CMP 17.01 by Key Media

MPAMAG.COM/CA ISSUE 17.01 | $12.95

2022

MORTGAGE EMPLOYERS Canada’s top mortgage employers have won brokers’ votes for putting their employees front and centre

TOP 75 BROKERS 2022

The high-volume brokers leading the way in a field rife with competition

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CANADIAN MORTGAGE AWARDS

Find out who’s in the running for this year’s prestigious industry awards

ALTERNATIVE LENDING

Non-traditional lenders are filling the gap that banks have left open

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ISSUE 17.01

CONNECT WITH US

CONTENTS

Got a story or suggestion, or just want to find out some more information? twitter.com/CMPmagazine facebook.com/MortgageProfessionalCA

SPECIAL SECTION

LENDING GUIDE UPFRONT 02 Editorial

PEOPLE

INDUSTRY ICON

Premiere Mortgage Centre’s Kerri Reed takes a family-orientated approach to the brokerage built on relationships

CMP highlights the 28 mortgage employers given top ratings by brokers for putting their people first

INDUSTRY ICON BM Select CEO David Butler, CMP’s top Mortgage Broker in Canada by Volume for four years running, explains how tapping into the investment market has been key to his success

Low listings and skyrocketing prices make for a hot housing market

09 Opinion

FEATURES

SPECIAL REPORT

PEOPLE

04 Statistics

As rates rise, demand for alternative lending solutions will grow

SPECIAL REPORT

5-STAR MORTGAGE EMPLOYERS

The broker’s role is more essential than ever

2022 TOP 75 BROKERS

The top brokers in Canada who are rising above the rest with their impressive loan volumes

58 Workplace culture

Culture needs to be redesigned to suit the new working world

60 Leadership

How to invest in team relationships and unlock hidden intelligence

62 Productivity

Instead of using time-saving hacks, get to the root of the problem

PEOPLE 56 A collective goal

The Collective Mortgage Group’s Christine Buemann takes a transparent approach to sharing business wins

64 Other life

Rock Solid broker Remi Korent has skated to success

FEATURES

CANADIAN MORTGAGE AWARDS

Presenting the 2022 Excellence Awardees in the run-up to the gala awards ceremony in April

MPAMAG.COM/CA CHECK IT OUT ONLINE www.mpamag.com/ca

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UPFRONT

EDITORIAL

www.mpamag.com/ca ISSUE 17.01

Brokers are needed now more than ever

t’s been a case of déjà vu for mortgage professionals in Canada in 2022, with the blistering pace and frenetic activity of the market looking an awful lot like what happened over the course of the previous two years. There’s been little sign of any cooling-off in the market in the year to date as demand remains sky-high and prices continue their seemingly unstoppable upward trajectory across the country. Like 2020 and 2021, this year has witnessed its fair share of challenges for brokers, agents, lenders and other professionals in the mortgage space as they help their clients navigate an ever-more-complex market landscape. Chief among those has been the inevitable climb of both fixed and variable interest rates, with an improving economic outlook and gradual but steady pandemic recovery influencing the Bank of Canada’s decision to hike its benchmark rate for the first time since 2018.

Agents and brokers have the ability to guide customers through the challenges and opportunities of the modern market That’s to say nothing of the oft-mentioned housing supply issue across the country, which has seen inventory levels at record lows in many markets and would-be buyers facing a bidding environment that’s more competitive than ever. That combination of factors has made the role of the mortgage advisor more essential than ever. Rather than reducing prospective buyers’ hunt for a mortgage to a simple yes-or-no answer, agents and brokers have the ability to guide customers through the challenges and opportunities of the modern market. With the transformation of the housing and mortgage markets in recent years, there’s also been a profound change in how people search for their mortgages – and brokers and agents need to ensure they’re making the most of the tools at their disposal to feature as prominently as possible in that process. By putting a real focus on digital marketing, online presence and social media, mortgage professionals can establish themselves as a highly visible source of expertise on a variety of matters, from qualifying for a mortgage to refinancing and interest rate increases. The complexity of today’s market means that borrowers are in greater need than ever of the expertise and guidance of a mortgage expert. Make sure you’re the first one they find when they go looking. The team at Canadian Mortgage Professional

EDITORIAL

SALES & MARKETING

Managing Editor Paul Lucas

Publisher Chris Anderson

Editor Fergal McAlinden

National Account Manager Corey Bahadur

Writer Karen Surca Copy Editors Roslyn Meredith, Karen Atienza, Kel Pero

CONTRIBUTORS Colin D. Ellis, Amantha Imber, Rob Pyne, Steven Tulman

ART & PRODUCTION Designers Khaye Cortez, Loiza Razon Production Manager Alicia Chin Production Coordinators Kat Guzman, Loiza Razon Client Success Coordinator Cole Dizon

Sales Executive Alan Stewart Project Coordinator Jessica Duce

CORPORATE President & CEO Tim Duce Office/Traffic Manager Marni Parker Events and Conference Manager Chris Davis Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil Global CEO Mike Shipley Global COO George Walmsley

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Key Media Canada (Mortgage) Ltd. 317 Adelaide Street West, Suite 910 Toronto, ON M5V 1P9 tel: +1 416 644 8740 www.keymedia.com Toronto • London • Denver Sydney • Auckland • Manila • Singapore

Canadian Mortgage Professional is part of an international family of B2B publications, websites and events for the real estate and mortgage industries MORTGAGE PROFESSIONAL AUSTRALIA claire.tan@keymedia.com T +61 2 8437 4772

AUSTRALIAN BROKER

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Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss

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jeff_sampson@centum.ca | thecentumnetwork.ca ®/™ trademarks owned by Centum Financial Group Inc. (C) 2021 Centum Financial Group Inc. The intent of this communication is for informational purposes only, and is not intended to be a solicitation to anyone under contract with another mortgage brokerage operation.

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UPFRONT

STATISTICS HIGH ACTIVITY IN RESIDENTIAL MORTGAGE MARKET

29%

of Canadians believe it’s a good time to buy a home in their community

Across Canada, residential mortgage origination and loan value numbers continue to be significant.

73%

NATIONAL MORTGAGE ORIGINATIONS

CANADIANS’ VIEWS ON HOUSING MARKET

666,000 Number of loans

$193.90bn Total value of loans

believe house prices in Canada will rise even further in the near future

Despite skyrocketing home prices across the country in recent years, Canadian homebuyers clearly believe there’s room for further growth in the near future. That said, a clear majority still think purchasing a home is a good long-term idea, according to MPC.

NATIONAL MORTGAGE ARREARS LOWER THAN PREDICTED Although COVID has played havoc with some sectors of Canada’s economy, mortgage defaults and resulting large-scale power of sales/foreclosures remained at extremely low numbers nationally in March 2022.

Number of mortgages in arrears

$291,015 Average loan value

Total number of mortgages

6m 5m

8,296 0.17%

1,338 0.06%

3m 2m

2,148,470

1m 0

Source: CMHC Residential Mortgage Industry Report

5,026,995

Percentage of mortgages in arrears

National

Ontario

856 0.12% 706,118 British Columbia

1,257 0.13% 951,665 Quebec Source: Canadian Bankers Association

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71%

LIMITED NEW LISTINGS AS PROPERTY PRICES SOAR believe real estate is still a good long-term investment in Canada

Vancouver and Toronto, two of Canada’s priciest housing markets, are seeing little inventory movement and substantial value gains.

TORONTO

VANCOUVER

90% 7%

New listings, Feb 2022

of Canadians are happy with their decision to purchase a home

wish they had purchased a different home

up 5.7%

up 42.9%

Monthly change

up 7.3%

Year-over-year

Home prices, Feb 2022

regret their decision to buy a home

up 3.1%

up 4.1%

Monthly change

up 20.8%

up 35.9%

Year-over-year change

Source: Mortgage Professionals Canada (MPC) State of the Housing Market report, March 2022

Source: RBC February 2022 Housing Report; MLS Home Price Index February 2022

HOTTEST MARKETS SEEING BIG PRICE GAINS

KEY TRENDS IN CANADA’S REAL ESTATE SECTOR

Property values continue to head northward in the Vancouver and Toronto housing markets.

Canada’s mortgage and real estate numbers have been nothing short of jaw-dropping. With the housing market in overdrive from coast to coast, the Canadian Real Estate Association’s key statistics tell the story.

SNAPSHOT OF PRICE RISES – 3-BEDROOM PROPERTY Vancouver

month-on-month rise in national home sales

Toronto

$2.5m

4.6% percentage of Canada’s markets that saw an increase in home sales

$2.5m

$2.4m

60%

$2m

year-over-year gain in national average sale price

$1.9m $1.5m

$1.4m

$1.5m

$1.7m

20.6% rise in home prices in month to Feb 2022

$1m

3.5% rise in home prices in year to Feb 2022

Nov 2021

Jan 2021

Mar 2022

Source: Zolo Real Estate Vancouver and Toronto Housing Market Reports, March 2022

29.2% Source: Canadian Real Estate Association; MLS Home Price Index, February 2022

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PEOPLE

INDUSTRY ICON

COMING OUT ON TOP OF THE INDUSTRY Leaving the competition far behind, BM Select CEO David Butler is leading the mortgage race with his winning business model

THE MORTGAGE field is anything but easy, with competition fierce and more choices than ever before for the investor and consumer. That means mortgage brokers need to go the extra mile to lead

the client from the perspective of their own unique financial picture, the broker can step up their game to a higher level. Cruising by the competition, David Butler, CEO and president of BM Select,

“I could now pivot my efforts and my business towards real estate investors, and I did this by working with investment clubs across the country, and I also teach investors how to invest in properties” the mortgage pack – it’s not enough to just negotiate a cheap deal. To truly shine, brokers need to stay on top of current trends and provide unique services while keeping their eyes squarely on the prize – the client. By taking the time to determine what a real estate investor is looking for and viewing

has always put the unique needs of the investor first and has proven that he has the right mix of fortitude, commitment, and a seasoned understanding of the business to reach the highest rungs of the mortgage ladder. The mortgage business is virtually in Butler’s genes. Following in the footsteps

of his father, Butler had the good fortune to see the inner workings of the mortgage field from a very young age. From this vantage point, several things became clear to him when it was time to take the reins. Butler realized that the broker space was often not perceived in the best light. “I thought it was a weak industry,” he says. “There were not a lot of barriers to entry in the early 2000s when I entered the industry. Mortgage brokers were viewed as people who could help you when the banks didn’t approve you.” Butler was also keenly aware that everything was about to change. He believed it was only a matter of time before the mortgage sector would see increased consumer use of the internet, and with it, an inevitable technological upswing in the mortgage space. He also predicted that investor interest in real estate would form a big part of the mortgage picture, a segment he was determined to draw from.

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PROFILE Name: David Butler Title: President and CEO Company: BM Select Based in: Richmond Hill, Ontario Years in the industry: 20 Career highlight: “My career highlight would be back in early 2018 when I was named the number one mortgage broker in Canada through the CMP Top 75 Rankings.” Fun fact: “I enjoy travelling with my fiancée, Anna. We love travelling out west to the Canadian Rockies and snowboarding or skiing in the mountains. Also, we have a cottage in the Kawarthas, so we spend a lot of time out there in the summer and keep ourselves active with wakeboarding and wakesurfing.”

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PEOPLE

INDUSTRY ICON “I recognized early on that there would be a new consumer who was a real estate investor who wanted to accumulate real estate and build a portfolio to allow them to retire simply on real estate,” Butler explains.

ment, a fulfillment department, as well as a compliance and HR department. We took the process and divided it up into six different segments and have our people focus on being a specialist on their part of the transaction.”

Real estate as an investment Tapping into the investment market has been Butler’s key to success, enabling him to position himself and his brokerage at the top. “I could now pivot my efforts and my business towards real estate investors, and I did this by working with investment clubs across the country, and I also teach investors how to invest in properties,” he says.

Industry recognition This unique business approach has been recognized throughout the Canadian mortgage space, resulting in multiple awards for Butler, which demonstrate the efficacy of his working model. Chief among Butler’s accomplishments is the impressive feat of being ranked by

“There were not a lot of barriers to entry in the early 2000s when I entered the industry. Mortgage brokers were viewed as people who could help you when the banks didn’t approve you” Whether working with clients who are just dipping their toes into the property investment pool or investors looking to add to their already substantial real estate portfolios, Butler has more than earned the title of CMP’s leading broker in its Top 75 Brokers 2021 list. Gearing BM Select’s business model to target each client’s borrowing objectives comprehensively, while supporting the application process with a hand-picked team of mortgage experts, Butler has been able to offer a specialized service. He starts with the firm belief that a winning mortgage formula means building a strong team around a few top mortgage agents. “We’re looking at roughly $621 million in volume done by just two agents. We don’t hire a lot of agents; instead, we view the agent as just part of the [mortgage] transaction,” Butler says. “There should also be an applications department, an underwriting depart-

CMP as the number one broker in Canada by volume for four years running: in 2018, 2019, 2020 and 2021. When asked for the secret ingredient in his mortgage recipe for success, Butler is quick to offer his wisdom. “You have to exude confidence and ensure that the client trusts you, so you must do everything you can to make them realize that you’re on their side,” Butler says. Exemplifying these qualities and more, he divulges a few more of his core ingredients. “This is a deadline business. You must multitask and understand the significance of these deadlines. There are always going to be financing conditions, closing dates, and you must know how to handle this type of workload,” he says. Butler has taken on the mortgage game – which is not for the faint of heart – with the intensity needed to thrive. “You need to have the willingness to go through the fire,” he says.

