested in business and marketing, so getting a relevant degree seemed to be the logical career step at the time”

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PEOPLE

OTHER LIFE

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

THE GIFT OF SONG What does busy mom and mortgage broker Jennifer Matthias do for fun? Sing – and sing well JENNIFER MATTHIAS grew up dancing, singing and acting in theatre productions, so as an adult with a family and a thriving mortgage business, she found that singing was a great outlet. “Finding Revv52 eight years ago and being offered a spot in the group was a godsend,” says Matthias, a mortgage planner with Mortgage 360 in Calgary. “It’s a challenging group with some of the most talented singers in Calgary. They are like a second family to me, and I have met some of my best friends singing with them.” The fully auditioned group of singers, led by artistic director Brian Farrell, includes more than 50 songs per season in their repertoire. “We perform [for] more than 4,000 people per year in what can only be explained as a vocal rock concert,” Matthias says. “We sing contemporary music and have a full five-piece rock band at every concert.” Matthias loves the fact that the group continues to push the boundaries of choral singing, which paved the way to one prestigious venue. “This past March, we were invited to sing in Total Vocal at Carnegie Hall in New York City. Out of 15 groups, we were one of two groups chosen to do a feature song in the concert. We have already been invited back to sing at the same event next year.”

2008

Year Matthias joined Revv52

50+

Number of songs Revv52 practices and performs each year

Number of groups (including Revv52) that participated in Total Vocal at Carnegie Hall last year

www.mortgagebrokernews.ca

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