DAVID BUTLER: A WINNER’S JOURNEY

2004

Wins Mortgage Intelligence Rookie of the Year award

2009

Nominated for CMP Mortgage Broker of the Year

2010

Wins Mortgage Intelligence award for #1 Volume Producer (Ontario)

2011

Creates the Butler Mortgage brand with his father and brother

2018

Wins CMP award for #1 Mortgage Broker in Canada by Volume; nominated for CMP ’s Mortgage Broker of the Year award

2019

Wins CMP award for #1 Mortgage Broker in Canada by Volume

2020

Creates BM Select brand with business partner Daniel Patton; wins CMP award for #1 Mortgage Broker in Canada by Volume

2021

Wins CMP award for #1 Mortgage Broker in Canada by Volume

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UPFRONT

OPINION

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

The impact of rising rates With interest rates set to increase in the year ahead, the demand for alternative lending will grow, says Steven Tulman WORKING IN the mortgage industry is an eye-opener, and one thing we have all been keeping an eye on is the upward trajectory of the remarkably low Bank of Canada overnight rate. With continued supply chain issues and still-rising inflation, it came as no surprise that the BOC finally raised its overnight lending rate on March 2, for the first time since October 2018. While the increase was only 0.25%, bringing the new overnight rate to 0.50%, there is no doubt in my mind that more rate rises will be announced in the next few months.

What this means is that variable mortgage rates and variable home equity lines of credit will increase, since they are tied directly to the prime interest rate. Fixed mortgage rates, however, are not tied to the prime rate. Instead, chartered banks base most of their decisions on the bond market when setting fixed rates. Banks base their fixed mortgage rates on the interest they earn from their investments in bonds. They use the money they earn from bonds to help offset the losses they incur on the mortgage side. Since Canadian bond markets continue to yield high returns, we

I believe we’ll see increased growth in the alternative lending space in the short term, and increased amortization periods down the road What causes the BOC to increase the overnight rate? The BOC is responsible for applying monetary policy by adjusting the overnight lending rate to control short-term interest rates, and it uses this power to manage inflation and keep the Canadian economy on a healthy path. It’s clear to me that since high inflation tends to hurt economies overall and individuals financially, the BOC needs to step in to help manage the situation. Many expect it to continue increasing the overnight rate to reach 1% by this fall and 1.5% in early to mid-2023.

How will this impact mortgage rates? With this first of several expected increases, the prime mortgage rate will likely follow suit.

have seen regular increases in fixed mortgage rates since mid-2021 and expect this trend to continue throughout 2022.

How will rate rises affect borrowers? Since June 1, 2021, the stress-test qualifying rate has been 5.25%. This means borrowers wanting to pass the mortgage stress test are required to qualify at the greater of either their contract rate plus 2%, or 5.25%, which is the benchmark rate used to qualify borrowers for both insured and uninsured mortgages. With interest rates expected to keep rising throughout 2022 and even 2023, the stresstest qualifying rate will also likely increase. This will make things more difficult for homeowners looking to refinance their mortgages

through traditional banks and AAA lenders to access available equity in their homes. At Clover Mortgage, we have already seen a strong push toward the alternative lending space as home prices soared in 2021, and a steady increase in alternative ‘B’ mortgages and private lending. The recent and upcoming rate rises will further exacerbate growth in demand for alternative lenders. It’s safe to say that credit unions, trust companies and private lenders will be taking away business from the banks. I’ll add that mortgages from alternative lenders tend to come with additional costs and higher interest rates. Not all borrowers will be able to afford, or be willing to pay, the extra costs. Many hopeful homebuyers may reconsider and delay their purchases, which might lead to increased inventory and reduced buyer competition in the real estate market. Although this could lead to a slowdown in housing price growth, we should not expect to see decreases in home prices any time soon.

How can the government make mortgages more affordable? There are a few key things the government can do to help homebuyers afford their mortgages: • Reduce or remove the stress test • Reintroduce the 40-year amortization and allow uninsured mortgages to qualify on the full 40 years • Allow CMHC and other mortgage default insurers to increase the maximum amortization period from 25 years to 30, 35 or even 40 years for qualifying insured mortgage applications It will be interesting to see how the next year or two will play out, but I believe we’ll see increased growth in the alternative lending space in the short term, and increased amortization periods down the road. Steven Tulman is the president and co-founder of Clover Mortgage and Zenvest Capital. As a seasoned entrepreneur with over 20 years in the finance, marketing and technology sectors, Tulman uses his diverse business background to help revolutionize the mortgage experience for Clover Mortgage’s customers as well as mortgage brokers.

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PEOPLE

INDUSTRY ICON

FOUNDED ON RELATIONSHIPS Relationships form the framework of every mortgage deal for Premiere Mortgage Centre executive vice president Kerri Reed

IN THE midst of the many dizzying decisions that brokers have to make on any mortgage file, it’s easy for the client and broker relationship to get lost in translation. Acutely aware that relationships are at the centre of the mortgage process, Kerri Reed, executive vice president at Premiere Mortgage Centre, has made it her career focus to identify and protect the relationships she sees as central to ensuring consistently successful mortgage outcomes. Reed has chosen to foster, first and foremost, her relationships with her brokers, who she considers to be at the core of her professional family. She then puts the spotlight on the broker–client relationship. Both relationships help to solidify and propel the mortgage process forward, she says, taking it a crucial step beyond the rates-driven approach many brokers take with their clients. “I recognized early on how important the relationship with a client is,” she says. This personalized approach to the mortgage business has pushed Reed to the top and cemented her position as a leader to watch.

Banking beginnings Stemming from a banking background, Reed learned early on in her career what direction she didn’t want to go in. “I had been working

for a bank financial institution since I was 16 and stayed on working for the banks all through university and into my first career job with the Royal Bank,” she says. While she notes that this was a great training ground for the mortgage career that followed, she didn’t feel comfortable in the corporate environment. “I discovered that the investment side to a

“I decided that I was going to live and work in the same space, which to me meant going to a grocery store in jeans and a T-shirt and also [being] in a real estate office dressed in a business suit presenting to 100 realtors.” As Reed honed her skills in the lending space, destiny stepped in when she met Don MacVicar, her future business partner and co-founder of Premiere Mortgage Centre,

“I had a picture of a house, and the house was Premiere Mortgage Centre. In the house, brokers could have their own room, or they could share rooms ... but no one could lock their door” client relationship was not really something that I was passionate about, and, to be quite honest, I was terrified.” Deciding to put the client relationship first, Reed put her newfound wisdom to the test with a move to Oakville and a new role at Home Loans Canada. “I could now solely focus on building relationships with clients for mortgage financing,” Reed says.

which they later set up along with his brother. “We learned everything we needed at Home Loans Canada and were able to take [this experience] and build Premiere Mortgage Centre,” Reed says.

Building a home for brokers From its very early roots, Reed and her partners had a unique vision for Premiere Mortgage Centre that they used as a road

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PROFILE Name: Kerri Reed Title: Executive vice president Company: Premiere Mortgage Centre Based in: Richmond Hill, Ontario Years in the industry: 22 Fun facts: “My aspiration in my teenage years was to become a marine biologist. I also have the unique ability to be the lead vocalist as well as the back-up singer during every concert that takes place in my vehicle!”

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PEOPLE

INDUSTRY ICON

map to guide the business as it grew to become one of the largest brokerages in Canada. Premiere Mortgage Centre’s foundation was built on the core belief that, to be consistently successful, brokers must never lose sight of the human and personal connections that are made every day in the industry. “You have to be able to connect with people,” Reed says. “Connect on a personal

The ‘house keys’ to success When asked what opened the door to success for the business, Reed reflects before answering. “There are a lot of brokers out there, and agents, who are very successful and have done this on their own,” she says. “So that means that they are not interested in help, and they will help themselves. That is not Premiere Mortgage Centre. We are here to support [brokers’] development and support

“There are a lot of brokers out there, and agents, who are very successful and have done this on their own. So that means they are not interested in help ... That is not Premiere Mortgage Centre. We are here to support [brokers’] development” level and build relationships with the people that you are working with.” Providing an umbrella home for its brokers, Premiere Mortgage Centre has carefully maintained its foundations. “I had a picture of a house, and the house was Premiere Mortgage Centre,” Reed said. “In the house, brokers could have their own room, or they could share rooms, and there was going to be a common area in the house. There would also be individual rooms, but no one could lock their door.” Guided by this bricks-and-mortar analogy, Reed and her partners expanded the brokerage to 160 agents who are all proven top performers in the industry. “We didn’t expand to 160 agents overnight. It was one agent at a time, and now we’re the largest brokerage in Atlantic Canada,” Reed says.

the development of their individual business.” This supportive, family-orientated approach to what is often a very individualistic business has been a key leadership quality for Reed. “You have to be willing to support the successes and celebrate the successes, and in the harder times you need to be just present,” she says. Reed’s approach to leading her mortgage team has also paid off with over $3 billion in funded residential-based deals in 2021 for the ‘house’ that she and her partners have built. Embracing whatever the next addition to her mortgage home may look like, Reed remains keenly aware that it’s the relationships formed along the way that are the cornerstone of the perfect mortgage foundation.

PREMIERE MORTGAGE CENTRE: FAST FACTS

Opened its doors in Halifax, Nova Scotia, in January 2006

160 licensed agents/brokers and associates

Is licensed and has built successful client partnerships in Ontario, Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island

$3 billion in mortgage funding volume in 2021

7,945 loans closed in 2021

www.mpamag.com/ca

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SPECIAL REPORT

TOP BROKERS CONTENTS

This year’s Top 75 Brokers have delivered favourable services and deals amid economic complexities

PAGE

Feature article .............................................. 14 Methodology ................................................ 15 Top 20 Small Market Brokers 2022 .......... 16 Top 75 Brokers 2022 ................................... 18

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SPECIAL REPORT

TOP 75 BROKERS 2022

WEATHERING A TURBULENT MARKET IN SPITE OF predictions to the contrary, COVID-19 did not bring the mortgage sector to a screeching halt. Throughout 2021, despite new virus variants and a roller coaster of lockdowns, the volume of mortgage deals kept brokers working overtime to keep up with the demand. This year is shaping up to be a productive one with the same volume of business for brokers across the country. Arguably, several broader economic factors have coincided with the pandemic’s positive mortgage spinoffs,

including continuing historically low mortgage rates, a lack of supply of housing inventory, and jaw-dropping housing appreciation in Canadian housing markets of all sizes. As offers come across brokers’ desks without any contingencies and the requirement to work quickly to secure the best deal for their clients, to say that brokers from coast to coast have been kept busy is an understatement. “If you had asked me back in 2019 what

TOTAL FUNDED VOLUME OF THE TOP 75 BROKERS 2017

$7.8 billion 2018

$7.7 billion 2019

$8.9 billion 2020

$10.1 billion 2021

$14.6 billion

“It’s a time-sensitive business. You have to be quick on your feet. You have to be fast and efficient” Drew Donaldson, Donaldson Capital

is something that could cause the collapse of the real estate market, I would have said a global pandemic,” says Daniel Patton, mortgage agent at BM Select and one of the Top 75 Brokers this year. Add into the mix recent developments, including the backlog of supplies at major ports and disruptions to the supply chain, as well as inflation hovering at levels not seen since the early 1990s, and brokers still feel very positive about the direction of the mortgage space in 2022. The long-anticipated Bank of Canada announcement of a quarter of a percent increase to the overnight lending rate has not derailed broker enthusiasm. The interest in the mortgage space is expected to continue. “Our real estate went crazy. People can say whatever they want about economics, but it is all about supply and demand, so I anticipate the sales continuing to be strong as inventory comes available,” Patton says.

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Effective solutions When asked how it felt to be recognized by CMP as a top mortgage performer in a field rife with competition, the winners agreed that it was a thrill just to be nominated among one’s peers. “This is my 21st year of doing mortgages. I just would say that it’s really nice to be recognized and to have done so over my career and that all that hard work has paid off,” says Scott Brown, mortgage broker and owner at Ultimate Mortgage Group. For Tracy Valko, broker-owner at Valko Financial, it’s an honour to be recognized for the hard work and dedication she puts into the industry. “I am always humbled and grateful for the brokerage to be recognized. It’s not just one individual, it’s us together. I would say that we are a family, and we have to do it together,” she says.

Drew Donaldson, founder and principal broker at Donaldson Capital, says: “It’s a time-sensitive business. You have to be quick on your feet. You have to be fast and efficient.” Other qualities that the winners considered important are being responsive, patient, and willing to listen to their clients’ needs. “One thing that comes to mind is resilience. It’s not always the good times,” Clinton Wilkins, team leader at Centum Home Lenders, says. “In this industry, it can be very challenging with a lot of moving parts, so being organized is important as well.”

Successful approaches The approach that each broker takes when dealing with their valued clients can vary. The winners provided insight into what works best for them to get the deal done while putting the client front and centre.

“For us, the client approach is that we really try to have the same process for every client so that everyone gets the same positive experience from our team”

METHODOLOGY The nominations opened once again in January for this year’s Top 75 Brokers 2022. After receiving more than 220 nominations from across the country, the industry experts at CMP narrowed down the list based on specific, outlined criteria. To be eligible, nominees must have been licensed and employed as brokers in 2021. They were asked to submit a breakdown of their deals that included verifiable contact information. All mortgage deals and volumes had to be personally initiated and could only include residential-based mortgage deals. To qualify, brokers could not share in the commission earned from the deals that were submitted to CMP. Overall funded volume for 2021 formed the basis of the Top 75 selections. In the Top 20 Small Market Brokers, CMP also showcased those who are breaking new volume barriers in markets where at least 80% of the broker’s business is from average home prices of $365,000 or under.

Chris Allard, Smart Debt Mortgages 15th James Harrison, mortgage broker at Mortgages.ca and another top performer in 2022, says: “It feels great. We work so hard at what we do and to be recognized, and for our clients to see that we are recognized is really great, too.”

Winners’ top qualities The ability to navigate the sometimes harsh realities of the brokerage world is a skill that takes years to develop. Becoming a Top 75 Broker requires certain attributes to be brought to the mortgage table. “It takes a lot of hard work. I know that sounds cliché, but it’s the truth. Also, it involves being proactive with clients rather than reactive,” says Collin Bruce, mortgage broker at DLC Mortgage Mentors.

“For us, the client approach is that we really try to have the same process for every client so that everyone gets the same positive experience from our team,” says Chris Allard, mortgage broker at Smart Debt Mortgages. He adds that this experience is built around the first client phone call when the broker asks what the clients hope to achieve and what their long-term goals are. Patton believes that being a top-performing broker means having a balance of sales and underwriting. “You have to be honest and direct with your client and, in a fast-moving market, it certainly helps to give direct answers,” he says. Not to leave out the lending relationship, Donaldson draws attention to the

Year of CMP’s Top 75 Brokers list

$194 million Average annual volume among the Top 75 Brokers

360 Average number of deals funded by this year’s Top 75

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SPECIAL REPORT

TOP 75 BROKERS 2022 TOP 75 BROKERS BY PROVINCE

TOP 20 SMALL MARKET BROKERS 2022 Alberta British Columbia

1 24

Manitoba

New Brunswick

Ontario

Quebec

Vu Le Clear Trust Mortgages

Kirk Bryan Genesis Financial Investment Group

Sandra Allard Planiprêt

Tracy Luciani Price Forest City Funding

Viktor Schaefer One Link Mortgage & Financial

Gert Martens DLC HT Mortgage Group

Robert Jennings East Coast Mortgage Brokers

8 Shawna MacDonald The Mortgage Associates EST

“This is my 21st year of doing mortgages. It’s really nice to be recognized and to have done so over my career and all that hard work has paid off ” Scott Brown, Ultimate Mortgage Group approach needed to create a seamless lender submission. “We have what’s called the Donaldson difference. One of the four pillars on which it rests is the key relationships that we have with our lending partners. It has taken 15-plus years to develop those relationships,” he explains.

Running the long race When asked what lies ahead for the rest of the year, the winners agree that despite recent rate hikes that have directly impacted variable rates, the mortgage race will not be slowing any time soon. “It’s a rising interest rate environment. People may be taking a more conservative

approach and may pay a bit of a premium and lock in their rates with a fixed mortgage,” Donaldson predicts. Patton adds that “although inventory may be low right now, I anticipate the sales to remain very strong because there is such a backdrop of buyers.” And in Harrison’s view: “I don’t see rates skyrocketing. I think a lot of people will continue to refinance because most people are staying in their homes and wanting to be doing a major renovation or maybe buying a second property like an investment property.” Their piece of winning advice for 2022? “Believe in yourself and love yourself,” Valko concludes.

Cyrus Habibi Premiere Mortgage Centre

Todd Payzant Neighborhood Dominion Lending Centre

Deb White White House Mortgages

Chad Wilson Axiom Mortgage Solutions

Mark Goode Mortgage Man

Derek Vaillant TMG The Mortgage Group

Graham Reimer DLC Mortgage Excellence

Kent Bittner Axiom Mortgage Solutions

Steve Ryan TMG Prairies

Riel Syrenne Fresh Mortgage Co.

Ken Lankin MCC – Your Mortgage Professionals

Kim Nguyen Vine Group – Mortgage Alliance

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t. 866.441.3775 | f. 866.477.8897 | e. brokerpartner@cwbank.com Broker login Username: broker Password: #1lender

OPTIMUMMORTGAGE.CA OBSESSED WITH YOUR SUCCESS™ 13-18_CMP Top 75 brokers 2022-subbed.indd 17

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SPECIAL REPORT

TOP 75 BROKERS 2022

TOP 1

Daniel Patton BM Select

Alex McFadyen Alive

Singh Gill 26 Sharnjit Verico Superior Mortgage

Scott Travelbea DLC Travelbea & Associates

Vu Le Clear Trust Mortgages

Collin Bruce DLC Mortgage Mentors

Beg 29 Dion BM Select

Nick L’Ecuyer Mortgage Wellness

Wilson 30 Tyler Pilot Mortgage Group

Finkelberg 56 Daniel Clear Trust Mortgages

Joanna Lang Mortgage Agent

Varan Karunanantham iConnect Mortgages

Phil Cragg Mortgage Outlet

Dalia Barsoum Streetwise Mortgages

Christian Amurao DLC – Canadian Mortgage Experts

Sandra Allard Planiprêt

Asim Ali Royalty Financial

Drew Donaldson Donaldson Capital

Jacob Perez Synergy Mortgage Group

Win Lui Clear Trust Mortgages

Madan 34 Rakhi Key Mortgage Partners

Mackenzie Gartside Mackenzie Gartside & Associates – Select Mortgage Corp

Tracy Valko Valko Financial

Lev Keselman Peak Mortgage Company

Kyle Green Green Mortgage Team

Clinton Wilkins Centum Home Lenders

16 17 18 19

Chris Allard Smart Debt Mortgages Shawn Stillman Mortgage Outlet Eitan Pinsky Origin Mortgages Dave Griffin Griffin Financial Group

20 Susanna Penning

YourMortageSpecialist.ca The Mortgage Advisors

Denis Gagné Nadeau Dominion Financement Commercial

Gurvinder Sidhu Elite Lending

Serguei Totrov DLC - Your Mortgage Choice

Brandon Woodward Mortgage Financial (Independent)

Hugo Dos Reis Vine Group - Mortgage Alliance

Brad Unrau Maximum Mortgage Solutions

Baboolal 54 Barry Complete Mortgage Solutions

Raj Singh Mortgage Architects

H Bentley 36 Scott Premiere Mortgage Centre

Derek MacLean Capital Mortgages

Singh Sran 38 Vikramjit Sandhu & Sran Mortgage Toor 39 Harry Mortgage Wisdom Corporation

Paul Meredith CityCan Financial

Ryan La Haye Planiprêt

Janna Dawdy JCMortgages.ca

Josh Perez Synergy Mortgage Group

Hiren Patel Affinity Mortgage Solutions

Rakhee Dhingra Mortgage Savvy

Phone: 613 371 8076 Email: susanna@yourmortgagespecialist.ca Website: yourmortagespecialist.ca

(Yuhong) Bi 46 Grace Verico Fortune Effect Financial Group

Kirk Bryan Genesis Financial Investment Group

James Harrison Mortgages.ca

Jason Anbara Mortgage Alliance

O’Neil 24 Matthew Axiom Mortgage Solutions

BROKERS Pearl Kwan Origin

Bhullar 60 Satbir DLC Satbir Bhullar Mortgages

Miguel Oliveira Clear Trust Mortgages

Liddiard 62 Kevin DLC Easy Street Mortgages Yeo 63 John Keystart Mortgage Vellinga 64 Rob YBM Group Hough 65 Luisa Xeva Mortgage Calla 66 Angela Angela Calla Mortgage Team

Lena Ohanjanians Fuse Mortgage

Luciani Price 68 Tracy Forest City Funding Darwiche 69 Christopher Vine Group - Mortgage Alliance Vincent Tong Signature Mortgages, a division of DLC Clear Trust Mortgages

Viktor Schaefer One Link Mortgage & Financial

Varun Chaudhry Kraft Mortgages Canada

Brown 48 Scott Ultimate Mortgage Group

Cecilia Ramos Ultimate Mortgage Group

Ibrahim 49 Danny KeyRate Corp

Adam Bazuk YBM Group

Ingram 50 Jeff Canadian Mortgage Experts

Stanimir Rashev Continental Mortgage

Peter Puzzo Dominion Lending Centres -Top Producers

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SPECIAL PROMOTIONAL FEATURE

MORTGAGE BROKING

A brokerage in the ‘people business’ Vine Group co-founder Hugo Dos Reis explains how the brokerage is tackling inefficiencies in the broker space with some of the top broker talent in Canada IF THERE is one word that characterizes Vine Group Mortgage Alliance’s working model, it is ‘people’ – specifically, caring about the people involved in the mortgage process, from the client right through to the lender. Mortgages may often be numbers driven; however, for Vine Group, the real ‘heart’ of the mortgage process lies in getting to know the client and focusing on what the client needs. The brokerage views every mortgage file as an opportunity to look at the client’s whole financial picture and work closely with that client to provide the best mortgage fit.

matters, but the interest you pay that ultimately determines the best solution for you,” Dos Reis explains. “Sometimes the lowest rate isn’t the best option, because it could come with fees and penalties.” Vine Group is also keenly aware of what it sees as the overall inefficiencies still present in the broker sector. Working tirelessly to overcome these has led to progressive initiatives by the brokerage, including the development of its underwriting HUB, as well as its efforts to streamline the relationships it’s building with lenders.

“I was drawn to all the things that come with Vine. The leadership that exists at Vine with the founders, as well as the HUB that we have, helps me scale my business” Paul Clara, Vine Group “We’re in the people business; we just happen to do mortgages,” says Vine Group co-founder Hugo Dos Reis. Putting the ‘rate’ conversation to the side, the Vine Group team choose to focus instead on building trust and rapport with their clients. After all, they say, it’s the client that the mortgage process rests on, and this should be reflected in an ‘advice-based’ approach. “It’s not the interest rate you get that

“We’re trying to make the transition for our brokers from the banking world to the broker world with the introduction of the HUB more efficient,” Dos Reis says. Another path to reducing inefficiencies in the broker space, according to Vine Group, is focusing on the mortgage conversation. The lines of communication can often be given inadequate attention when the focus of each mortgage file becomes

MEET THE BROKERS Paul Clara Mortgage agent, Ontario As a mortgage professional of 15-plus years, including his most recent years at Vine Group – Mortgage Alliance, Paul Clara specializes in mortgage financing in the self-employed sector for clients that have small to large corporations with complicated tax filings, as well as complex transactions with multiple investment properties. The first-time homebuyers’ market has always been a significant part of Clara’s clientele. He focuses on not only walking them through the biggest purchase of their lives but also on taking the opportunity to educate his clients on how to prepare for their next purchase and build wealth by becoming real estate investors.

Preet Singh Mortgage associate, Alberta For the last 16 years in the mortgage business, Preet Singh’s focus has been on finding and providing lending solutions to first-time homebuyers and new-to-Canada clients, guiding them step by step through their home purchasing journey and connecting them with the right partners across the industry. At the same time, he focuses on providing high credit quality deals to his lending partners, with attention to detail and straightforward, clear communication.

Richard Tartaglia Mortgage agent, Ontario Richard Tartaglia is a detail-focused mortgage advisor who is passionate about real estate financing. His success is attributed to referrals from satisfied clients and a strong focus on being prepared in the ever-changing real estate and lending environment; after all, “success doesn’t just happen, it’s planned for,” he says. Tartaglia joined Vine Group – Mortgage Alliance in January 2017.

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geared towards the best rates. Instead it’s about providing “advice-based mortgage solutions,” Dos Reis says.

Broker perspectives It is Vine Group’s core view of the mortgage process – in contrast to the corporate, ratesdriven mortgage dialogue of the banks – that has led some of the top brokers in the industry through its doors. For mortgage agent Paul Clara, the decision to take the leap into the broker space and join Vine Group was an obvious one. “Clients want solutions,” he says. “They feel much more comfortable dealing with you than shopping the rest of the market, because you [the broker] have the rest of the market, and they don’t really need to go anywhere else.” Vine Group mortgage agent Richard Tartaglia adds that the brokerage’s culture was a big draw when he jumped ship from the banking world. “Vine Group’s culture was very relaxed. For me, it was a good cultural fit. I had very good mentors.” Mortgage associate Preet Singh was drawn to the brokerage for similar reasons. “I was looking for the support system that

“When I was leaving the bank, I interviewed almost every brokerage in the city. Vine Group was the largest team in Canada, and I was leaving the largest bank in Canada, so I wanted to make sure I was lending in the largest mortgage team in Canada,” Clara says. “I was also drawn to all the things that come with Vine. The leadership that exists

“Looking ahead three to five years, we would like to see one in 10 Canadians getting their mortgage from Vine Group” Hugo Dos Reis, Vine Group I had at TD and Bank of Montreal. A mortgage rep introduced me to Vine. When I started to get to know more about Vine, I felt that I would fit in very easily,” Singh says. “[What drew me to them was] Vine’s qualities such as ethics and professionalism. The biggest thing for me that clicked was that 90% of the brokers at Vine were former bankers,” he adds. Clara’s decision to join Vine Group also rested on the brokerage’s reputation and professionalism.

at Vine with the founding partners, as well as the HUB that we have, helps me scale my business.”

Broker efficiency The mortgage process is complex and requires the marriage of many elements. For brokers, the document submission process can be a drawn-out affair, cutting into the time they can spend with clients. Vine Group’s HUB – its centralized documentation and fulfillment system –consists

of a talented group of top mortgage underwriters designed to help brokers free up time to devote to what matters most: the clients. For Vine Group’s brokers, the HUB can lift some of this submission burden off their shoulders. “The HUB simplifies the experience. It also allows you to be very customizable in your approach. There is a framework within the HUB, and it’s a very efficient framework. Once you understated that framework, you can use it to make things very efficient,” Tartaglia explains. Singh adds that “the HUB simplifies the process and allows the collection of all the documents up front. The HUB provides a second set of eyes for the documents.”

Broker outlook Looking ahead, Vine Group has its sights set on further growth, capitalizing on the client appetite for the broker space. “Looking ahead three to five years, we would like to see one in 10 Canadians getting their mortgage from Vine Group,” Dos Reis says. With the broker space growing every year, Vine Group has positioned itself well to meet such impressive goals.

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SPECIAL PROMOTIONAL FEATURE

BROKER NETWORKS

Stability and value remain key for CENTUM The company’s longevity and value proposition are as important as ever as it prepares for its 20th anniversary

AS BROKER network powerhouse CENTUM prepares to celebrate its 20th anniversary this year, it’s doubling down on the two core values that its president, Chris Turcotte, says have been mainstays of its success over the decades: stability and value. It’s clear the network is going from strength to strength on the stability front. While CENTUM doesn’t shout it from the rooftops, it is part of the team at real estate giant Charlwood Pacific Group, a renowned company with over 22,000 system members and an enormous global footprint. CENTUM’s status as a member of that group – which also includes Century 21 Canada and Asia Pacific, Real Property Management (RPM), and Uniglobe Travel International – has given it an invaluable edge in the network space, Turcotte tells CMP. “Being part of a private family-owned company that’s operated for more than 40 years and has such an amazing record of success has been crucial to our growth as an option for brokers and agents who want to take their business to the next level,” he says. “It’s a highly integrated company, owning brands that allow it to buy and sell real

estate [Century 21], finance and refinance it [CENTUM], and manage those assets [RPM]. That’s proven a winning combination, especially with that level of integration providing “multiple revenue opportunities” to brokers and agents, according to Turcotte. The integration aspect is something the company is constantly working to refine, and soon every CENTUM agent’s brokerage

without a strong, clear value proposition – and that’s something Turcotte could talk about for days. Central to CENTUM’s value proposition is a flat-fee model, somewhat unusual among Canada’s network giants, that offers two separate solutions. One of these, which is for licensed brokers who operate their own brokerages, is available from Centum

“Being part of a private family-owned company that’s operated for more than 40 years and has such an amazing record of success has been crucial to our growth” Chris Turcotte, CENTUM will have a website partnered with Mello Insurance that will allow agents and brokers to provide insurance to their clients immediately, saving the client a trip to the insurance company and a hunt for the right deal. Of course, longevity and an established presence in the mortgage space are nothing

Financial Group for a monthly fee of $850 plus GST. The other allows top-producing agents or teams who want more independence to operate under the corporate broker licence of CENTUM Financial Services. “The second is a great solution for those who want to run their own shop but don’t

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have the capacity, time or desire to get their DI licence,” Turcotte explains. “They can market themselves to the full extent that their provincial regulations allow.” CENTUM handles all compliance for those agents and teams, with that option available for a fee of $1,000 per month. Technology is also a focal point of CENTUM’s value in the broker space, with the company styling itself as “100% agnostic” on the tech front – meaning agents are free to use whichever technology best fits their needs. CENTUM’s tech stack is a comprehensive one, featuring a resources centre, a marketing

centre (where agents can request custom marketing), a deal management system, a deal origination system, and a range of other tools in a branded ecosystem called Piper. In terms of marketing support, CENTUM provides up to 20 social media posts per month for its agents – not to mention other print and online assets. It also has what Turcotte describes as “essentially a free digital graphic design agency for each CENTUM agent,” with a marketing team allowing agents to request unlimited custom content – often based on their own ideas – at no extra cost.

Perhaps it’s little surprise then, given its focus on those key pillars, that CENTUM came away with the National Broker Network of the Year award at last year’s Canadian Mortgage Awards, a prize that reaffirmed the success and viability of its operating model. As it sets its sights on the future, CENTUM is eager to speak with any agent or broker who may be contemplating a change of scenery, Turcotte says. “I’m happy to talk to anyone who wants to look at a change. It costs you nothing just to find out more info. We’re always willing to have that first conversation.”

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SPECIAL REPORT

2022

MORTGAGE EMPLOYERS Twenty-eight companies have successfully helped their employees navigate a competitive industry landscape

CONTENTS

PAGE

Feature article .............................................. 26 Methodology ................................................ 27 5-Star Mortgage Employers ....................... 30

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SPECIAL REPORT BUSINESS STRATEGY

5-STAR MORTGAGE EMPLOYERS

CHANGING THE COMPANY CULTURE MORTGAGE professionals are more than familiar with the pressures that have come into play during the drawn-out COVID-19 pandemic. Adding the dizzying pace of the Canadian mortgage and real estate market into the equation has resulted in a very high volume of business for mortgage companies across the country. Under these heightened conditions, it is an impressive accomplishment for a mortgage brokerage to be recognized not only for facing these challenges head-on, but also for ensuring that the working climate for its valued brokers remains a supportive environment.

“[Brokers] are going to need the support to continue to balance life with work. This has been a very challenging market” Rakhee Dhingra, Mortgage Savvy It is for this reason that Canadian Mortgage Professional is proud to present the 5-Star Mortgage Employers for 2022. The brokerages on this list have taken steps to directly apply feedback from their employees, propelling them to the top of the industry.

WINNERS BY COMPANY SIZE 1–25 employees 5 26–100 employees 12 101–500 employees 7 501+ employees 4

The size of companies represented in the survey ranged from 1–25 employees to 500+, with 43% of the brokerages having 26–100 employees. Among the respondents, 50% were classified as brokerages, 36% were lenders, and the rest are in the technology, network, or ‘other’ categories. This year’s 5-Star winners gained high scores for putting the working environment front and centre, in what can only be characterized as extraordinary times, by focusing on what is best for brokers and, by extension, the clients they serve. As the survey showed, the winners made work-life balance, benefits and bonus compensation, a supportive working atmosphere, and a productive work culture their top priorities.

Broader economic factors A host of factors over the second half of 2021 and the first quarter of 2022 have led to a pronounced increase in the number of mortgage applications landing on brokers’ desks. Continued historically low interest rates, a distinct housing inventory shortage, and

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property appreciation in the double-digit territory in some of Canada’s hottest housing markets have escalated the demand for brokerage services. The robust mortgage space has also added considerable strain to the working environment for brokers across the country. Mortgage applications have had to be processed quickly to match the pace at which properties are being snapped up, often with multiple bids and no contingencies. It is not just new mortgage applications that have kept brokers working longer hours. With an abundance of newfound equity within homeowners’ reach, many borrowers are looking to tap into their substantial equity to take out second mortgage options for a host of financial reasons ranging from home renovations to helping their family buy into the attractive Canadian housing market. Such continued frenzied activity in the mortgage space well into 2022 will likely not slow down any time soon. This remains likely even when factoring in the recent announcements of a quarter of a percent rise in the Bank of Canada’s overnight lending rate, with more rate increases anticipated to follow, directly impacting variable rate mortgage loans.

Keeping employees happy Given the extraordinary demands that a red-hot real estate market and a prolonged pandemic has put on mortgage professionals, this year’s winning companies have launched initiatives to help their employees ride the mortgage wave. All of the employers cited a supportive company culture as the top item on their agenda to ensure happiness and productivity among their staff. “Our culture is literally everything here at Home Trust. Our core home values guide all our decisions, both internally and externally with our partners and customers,” says Ed Karthaus, executive vice president of residential lending, credit cards, and marketing. “We focus heavily on ensuring that we manage and protect our culture carefully.” Pointing towards a host of initiatives to foster the company culture Home Trust is so proud of, he says: “We do employee engagement and what we call ‘pulse surveys’ regularly to solicit employee feedback. We conduct sessions to share employee engagement, [and to] gauge and share employee sentiment to make Home Trust an even better place to work.” Rakhee Dhingra, CEO at Mortgage Savvy and another 5-Star Mortgage Employer,

To help recognize and narrow down the nominations for the 5-Star Mortgage Employers 2022 in Canada, CMP invited organizations to fill out an employer form highlighting their various offerings and practices. Employees of the nominated companies were then asked to take an anonymous survey evaluating their workplace based on factors such as job satisfaction, bonus and incentive programs, career development opportunities, and commitment to diversity and inclusion. To qualify, each company had to meet a minimum number of employee responses based on the overall size of the organization. To be named 5-Star Mortgage Employers, the overall satisfaction rate needed to be 80% or higher.

97% of respondents say they are satisfied with the culture of their workplace

86%

COMPENSATION AND INCENTIVES AT THE 5-STAR MORTGAGE EMPLOYERS

of respondents say they are satisfied with the flexible work options offered by their organization

Does your organization offer any bonus or incentive programs? YES

METHODOLOGY

10–25 employees 93%

26–100 employees 79%

21%

84% of respondents say they are satisfied with their overall compensation

101–500 employees 100% 501+ employees 100%

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SPECIAL REPORT BUSINESS STRATEGY

5-STAR MORTGAGE EMPLOYERS

WINNERS BY COMPANY TYPE Brokerage 15 Lender 10 Network 1 Technology 2

agrees with Karthaus’ view when asked to describe the importance of company culture and employee wellbeing. “I’m always making sure that I’m accessible to my team and ensuring that I’m available to answer calls, provide support, and step in where I need to leverage my relationships with lenders to provide the support that they need to be able to meet their clients’

expectations,” Dhingra says. Adding support staff to help Mortgage Savvy’s brokers through endless hours of work in such a busy market has also been a top priority. “[Brokers] are going to need the support to continue to balance life with work. This has been a very challenging market. We really haven’t had a break,” she says.

RETIREMENT PLANS AT THE 5-STAR MORTGAGE EMPLOYERS Does your organization offer an employee retirement plan? YES

10–25 employees 14.29%

78.57%

26–100 employees 14.29%

78.57%

101–500 employees 50%

50%

501+ employees

For Laura Martin, COO and broker at Matrix Mortgage Global and host of the Broker’s Playbook podcast, as well as one of this year’s winners, the key to employee success and wellbeing is how an employer structures the work environment. “It’s the infrastructure for success that matters,” Martin says. “This can’t happen unless the brokerage is willing to invest in people that can provide administrative support, provide marketing support, provide tech support and provide underwriting support.” By cutting down on the actual additional work that falls on the shoulders of Matrix Mortgage Global brokers, each broker can focus on getting down to the nuts and bolts of each mortgage file and, more importantly, assisting the client. Not only is the job simplified, but the support that is offered creates a much more productive work environment for the brokers, Martin further explains.

Mental and physical wellbeing Beyond generous benefits packages and employee incentives, all CMP winners highlighted the mental and physical wellbeing of their employees as integral to overall employee happiness and success. “We laugh a lot, and we are real,” Martin says. Focusing on a hybrid model, despite many brokers’ return to the office, has been the key to employee success for Jencor Mortgage Corporation. “We say if you need a little break, you can work from home, be it a couple of days, maybe even a week, to be in an environment to help pull yourself together,” says Karen Penner, sales coordinator at Jencor. She points out that another simple and effective solution is having a healthy benefits package in place and understanding the pressures that the current market puts on brokers. Martin adds: “We work close to a park, so that is always nice. That’s where I go for a walk almost every day. We can all go for a walk down the hill.”

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DIVERSITY AT THE 5-STAR MORTGAGE EMPLOYERS Does your organization offer any programs aimed at recruiting and/or retaining women, individuals from minority groups, persons with disabilities and/or LGBTIQQ individuals? YES

EMPLOYEE DEVELOPMENT AT THE 5-STAR MORTGAGE EMPLOYERS Does your organization offer work path/career path plans or programs? YES

10–25 employees 57%

43%

14%

26–100 employees 57%

43%

10–25 employees

101–500 employees 75%

25%

86%

501+ employees 75%

25%

“Our core home values guide all our decisions, both internally and externally with our partners and customers”

43%

26–100 employees

57%

Ed Karthaus, Home Trust

TOP 10 MOST IMPORTANT FACTORS TO EMPLOYEES

25%

Flexible work options 4.66

Bonus/incentive programs

101–500 employees

4.64

Employee recognition programs 4.35

75%

Employee team building 4.32

Dental coverage 4.29

Medical coverage 4.27

Vision coverage 4.18

Company supporting community/charitable organizations 4.15

Retirement plan

50%

500+ employees

50%

4.07

Performance reviews 4.06

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SPECIAL REPORT BUSINESS STRATEGY

5-STAR MORTGAGE EMPLOYERS

MORTGAGE 2022 EMPLOYERS 501+ EMPLOYEES

101–500 EMPLOYEES

First National Financial LP

HomeEquity Bank

Home Trust Company

Phone: 416 925 4757 Email: marketingrequests@heb.ca Website: chipadvisor.ca

MCAP Bridgewater Bank TMG The Mortgage Group Elite Lending

26–100 EMPLOYEES MCAN Mortgage CMI Financial Group Phone: +1 888 465 1432 Email: info@thecmigroup.ca Website: canadianlending.ca/brokers Blue Pearl Mortgage Group

Tango Financial True North Mortgage Matrix Mortgage Global

Calvert Home Mortgage Investment Edison Financial

1–25 EMPLOYEES

Fundmore.ai Mortgage District Jencor Mortgage Corporation Lendesk Technologies ULC

Mortgage Outlet

Marathon Mortgage Mortgage Scout Sherwood Mortgage Group

Mortgage Savvy

Verico Financial Group

Tribe Financial Group Verico Xeva Mortgage

VWR Capital

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Reach out to your sales representative today or visit equitablebank.ca.

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SPECIAL PROMOTIONAL FEATURE

LENDING SOLUTIONS

Revolutionize lending? Challenge accepted Equitable Bank has cemented its place as a leading Canadian lender with a challenger mindset, says associate vice president, national partner relations Joe Flor

WHEN YOUR mission is to be Canada’s Challenger Bank™, you have a tall order to fill. Founded over 50 years ago, Equitable Bank offers a growing diversified suite of alternative single-family lending, reverse mortgage lending, and commercial loan products that cater to clients from all walks of life, with a clear mandate to drive change in Canadian banking to enrich people’s lives. After a record performance in 2021, the company recently announced it had entered into a definitive agreement to acquire Concentra Bank, in a bold move to add scale that will translate into accelerated investment in its core businesses. The acquisition is expected to close in the second half of 2022. Equitable approaches its mission with no-nonsense banking and underwriting practices that put brokers and their clients first. It also leverages an agile, branchless advantage by homing in on profitable niches, offering more products with greater flexibility, and exploring new ways to challenge the status quo – all delivered with exceptional service. On the residential lending side, Equitable tailors both prime and alternative mortgage solutions to the specific needs of clients, no matter their background. Unlike traditional lenders, Equitable’s product range has flexible options to fit any circumstance,

from those who suffer from bruised credit to newcomers to Canada and the self-employed. Joe Flor, Equitable’s associate vice president, national partner relations, says the contribution that brokers make is key to driving growth. “Our goal is to live and breathe the challenger mindset to improve efficiencies and enable a seamless experience for our brokers. We genuinely want to make a positive differ-

ultimately close more deals, faster. The company recently launched a new broker portal, Equitable Connect, to centralize communication between brokers and the bank, and make deal submission and tracking faster and easier. Reverse mortgages remain a top growth priority for the bank, and Equitable has seen big gains over the past year. While market conditions and a continuing trend of aging in

“Expanding product offerings like the higher LTV option for borrowers, maintaining our unique lower-cost/ lower-LTV product, and consistently offering the lowest rates are a winning combination” Paul von Martels, Equitable Bank ence to the Canadian banking industry. That’s why our products cater to all credit profiles and empower brokers to help more clients.” To improve the broker experience, Equitable invests in technologies designed to help brokers do their job efficiently, and

place have played a role, Paul von Martels, vice president of reverse mortgage lending, says the bank’s commitment to providing great products, exceptional value to borrowers, and excellent service to brokers is the star here.

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“Our reverse mortgage team takes Equitable’s challenger mindset to heart,” says von Martels. “In 2021, we challenged industry standards for both borrowers and brokers, and we continue to push in 2022. Expanding product offerings like the higher LTV option for borrowers, maintaining our unique lower-cost/lower LTV product, and consistently offering the lowest rates are a winning combination.” In commercial lending, Equitable’s Business Enterprise Solutions (BES) proudly supports small business owners and real estate investors with creative and flexible financing options. Whether through a conventional mortgage or a Commercial Equity Line of Credit (CELOC), small business owners can own a commercial property, leverage a CELOC to expand their business, or acquire investment properties to build income. Jay Blachford, managing director of

“Our goal is to live and breathe the challenger mindset to improve efficiencies and enable a seamless experience for our brokers. We genuinely want to make a positive difference to the Canadian banking industry” Joe Flor, Equitable Bank commercial originations, says Equitable is people-focused at its heart. “We do everything we can to support our brokers and help them grow their business by giving them the right tools, knowledge and resources to market a commercial offering,” said Blachford. Throughout the COVID-19 pandemic, Equitable’s broker partners proved resilient,

inspiring the bank to respond in kind. It prioritized digital tools, while maintaining an emphasis on relationship-building. As a result, lending teams have never felt more connected to brokers. As the pandemic recedes, Equitable Bank is on more solid ground than ever, a testament to the importance it places on driving change and enriching lives.

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SPECIAL PROMOTIONAL FEATURE

CONTRACT RATE MORTGAGES

New route to higher borrowing power

“If you’re not a federally regulated financial institution, there are things you can still do to help the customer,” he adds. “Contract rate lenders may allow for lower Beacon scores, wider GDS/TDS allowance, and different types of income verification to qualify. We can provide borrowers different mortgage borrowing options that may not just be about the best rate but about the best rate for them.”

It’s all about understanding the product, he explains. “If you complicate things, you will lose people’s attention very quickly. We [NPX] have simplified the kinds of programs and the requirements for our customers.” To help bring NPX product offerings to the mainstream, DeVries says the company has brought in experts to help with promotion. NPX expanded its offering beyond Ontario to British Columbia in 2021. And with further marketing initiatives firmly in place, DeVries is ready to “take this solution a little wider across Western Canada.” He says one such product offering that is promoted within the NPX lending line-up is a contract rate mortgage. “For stress tests qualification, the actual rate of interest applied to a borrower looking for a mortgage is not the actual rate being used to qualify them for that same mortgage. The stress test rate is 2% higher in most cases than the actual contract rate,” DeVries explains. That’s why, when qualifying for a contract rate mortgage, while the rate may appear higher than what the banks may be advertising, the mortgage rate is the same rate that is used to calculate the mortgage payments. “We qualify at the contract rate, not the stress test rate,” DeVries says. Although this rate may seem higher, borrowers will have higher purchasing power by negotiating a contract rate mortgage than with products from traditional A lenders (banks). “Don’t think about best rate, but what rate best fits what you require,” he says. “With NPX, under our XTend, XTend+ and eXact products, what you see is what you get. When NPX offers to give you 3.9%, that is what we are going to qualify you at. That is how we are going to determine how much mortgage you can qualify for, which in turn lets you know how much house you can buy.”

Contract rate mortgage options

An alternative route

DeVries is excited about heading a new product division, NPX, that can offer borrowers different lending options. NPX was introduced within the last four years under the umbrella of MERIX Financial. “In the last year we have grown NPX over 200%,” DeVries says.

With house prices skyrocketing and banks clamping down on mortgage eligibility, a new lending route is opening for many. “This is not an exclusive club. We can help the average family,” DeVries says. “It’s the way lending used to be before stress test regulation.”

As banks’ mortgage stress tests squeeze out borrowers, MERIX Financial’s contract rate mortgages are filling the gap, says Bryan DeVries IT’S BEEN five years now since the Office of the Superintendent of Financial Institutions cracked down on the borrowing criteria to be approved for a traditional mortgage loan. Fearful that borrowers were at risk of overleveraging, banks began to put borrowers through mortgage stress tests in 2017. These tests have acted as a financial barometer to measure a borrower’s ability to pay monthly mortgage and housing-related payments, as well as any other monthly liabilities, in the

flexibility to negotiate alternative loan solutions using creative loan arrangements, including contract rate mortgage options and 40-year fixed mortgage options, as well as investment property programs at competitive interest rates and pricing. “When the government became concerned about how fast real estate prices were going up in Canada and overleveraging, they put in a lot of rules and regulations to regulate banks,” DeVries says.

“Don’t think about best rate, but what rate best fits what you require” Bryan DeVries, MERIX Financial event of potential mortgage rate increases over the course of the loan. They were introduced in a financial climate that routinely saw excessive borrowing in a low-rate environment. The government stepped in to try to curb some of the risks of possible mortgage default on a large scale if rates were to rise by as little as 2% beyond the negotiated rates on existing loans. The stringent bank criteria used to rein in borrowers despite deceptively low current mortgage rates signalled good news for alternative A lenders. These lenders were given a golden opportunity to step in and fill the lending gap that the banks left wide open. As Bryan DeVries, senior vice president, alternative lending, NPX at MERIX Financial, points out, alternative A lenders have the

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Merix Financial

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SPECIAL PROMOTIONAL FEATURE

UNDERWRITING

Taking service to the next level Home Trust’s new EVP for underwriting, Brian Leland, believes that starting each deal with a positive and winning attitude is key

IT’S BEEN said that service is not what you do but who you are – and no one embodies that more than Brian Leland, Home Trust’s new executive vice president for underwriting. An industry veteran with two decades of mortgage leadership experience, Leland is on a mission to extend the service mantra across his new team and take Home Trust’s broker relationships to the next level.

Building a strong reputation in the mortgage industry Leland was initially drawn to the industry because it allowed him to combine his technical inclinations with “the social and relational aspects of mortgage lending, being a perfect blend of where my interests and passions lie.” He began his mortgage career at Home Trust in 2002, starting on the underwriting side of the business before taking on the role of one of the company’s first business development managers. “At the time we were growing very quickly, and when a business development team was being created, I was provided with the opportunity to be one of our first BDMs,” he says. After several years at Home Trust, Leland left the company to take on a range of increasingly progressive underwriting and business development leadership roles at another lender. However, Home Trust’s rapid growth didn’t escape his notice. “Home Trust is a pioneer in the alternative lending space,” he says. “From the outside looking in, I was impressed. I think it’s just

amazing to see such astounding growth from both an origination standpoint and a product offering standpoint.” Leland also sees Home Trust’s growth as mirroring that of the broker channel. “The number of brokers today versus 20 years ago, or 10 years ago, or even five years ago, is astounding,” he says. “And I think as there’s more and more competition within the broker community, it creates a bit more of a challenge for brokers to know how to

Home Trust was leading other alternative lenders in appreciating that sense of urgency, Leland believes it’s vital to continue to view service as a calling and to be “wired in” to what brokers need. “You know, we can’t be everything to every single broker,” says Leland, recognizing that brokers also play a role in the delivery of great service, from submitting a complete file up front, to timely sign-backs on commitments, to uploading required docs. “But I think that

“Home Trust is a pioneer in the alternative lending space. I think it’s just amazing to see such astounding growth from both an origination standpoint and a product offering standpoint” Brian Leland, Home Trust differentiate themselves to really drive the value proposition to their potential customers.”

Underwriting as a calling Leland has rejoined Home Trust at a time when underwriters are increasingly expected to have a greater sense of urgency in servicing brokers. In fact, a recent survey of mortgage brokers and agents conducted by loyalty analytics agency Bond Brand Loyalty found that providing resolutions within a reasonable time frame is one of the highest drivers of a lender’s net promoter score. And while the survey also revealed that

being wired in to knowing what our brokers’ needs are to help speed up service and delivery is really powerful.” Leland acknowledges that strong analytical skills related to “evaluating the five Cs of credit” are still important foundations of a good underwriter. However, he also stresses the importance of blending these technical skills with “strong real estate market knowledge and the ability to have a positive influence on brokers and borrowers through the power of conversation and negotiation.” “I often say to young underwriters and mortgage officers starting out that I think the

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best approach is to think about service as doing everything you can to leave an impression with a broker that makes them want to call you on their next deal,” says Leland. “Whether it’s a yes or no, it’s important to shape yourself in a way that makes brokers gravitate toward wanting to pick up the phone and call you.” Leland also emphasizes the value of underwriters having a strong relationship with their BDMs. “The interesting thing about the dynamic between sales and underwriting is that while each has a different role, each function requires the other to be successful,” says Leland. “The way I think about it is, without a sales team working relationships and driving business into the shop, underwriters have no deals. And in the absence of deals, underwriting serves very little function. Conversely, sales needs underwriting to perpetuate the service mantra throughout the deal life cycle.” As for his leadership style, Leland says he is

“big on trust,” explaining that people “have to know and feel as though they’re trusted when doing what they’re doing.”

Strengthening the commitment to quality servicing To show his personal commitment to Home Trust’s broker partners, Leland spent his first few weeks on the job meeting with them across Canada. “There’s nothing better than boots on the ground and breaking bread with our broker partners,” he says. “It was an opportunity to get to know the brokers and show gratitude for their continued support and trust in us, as well as to solicit feedback.” And from their feedback Leland discovered that one of the most important things brokers are looking for is responsiveness. “I want us to be best in class in responsiveness and being as consistent as possible in a field where it’s not always easy, because

every deal is different,” he says, adding that Home Trust’s core value of ‘say yes first’ can strengthen this commitment to quality servicing in a way that is different from other lenders. “ ‘Say yes first’ doesn’t mean ‘do the wrong deals.’ It means we start with a positive and winning attitude,” says Leland. “We may well work ourselves down the path of not being able to do it, but we approach every deal with the mindset that we can do it versus that we can’t do it.” As for the future, Leland believes Home Trust is in a very strong position “with a strong balance sheet and loads of opportunity and potential in front of us.” “My dream for Home Trust is that we execute on strategic goals and continue to have a talented and engaged workforce that is excited to contribute every day,” he says. Ready to partner with Home Trust? Visit hometrust.ca/brokerlogin to learn more.

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SPECIAL PROMOTIONAL FEATURE

BROKER NETWORKS

M3 set to accelerate growth in 2022 The broker network has its sights set on doubling the remarkable growth of its business in recent years AFTER A groundbreaking year in 2021, the M3 Group is setting its sights on an equally seismic 2022 as it enters the first year of its ambitious new strategic plan aimed at doubling the size of an organization that’s already a giant among Canada’s broker networks. Technology is, unsurprisingly, at the forefront of M3’s approach to the year ahead, says chairman and CEO Luc Bernard, as the company continues its focus on halving the time it takes to process a mortgage transaction. “We’ll be announcing a lot of changes and improvements to our platform, always with one thing in mind – which is serving our brokers well,” he tells CMP.

“We’re receiving great feedback from the brokers about the fact that the MyClosing platform, for instance, is fully integrated with the BOSS platform,” Bernard says. Dino Di Pancrazio, M3’s chief strategy officer and head of mortgage operations, says the company had been planning ahead for a market slowdown this year, equipping brokers with the tools to continue generating strong business in the event of an inevitable cooldown. “The acquisition of Pinch Financial was in preparation for 2022, which we had foreseen was going to see a market slowdown, and [which would mean] we wouldn’t have as strong a tailwind as we’ve had in the

“You always have to be looking ahead to see what’s coming and how we impact our brokers’ workdays in a positive way” Dino Di Pancrazio, M3 M3 invested heavily in simplifying the mortgage process for all parties last year, acquiring Pinch Financial and its digital mortgage platform in mid-2021 in a move that allows leads to arrive in brokers’ hands fully verified and with completed applications. It also announced a partnership with real estate conveyancing firm MyClosing, whose software enables brokers to submit and close files in a process that links all parties throughout. M3’s embrace of open platforms, Bernard says, has already proven a hit with brokers, allowing them to streamline and improve efficiency in managing their daily workload.

last few years,” he explains. “We’ve been doing a lot of this prep work for the last 18 months, if not longer. We’re preparing not only for what we’re executing in 2022, but also in 2023. That’s important because you always have to be looking further ahead to see what’s coming and how we impact our brokers’ workdays in a positive way.” Di Pancrazio describes M3’s ethos as a “best-of-breed” approach aimed at optimizing its platform for brokers and agents with a full commitment to the open platform model and the introduction of new integrations through BOSS. Other partnerships that will be central

to M3’s progress in 2022 include one with National Bank, an integration between the M3 platform and the banking giant’s brand that Bernard says the company is “proud of.” It’s also launched a partnership with training firm HORN Sales and Leadership Development, with M3 currently piloting a three-pronged approach to training: the first for new brokers, the second for experienced brokers, and the third for team leaders. That content is “hitting the sweet spot,” Di Pancrazio says, with HORN having spent six months developing its program in collaboration with M3 to deliver extra value to brokers and agents within the network. Last year’s investment in M3 by global investment group Caisse de dépôt et placement du Québec (CDPQ) will also drive significant advancements on the tech front – through both its financial firepower and its access to other mortgage markets. “La Caisse is increasing our access to cheap capital, but there’s also a lot of knowledge that’s been exchanged between them and us in terms of tech development and things like that,” Bernard says. “They have significant investment in organizations like ours in the broker space in Europe, so we’re already in touch with those and using information or processes that could be applied in our environment.” It’s no shock that M3 is keen, as always, to speak with innovators in the tech space who are seeking a partnership that can drive growth on both sides. “If somebody has a good idea about transforming the ecosystem, please come knock on our door,” Bernard says. “We have the capital to fuel their growth or make space for them within the M3 Group.”

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Powerhouse Mortgage Group partners with Caisse de Dépôt to accelerate expansion Investment to set brokers up for success! www.m3-grp.com

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SPECIAL PROMOTIONAL FEATURE

REAL ESTATE INVESTMENT

Inside the launch of MCAN Home Avish Buck, president at MCAN Home, talks CMP through the company’s rebrand

ment with their needs and goals. Our people can decide what works for them,” he says. “Some have moved, travelled, or made lifestyle changes based on this new ‘normal’ that we all find ourselves living in. Our team is empowered to reframe it for themselves.” That flexibility reinforces MCAN’s reputation as an outstanding workplace, Buck says; it was recently recognized for diversity in leadership and certified as a Great Place to Work.

Focus on people AN EXCITING rebrand to MCAN Home Mortgage Corporation from XMC Mortgage Corporation marks the next step in the evolution of MCAN Financial Group, a Canadian real estate investment company formerly known as MCAN Mortgage Corporation. CMP sat down with Avish Buck, who last month stepped into the role of senior vice president and chief operating officer at MCAN Financial Group, in addition to his role as president at MCAN Home. Change comes at a pivotal moment for the mortgage investment corporation, according to Buck, who points to strategic opportunities and brand unification as key motivators. “Our success building this platform is the foundation for the growth of the rest of our

and two oversubscribed rights offerings. This new identity better reflects the evolution of the business into multiple investment channels across Canadian real estate, Buck says.

Bringing it home What’s in the new name? Buck says MCAN Home was chosen because of the company’s belief that stories begin at home. This is central to the way it does business, with a focus on people and relationships. “We’re a diverse team with unique experiences and stories. That manifests in the empathy with which we approach every deal. There are real people on the other end of every application,” he says.

“Our success building this platform is the foundation for the growth of the rest of our assets. This brings it all together” Avish Buck, MCAN Home assets,” he says. “This brings it all together. One brand fuelled by the culture, history and purpose of an established parent company experiencing significant growth at all levels.” MCAN was founded in 1991 and listed on the Toronto Stock Exchange in 1992. The XMC brand began in 2013 and originated its own mortgages under that label after acquiring XCEED. The company quickly built a trusted network of mortgage brokers and gained market share with a 50% year-over-year increase in total originations in 2021. MCAN’s historical financial results show an increase in total assets of 40% year-over-year, a 14% average return on equity from 2012 to 2021,

“We’ve designed our processes, infrastructure, products, and programs to serve the changing needs of our partners and clients. We’re helping them tell their stories and achieve their goals.”

Culture to the fore MCAN Home will continue its strong focus on company culture. Buck confirms that, having operated entirely remotely for two years, the business plans to keep to its hybrid model as Canada begins to emerge from the COVID-19 pandemic. “It’s an extension of our belief in the importance of providing solutions for people in align-

Buck emphasizes that nothing about how the company does business with its partner brokers has changed. Excellence in service remains the highest of priorities. “For us, the best experiences are driven by collaboration. We have an incredibly deep bench – the best in the business – designing the best mortgage solution for every client. They do that working closely with the broker.” Those strong relationships built on trust and partnership are what Buck points to as key differentiators for MCAN. “We’re an on-balance-sheet lender. That means our partner brokers don’t have to worry about which way the winds blow,” Buck points out. “We’re prudent, consistent, and transparent with our guidelines. Stability matters in uncertain times.” The company just launched a new role in broker relations dedicated to helping brokers package deals to get approved and funded, and ultimately help clients. An expanded partner program reflects its “holistic” approach, Buck says, and includes free mortgage payments and charitable tie-ins. MCAN recently unveiled its Titan broker portal, developed through discovery sessions and testing with partner brokers. “It’s an important part of our continuous improvements in systems and process that make everyone more efficient,” Buck says. The portal will enhance deal communications and pipeline management in real time to help brokers stay current with their MCAN book of business. It’s clear that, by any name, MCAN remains committed to cultivating an experience for brokers and clients that reflects an organizational passion for excellence and investment in Canadian communities.

CMY

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MCAN Full Page for CMP Magazine APR 2022.pdf 1 2022-03-16 5:05:52 PM

Every story begins at Home Reframing homeownership for Canadians through the design of people-first mortgage solutions in partnership with Canada’s leading mortgage brokers.

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THURSDAY, APRIL 28, 2022 • LIBERTY GRAND, TORONTO The Canadian Mortgage Awards are set to make their return as an in-person event on April 28, with some of the industry’s biggest names vying for the top prizes THE CANADIAN MORTGAGE AWARDS are always one of the most eagerly anticipated events of the year in the mortgage industry – but their 16th annual iteration promises to be extra special. That’s because after two years of being hosted virtually because of the COVID-19 pandemic, the CMAs are finally making their long-awaited return as an in-person event, with the best and brightest of Canada’s mortgage industry set to gather at Toronto’s Liberty Grand on April 28 for the live gala. The event will see the country’s finest brokers, brokerages, lenders, BDMs, underwriters and service providers recognized for their achievements throughout the past 12 months and beyond, with exciting new changes for 2022, like the addition of seven new categories, including the coveted Best Media Campaign of the Year gong. Having received a massive national response to the call for nominations, the Canadian Mortgage Awards team wants to thank all those who submitted entries – not to mention the judges, whose work in selecting the final winners is much appreciated. Winners and Excellence Awardees will be honoured at the live event, hosted in conjunction with event partner the Coalition of Independent Mortgage Brokers of Canada at the end of April. This will be the perfect opportunity for mortgage professionals to toast the sterling work of their colleagues and associates throughout a remarkable year for the industry. CMP and Key Media would also like to extend warm congratulations to each of this year’s Excellence Awardees, who are listed on the following pages.

www.canadianmortgageawards.com

EVENT PARTNER

#MortgageAwardsCA

AWARD SPONSORS

www.canadianmortgageawards.com

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EVENT PARTNER

A MESSAGE FROM OUR EVENT PARTNER THIS YEAR marks the 16th year of the Canadian Mortgage Awards in Canada. The Coalition of Independent Mortgage Brokers of Canada (CIMBC) is proud to once again be the Event Partner for this year’s awards. Although the pandemic over the last couple of years has tested us all in the way we do business, it has also shown the resiliency and adaptivity of the Canadian mortgage broker industry. Canadians have placed their confidence and trust more than ever in the value of choice that mortgage brokers provide them in support of their homeownership and financing needs. We also know that our industry would not be successful without the support, dedication and commitment of our lender partners. At CIMBC, we strongly believe in the value we add to the broker industry through the support we offer our member brokers by interactively contributing to the building of top-shelf distinguishable independent brands within the entire lender community by enhancing relationships. We are committed to assisting with the growth of all of our members’ businesses by offering unique CIMBC membership programs and services that deliver a competitive advantage. CIMBC would like to congratulate all the mortgage broker and lender award nominees, and we look forward to joining you at the CMAs on April 28, where we honour the exemplars in the mortgage industry.

OFFICIAL MEDIA

ORGANIZER

John Bargis President and CEO, CIMBC

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THE AVISON YOUNG AWARD FOR BROKER OF THE YEAR COMMERCIAL

THE COMMUNITY TRUST AWARD FOR ALTERNATIVE BROKER SPECIALIST OF THE YEAR

 A hmed Hatata, Green Mortgage Solutions Inc.

 A meera Ameerullah, Canada Mortgage and Financial Group

 A lmira Namvar, Uptown Commercial Mortgages Inc.

 Christine Xu, MoneyBroker Canada

 Anne Ananda, Mortgage Alliance

 D avid Clarke, TMG The Mortgage Group Atlantic

 Jason Sohl, Verico Fair Mortgage Solutions

 Gogi Luthra, AKAL Mortgages Inc.

 Jonathan Gagnon, Orbis Mortgage Group

 Jason Anbara, Mortgage Alliance

 M ichel Durand, MCommercial

 Jason Sohl, Verico Fair Mortgage Solutions Inc.

 M ike Chiu, Capital West Mortgage Inc.

 Jordon Mullen, Mortgage Architects

 P eter McGrath, Axiom Mortgage Solutions

 Kamaljeet Bhumber, Verico Xeva Mortgage

 P ip Dhaliwal, Freedom Capital

 M ax Escrogin, Vine Group – Mortgage Alliance

 S tephanie Kowalew, Effet Papillon Financement  Stephen Thomas, HALO Mortgage Advisory Inc. | TMG Black Capital

 Steve Futyer, TMG The Mortgage Group  Sunny Grewal, Greater Toronto Mortgages

 Tony Maruna , Vine Group – Mortgage Alliance

PROUDLY SPONSORED BY

Avison Young Valuation Services offers a comprehensive range of commercial real estate valuation and consulting services dealing with all property types and sizes. Together with our team, we provide a full-service offering to our clients, ranging from local to multinational organizations. Our principal-led, client-centric approach to doing business means that we are always focused on finding the best solutions for each client’s particular needs.

Community Trust is a flexible alternative to larger, more traditional financial institutions. For over 45 years, we have been working with our valued partners to help Canadians achieve the security of owning their home. We were acquired in 2019 by Questrade Financial Group (QFG), one of Canada’s leading fintech companies, and remain 100% committed to serving the mortgage broker community. We are regulated by the Office of the Superintendent of Financial Institutions (OSFI).

For more information, visit www.avisonyoung.ca

For more information, visit communitytrust.com/better

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EVENT PARTNER

THE EQUITABLE BANK AWARD FOR CANADIAN BROKER OF THE YEAR

TO BE ANNOUNCED ON THE NIGHT… This award is one of the highest accolades offered to an individual in the mortgage industry. The excellence awardees in this category comprise the winners of the following categories:

BROKER OF THE YEAR REGIONAL – AB

       

onnie Trombetta, Paragon Mortgage Inc. B Cory Lewis, Jencor Mortgage Corp. Crystal Mamchur, Flare Mortgage Group Gert Martens, HT Mortgage Group Joshua Tagg, Axiom Mortgage Solutions Kim Nguyen, Vine Group – Mortgage Alliance Renee Huse, Spire Mortgage Team Skye McLean, DLC Mortgage Connection

• Broker of the Year (Regional – AB) • Broker of the Year (Regional – Atlantic) • Broker of the Year (Regional – BC) • Broker of the Year (Regional – ON) • Broker of the Year (Regional – Prairies) • Broker of the Year (Regional – QC)

PROUDLY SPONSORED BY

BROKER OF THE YEAR REGIONAL – ATLANTIC  Clinton Wilkins, CENTUM Home Lenders Ltd.  Cyrus Habibi, MCC Premiere Mortgage Centre  Leslie Penney, East Coast Mortgage Brokers  Robert Jennings, East Coast Mortgage Brokers  Scott Bentley, Premiere Mortgage Centre  Stacey Collett, Verico AMC

BROKER OF THE YEAR REGIONAL – BC Equitable Group Inc, is a growing Canadian financial services business that operates through its wholly owned subsidiary, Equitable Bank. Equitable Bank, Canada’s Challenger Bank™, has grown to become the country’s ninth-largest independent Schedule I bank through its proven branchless approach and customer service focus in providing residential lending, commercial lending and investment solutions to Canadians. For more information, visit equitablebank.ca

 Bernadette Laxamana, Karista Mortgage  Geoff Lee, GLM Mortgage Group | Dominion Lending Centres  Lev Keselman, Peak Mortgage Company  Mackenzie Gartside, Select Mortgage  Sabeena Bubber, Verico Xeva Mortgage  Vu Le, DLC Clear Trust Mortgages

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BROKER OF THE YEAR REGIONAL – PRAIRIES

THE MCAN MORTGAGE CORPORATION AWARD FOR BROKER OF THE YEAR REGIONAL – ON

 Chad Wilson, Axiom Mortgage Solutions  Kent Bittner, Axiom Mortgage Solutions

 Dalia Barsoum, Streetwise Mortgages

 Lisa Gryba, One-Link Mortgage

 H ugo Dos Reis, Vine Group – Mortgage Alliance

 S hawna MacDonald, Verico The Mortgage Associates

 Mark Goode, Mortgage Man DLC

 S hirl Funk, Shirl Funk Mortgages Powered by The Mortgage Centre

 Matthew O’Neil, Axiom Mortgage Solutions

 V iktor Schaefer, VS Solutions – Onelink Mortgage and Financial

 Sadiq Boodoo, Approved Financial Services

 Paul Meredith, CityCan Financial  Shawn Stillman, Mortgage Outlet  Tracy Luciani Price, DLC Forest City Funding

BROKER OF THE YEAR REGIONAL – QC

 Tracy Valko, Valko Financial Ltd

PROUDLY SPONSORED BY

 C hristina Montesano, Orbis Mortgage Group  Hugo Fortier, Consortium Hypothécaire  I sabelle Gendron, CENTUM Boulevard Hypothécaire Inc.  Philippe Béland, Consortium Hypothécaire  Ryan La Haye, Planiprêt  Sammy Hammouda, Orbis Mortgage Group  Sandra Allard, Planiprêt  Terry Kilakos, DLC North East

MCAN Mortgage Corporation (TSX: MKP), a federally regulated mortgage investment corporation, funded by CDIC-eligible term deposits, invests primarily in Canadian single-family and residential construction mortgages. For more information, visit mcanmortgage.com

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EVENT PARTNER

THE CANADIAN MORTGAGES INC. AWARD FOR BROKER OF THE YEAR PRIVATE LENDING

YOUNG ACHIEVER OF THE YEAR

 Araz Khalili, Pineapple

 April Williams, The Mortgage Coach

 Christine Xu, MoneyBroker Canada

 C hantelle Vercammen, TMG The Mortgage Group

 D avid Clarke, TMG The Mortgage Group Atlantic

 Jordan Lee, Vine Group – Mortgage Alliance

 Davinder Powar, AKAL Mortgages Inc.

 Joseph Accardi, Ardent Mortgages Inc.

 Shawn Allen, Matrix Mortgage Global

 Katerina Markevich, IK Financial

 Tim Hurlbut, TNT Mortgages

 Michelle Farrugia, Mortgage Outlet

PROUDLY SPONSORED BY

 M uhammad Aamir Khalique, Dominion Lending Center – Producers West Financial  Pardeep Pabla, AKAL Mortgages Inc.  S tacey Doran, DLC Origin-Doran Finance Group  Steve Dyment, Verico Xeva Mortgage

Canadian Mortgages Inc. has established an industry reputation for transparency, professionalism and always treating our customers and broker partners with the utmost care and respect. Fuelled by innovation, we strive to provide both consumers and mortgage brokers with access to non-bank private mortgage funds. Having successfully funded over $500 million in private mortgages across Canada, we are proud to be one of the country’s fastest-growing alternative lending firms. We pride ourselves on finding a suitable mortgage solution for every borrower. If they don’t qualify for traditional bank financing due to credit issues or non-traditional sources of income, we’ll find a solution that’s tailored to their unique circumstances. For more information, visit canadianlending.ca

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THE CWB OPTIMUM MORTGAGE AWARD FOR BROKERAGE OF THE YEAR (25 EMPLOYEES OR MORE)

THE HOMEEQUITY BANK AWARD FOR NATIONAL BROKER NETWORK OF THE YEAR

 8Twelve Mortgage

 CENTUM Financial Group Inc.

 AKAL Mortgages Inc.

 Dominion Lending Centres

 Axiom Mortgage Solutions

 Invis Mortgage Intelligence

 CanWise Financial

 Mortgage Alliance

 DLC Clear Trust Mortgages

 Mortgage Architects

 DLC Elite Lending Corp.

 Mortgage Centre Canada

 N eighbourhood Dominion Lending Centres

 Pineapple

 Rock Capital Investments Inc.

 Verico Financial Group Inc.

 TMG The Mortgage Group

 T he Mortgage Centre/ Durhammortgage.com Ltd  The Mortgage Coach  True North Mortgage  Valko Financial Ltd  Verico Xeva Mortgage

PROUDLY SPONSORED BY

CWB Optimum Mortgage is a full-service lender providing personalized borrowing solutions to meet your needs. We offer a variety of products, including flexible alternative mortgage solutions, for clients who may not fit within traditional guidelines, including those who are self-employed, commissioned, or with bruised credit.

HomeEquity Bank is the leading provider of reverse mortgages in Canada, dedicated to helping Canadian homeowners 55+ live retirement their way by providing a safe, secure and simple way to access the equity they’ve built up in their homes through financial solutions like the CHIP Reverse Mortgage®, CHIP MAX®, and Income Advantage®.

As industry experts, our policy is always to confirm that you can afford the mortgage first. Our experienced and dedicated team then works hard to find customized solutions for you, while providing exceptional personal service with a common-sense approach.

HomeEquity Bank has helped tens of thousands of Canadians by offering financial solutions designed specifically for homeowners age 55+ so that they can live retirement their way in the home they love. For more information, visit www.chipadvisor.ca

For more information, visit www.optimummortgage.ca

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EVENT PARTNER

BROKERAGE OF THE YEAR (FEWER THAN 25 EMPLOYEES)

DIGITAL INNOVATION IN A BROKERAGE

NEW BROKERAGE OF THE YEAR

 Capital Home Lending

 8 Twelve Mortgage

 C ENTUM One Financial Group Inc.

 Ardent Mortgages Inc.

 C onsortium Hypothécaire

 B lue Pearl Mortgage Group Inc.

 Crete Capital

 D ominion Lending Centres Brokers For Life

 C anWise Financial

 Empire Mortgage Group

 C itadel Mortgages

 Referral Mortgages

 E ast Coast Mortgage Brokers

 S ynergy Mortgage Group

 Homewise

 D ominion Lending Centres Expert Financial

 Jayman Financial

 H omewise

 Karista Mortgage

 P ineapple

 T he Mortgage Minds Inc.

 P laniprêt

 Citadel Mortgages

 Edison Financial

 T he Collective Mortgage Group

 Tango Financial

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THE CIMBC AWARD FOR LENDER BDM OF THE YEAR ALTERNATIVE LENDING

THE CIMBC AWARD FOR LENDER BDM OF THE YEAR PRIVATE LENDING

 Chris Woodhouse, Strive Capital Corporation

 A lissa Lintner, RiverRock Mortgage Investment Corporation

 D ario Carpino Jr., RFA Mortgage Corporation

 Arlen Ekstein, Tembo Financial

 F rancis Massie, Community Trust

 Darren Campbell, Westboro MIC

 Jessica Fitzpatrick, Paradigm Quest

 Francis Lee, Alta West Capital

 K arim Awad, Equitable Bank

 Jerry Wieliczko, Hosper Mortgage

 L aura Cruz, Haventree Bank

 Kyle Williams, First Circle Financial

 M atthew Sherriff, CWB Optimum Mortgage

 R eaza Ali, Fisgard Asset Management Corporation

 N atasha Alli, First National Excalibur

 Daniel Joseph, Canadian Mortgages Inc.

 N athalie Cormier, Equitable Bank  S am Samadi, CMLS Financial  S tephanie Bianco, Home Trust  Vanessa Maglioli, Home Trust  Yvonne Futter, Bridgewater Bank

PROUDLY SPONSORED BY

The Coalition of Independent Mortgage Brokers of Canada (CIMBC) was created to help entrepreneurial brokerages transition to building a genuine independent brand, with a solid structure and a stronger bottom line for the independent, not the network. CIMBC’s main ambition is to create more consistency in the mortgage market, from the initial touchpoint to the application and funding of a mortgage transaction. The coalition works to create more meaningful, mutually beneficial long-term partnerships and to improve profitability for member brokers, their agents, and CIMBC’s lender partners. Being a member of CIMBC gives brokers access to the best comp structure in the industry. The CIMBC model is a unique and truly disruptive model that those seeking to build value for their business and personal brand should explore seriously. For more information, visit www.cimbc.ca

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EVENT PARTNER

LENDER UNDERWRITER OF THE YEAR ALTERNATIVE LENDING

THE CITADEL MORTGAGES AWARD FOR LIFETIME ACHIEVEMENT IN THE MORTGAGE INDUSTRY

 Darren Schienbein, CWB Optimum Mortgage

This award recognizes an individual who has made outstanding contributions to the mortgage industry throughout their career. It acknowledges an individual with an established history of distinguished service to the mortgage profession, who has exhibited leadership and provided inspiration to others while keeping the interests of the profession at the top of their priorities, as evidenced by their accomplishments. There are no excellence awardees for this category. The recipient will be revealed and honoured during the awards show on April 28, 2022.

 Ida Guilbault, Bridgewater Bank  Kara Kinakin, Haventree Bank  Melissa Tagliamonti, Home Trust  Ronelle Landicho, Home Trust  Victor Saade, MCAN  Warda Fatima, First National Financial LP  Zachary Osborne, Paradigm Quest  Zuzi Valente, Equitable Bank

THE MATRIX MORTGAGE GLOBAL AWARD FOR LENDER UNDERWRITER OF THE YEAR PRIVATE LENDING

PROUDLY SPONSORED BY

 Brett Van Driel, Paradigm Quest  Hollie Gardiner, Secure Capital MIC  Josie Milanetti, Canadian Mortgages Inc.  Leah Wilson, VWR Capital Corp PROUDLY SPONSORED BY

Citadel Mortgages is one of the largest full-service mortgage brokerages, with professional mortgage agents and mortgage brokers serving the GTA, Toronto, Ontario, Alberta, Saskatchewan, PEI, Newfoundland, New Brunswick, Nova Scotia, and British Columbia, Canada. We are changing the way mortgages are being done by providing our clients with sound advice and products to help them become mortgage-free sooner and with some of the lowest mortgage rates in Canada.

Matrix Mortgage Global is an elite mortgage brokerage specializing in residential and commercial mortgages. We are experts at helping secure funds for difficult-to-place mortgages for home and business owners. Whether you are self-employed, operate a small business, own a home or a condo, we have a solution for you!

Citadel Mortgages’ whole client-first model was built around what is called “Your Mortgage Journey.” Each client mortgage is a journey, and Citadel Mortgages ensures all of this journey’s steps and actions are mapped out along the way. Citadel Mortgages’ clients love this client-first model, as it allows them to quickly fix any issues that may prevent them from achieving their mortgage goals.

For more information, visit matrixmortgageglobal.ca

For more information, visit citadelmortgages.ca

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THE CENTUM AWARD FOR INDUSTRY SERVICE PROVIDER OF THE YEAR

THE HOME TRUST AWARD FOR WOMAN OF DISTINCTION

 BluMortgage

 Carla Allen, Matrix Mortgage Global

 Canadian Mortgage App  Compare My Offers

 C aroline Rapson, CENTUM Financial Group Inc.

 Dolphin Enterprises Ltd

 Frances Hinojosa, Tribe Financial Group

 EasyNOA

 H ali Strandlund-Noble, Fisgard Asset Management Corporation

 Fundmore.ai  Mortgage Automator  Newton Connectivity Systems  SnapNOA  The Mortgage Office

 Kyra Wong, Manulife  Lindsay Jurek, Paradigm Quest  Luisa Hough, Verico Xeva Mortgage  Marina Bournas, RFA Mortgage Corporation  M ichele Steko, RISE Consulting & Communications  Susan Thomas, Invis Mortgage Intelligence  Tanya Appel, Axiom Mortgage Solutions

PROUDLY SPONSORED BY

Federally incorporated in 2002, the CENTUM Family is home to over 200 franchised mortgage offices with more than 2,500 mortgage professionals across Canada. As a division of the Charlwood Pacific Group, our network benefits from over 40 years of global franchising expertise in recognized brands, which include financial services, real estate, travel service, property management, and hotel accommodations. CENTUM provides its franchises with the systems, technology, training, support and financial products necessary to have a competitive advantage and succeed in the mortgage broker industry today. CENTUM is also a proud member of the Canadian Franchise Association. We provide the security of knowing that we are always Looking Out For Your Best Interest®.

For decades, our team of dedicated professionals has helped people put down roots, even when they thought it wasn’t possible. We have changed the way lending is done in this country and changed countless lives along the way. HOME TRUST began in 1977 with a goal to help all Canadians achieve their goals. We have grown to become a leading financial services institution in Canada – but that’s not what matters most to us. What matters is the mortgage broker who was able to help someone who wouldn’t otherwise qualify for a mortgage to purchase their first home. Or the business-for-self customer who was able to expand their operations. Or the newcomer to Canada with big dreams of building a new life. The stories of our customers – those who turn to us, who put their hopes in us, who rely on us every day to find a way forward – are our motivation to succeed.

For more information, visit www.centum.ca

For more information, visit www.hometrust.ca

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EVENT PARTNER

THE RFA AWARD FOR EXCELLENCE IN PHILANTHROPY & COMMUNITY SERVICE  Canada Mortgage and Financial Group  CityCan Financial  DLC Elite Lending Corp.  H ALO Mortgage Advisory Inc. | TMG Black Capital

BEST MEDIA CAMPAIGN OF THE YEAR

 Home Trust  MCAP  RFA Mortgage Corporation  Teranet Inc.

 Home Trust  Invis Mortgage Intelligence  Matrix Mortgage Global  New Wave Lending  TMG The Mortgage Group

MORTGAGE INDUSTRY EMPLOYER OF CHOICE PROUDLY SPONSORED BY

 Bridgewater Bank  Canadian Mortgages Inc.  CanWise Financial  CWB Optimum Mortgage We’re a Canadian-owned mortgage finance company and federally regulated bank with over 25 years of Canadian real estate experience. With us, you can always count on your underwriter or regional vice president of sales to pick up the phone and exhaust every option for your client. For more information, visit www.rfa.ca/prime or www.brokersfirst.ca

 Homewise  Lend At Ease  Matrix Mortgage Global  MERIX Financial  Sherwood Mortgage Group  Verico Xeva Mortgage

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METHODOLOGY  NOMINATIONS he nationwide call for nominations T was open to all members of the Canadian mortgage industry. Nominations were open from November 2021 to January 2022.

 RESEARCH T he awards team conducted research and drew on knowledge and information gained through CMP to verify and support nominations received.

 EXCELLENCE AWARDEES Once all nominations were considered

and research was complete, Excellence Awardees were selected in each category (except the Lifetime Achievement category) and notified. All Excellence Awardees were then invited to complete a detailed submission, to address the category criteria in more detail. Excellence Awardees were announced in CMP magazine and on the CMP website.

2022 JUDGES Thank you to our esteemed judges for lending their time and expertise to help recognize and celebrate excellence in the mortgage industry

CHRISTELLE FRANCOIS

STEFANIE COLEMAN Marketing and business development manager, Building Knowledge Canada

VP of operations, Federation of African Canadian Economics

DR CYNTHIA HOLMES

Associate dean, faculty & academic / associate professor, real estate management, Ted Rogers School of Business Management, Ryerson University

CATHERINE GRYGAR Partner, Stikeman Elliott LLP

TOM LEBOUR

MARK HOOSEIN

Former director, real estate broker, Ontario Real Estate Association, Royal LePage

Chief operating officer, Civida

 JUDGING ll submissions are forwarded to an A independent judging panel comprising mortgage and finance industry leaders and senior representatives. The panel will assess and vote for the winners in each category according to the relevant category criteria. Voting will commence in March–April 2022, and their judgment will be impartial, balanced, incisive and fair. Any judges with a conflict of interest in a category will recuse themselves from judging that category.

 WINNERS U sing a simple points system to aggregate judges’ votes, the Excellence Awardees with the top score in a category will be named the winners and will be announced at the awards show on April 28, 2022. They will also be promoted in CMP magazine and on online channels.

DR ANN MCAFEE

LISA PATEL

President, City Choices Consulting; retired co-director, Planning City of Vancouver

Founder, The Lisa Patel Team; president, Toronto Regional Real Estate Board (2020–21)

ED STEEL

DR YOUNGME SEO

Executive director, Mortgage and Title Insurance Industry Association of Canada

Assistant professor, real estate management, Ryerson University

JOSEPH WHITE

President, Real Estate and Mortgage Institute of Canada Inc. (REMIC); President, Association of Mortgage Investment Professionals (AMIPROS)

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EVENT PARTNER

A LOOK BACK: THE 2021 WINNERS Lifetime Achievement in the Mortgage Industry Rena Malkah, president, CFO, CEO and Broker of Record at CYR Funding Inc.

Broker of the Year (25 Employees or More) Luisa Hough Verico Xeva Mortgage

Broker of the Year (Fewer Than 25 Employees) Bernadette Laxamana, Karista Mortgage

Brokerage of the Year – Diversification Premiere Mortgage Centre

Brokerage of the Year (Fewer Than 25 Employees) Outline Financial

Employer of Choice MERIX Financial

Excellence in Philanthropy & Community Service Mike Brain, WE Advantage Mortgages

Lender Underwriter of the Year Brett Van Driel, Paradigm Quest

National Broker Network of the Year Centum Financial Group

New Brokerage of the Year The Collective Mortgage Group

The Avison Young Award for Broker of the Year – Commercial Daniela Peeva, Mortgage Alliance Commercial

The Canadian Mortgages Inc. Award for Broker of the Year – Private Lending Shawn Allen Matrix Mortgage Global

The Centum Award for Industry Service Provider of the Year Newton Connectivity Systems/Velocity

The CIMBC Award for Lender BDM of the Year Chris Woodhouse, RFA Mortgage Corporation

The Community Trust Award for Alternative Broker Specialist of the Year Kuljit Singh, AKAL Mortgages

The CWB Optimum Mortgage Award for Brokerage of the Year (25 Employees or More) CanWise Financial

The Haventree Bank Award for Digital Innovator of the Year DLC Expert Financial

The Home Trust Award for Woman of Distinction Elizabeth Wood, Canadian Mortgages Inc.

The HomeEquity Bank Award for Outstanding Customer Service by an Individual Office CanWise Financial

Young Achiever of the Year Shabnam Gill, Mortgage Outlet

CELEBRATE YOUR SUCCESS! As we return to an in-person gala, join us at the highly anticipated Canadian Mortgage Awards, where we will reveal the big winners and celebrate the successes of the mortgage industry over an incredibly challenging year. For table reservations or sponsorship opportunities, visit www.canadianmortgageawards.com or contact events@keymedia.com www.canadianmortgageawards.com 55

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PEOPLE

BROKER INSIGHT

A transparent, inclusive approach The Collective Mortgage Group’s co-founder, Christine Buemann, explains how the brokerage keeps the avenues of conversation open with its brokers, while sharing the perks of the business THE MORTGAGE business is often a lonely one. Many brokers keep their cards close to their chests when closing loan deals. Rather than disclosing their loan process and working together, they see other brokers as competition. Bucking the traditional ‘every broker for himself ’ mortgage mentality, The Collective Mortgage Group looks for qualities such as cooperation, communication and transparency in its brokers, and these qualities form the core principles of the business. “We have a very unique structure as a brokerage,” says co-founder Christine Buemann. “I would say that our primary objective is to provide a safe and transparent space for highproducing agents to collaborate and maintain their autonomy, but also have as much support as possible.” Viewing the mortgage process as a collective effort, The Collective Mortgage Group has also made it a top priority to create an environment in which its brokers can feel like they are part of a mortgage family working toward a collective goal. With its head office in Surrey, BC, and a broker presence up the West Coast to Prince George, the brokerage’s business approach is reflected in the high-volume mortgage producers it has hand-picked, Buemann explains. “We are definitely a boutique brokerage. Our focus is not on quantity; it’s on quality.

Our agents are all very experienced, and they also have exceptional character, which is by far the most important thing to us,” she says. Buemann points out that the quality of the brokers it has chosen means that a lot of talent has been turned away by The Collective Mortgage Group “because the culture and the space that we all broker in is the most important thing.”

Sharing each other’s successes Just as the company’s culture is central to its mortgage approach, so, too, is the way The Collective Mortgage Group’s brokers are compensated for their high-quality deals. Its brokers share in each other’s successes on a transparent and supportive team level, while also benefiting from the unique bonus rebate program offered by the brokerage. “I think transparency is something that’s really lacking in our industry. So we share consistently our volumes as well as all the funds that come in with our brokers,” Buemann says.

“A lot of lenders pay points, or they may pay some sort of back-door money, and we disclose all this to our team. “For those lenders who pay incentives, we actually funnel the funds [from these incentives] forward to the respective brokers, and we also share our funding ratios with everyone. A lot of those compensation structures are based on the funding rations themselves.” This form of compensation not only benefits the brokers financially but also gives them the incentive to maintain positive and mutually rewarding relationships with lenders.

Riding high in 2022 The Collective Mortgage Group is a young player in the industry, having launched at the beginning of the pandemic in February 2020. Right out of the broker starting gates, the company was forced to adapt to the changes brought about by COVID-19 restrictions. “Like a lot of high-quality brokers who

LEADING WITH KINDNESS The Collective Mortgage Group is a boutique brokerage with a focus on providing a transparent, safe and cost-effective space for high-producing brokers to maintain their autonomy while still having access to ample opportunity for meaningful connection. Co-founder Christine Buemann is well known as an industry disruptor with a passion for mortgages. Her enthusiasm is contagious, and she is on a mission to demonstrate the effectiveness of empathy and kindness in leadership.

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THE COLLECTIVE MORTGAGE GROUP AT A GLANCE

YEAR FOUNDED February 2020

LOCATION Surrey, BC

NUMBER OF BROKERS 10 primary brokers (some with teams of their own)

“Our agents are all very experienced, and they also have exceptional character, which is by far the most important thing to us” trust each other, who can rely on each other, it’s been a different run. We started in 2020 and have had only one team trip, so we haven’t been able to experience the same journey that we would have outside the pandemic,” Buemann says. Providing a supportive environment for brokers to have open conversations and share in the mortgage process helped move the The Collective Mortgage Group team forward during the pandemic. And this same approach

is propelling the brokerage forward into 2022. “We’re focusing on efficiency and the relationships we provide,” Buemann says. With the worst of the pandemic hopefully in the past, current factors impacting the mortgage sector remain on Buemann’s radar. When asked about the recent rate increases by the Bank of Canada and other inflationary pressures, she says cautiously: “I think the media is probably overpricing the rate increases. There are so many safety measures

ANNUAL VOLUME Just under $700 million

KEY INSIGHT THAT IMPACTS THE BUSINESS ‘Love always wins’

in place that I don’t foresee rates quickly becoming unaffordable. “Ultimately, the only thing we know to be true is that everything will change,” Buemann adds. “So we have to acknowledge that we need to be as fluid and open as possible.”

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FEATURES

WORKPLACE CULTURE

Why working culture needs to change The global pandemic has changed the way much of the world works. Colin D. Ellis explains why organizations need to redesign workplace culture in order to embrace hybrid working

CULTURE, or the ‘way we do things around here,’ is – and always has been – the biggest determinant of team and organizational success. When times are good, culture is invisible, save for the smiles on people’s faces, the dedication with which they approach their work, their determination to get the best out of each other, and how they collectively celebrate their successes. When times are bad, culture shows itself everywhere. O.C. Tanner’s 2021 Global Culture Report found that stagnant cultures – ie those in which employees were disengaged and demonstrated poor behaviours – were 10 times more likely to be negatively affected in a crisis, and many organizations are still suffering the effects that the pandemic has wrought on the way they operate. Conversely, the organizations that thrived during the pandemic were the ones that recognized that the way work was done had changed significantly, and as a result the micro experiences between staff would have to change too. They focused not only

on the wellbeing of staff but also the interactions between them. They recognized the fear and anxiety that people felt, and created a space where it was both OK to talk about it and still bring their most productive selves to work.

Too many organizations still leave the definition of working culture to chance, or hope that it ‘naturally’ evolves to suit the new working conditions. It almost never does In short, these organizations focused less on the tactical day-to-day of work and took a proactive approach to building emotional connections between people and redefining the culture they needed to be successful. If you’re moving to a hybrid working model, you need to do that too. Cultures that were previously designed

for a model in which people were interacting face-to-face when located in the same space are no longer applicable. For hybrid working to be effective, the working culture has to be redesigned to suit this model. When redefining the culture required for hybrid working, organizations need to consider the following.

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the pandemic was seen in the behaviours of employees. Fear, anxiety, confusion and anger have understandably undermined productive work at various stages during 2020 and 2021. Redefining the behavioural expectations of staff will increase responsibility and accountability and ensure that all staff understand where their opportunities for improvement and growth lie.

Collaboration Implementing collaboration tools won’t improve the way people interact unless there is agreement as to how people will use them and respect each other’s need for time to do productive work. Technology should support collaboration, not get in the way of it.

Innovation Microsoft is one organization that saw a reduction in innovation as a result of not moving to a hybrid working culture. Tools such as Gather can be used to create casual interactions between staff that give rise to ideas, or hold online hackathons to generate a pipeline of creativity.

Personality and communication Relationships are critical to productive work in a hybrid world, and this starts with people understanding themselves. The pandemic has affected everyone in different ways, so it’s important to recognize this and for people to re-evaluate who they are now, and how this has affected their purpose in life. Once they have that knowledge, empathy for others becomes easier, and communication is strong.

Vision One report at the end of 2020 found that only 30% of organizations surveyed felt they had clear consensus on their new vision postpandemic, which led to a detrimental impact on morale. The vision is an aspirational

statement of what the culture is striving to achieve, and it should provide excitement around what’s achievable in the next 12 months, not the goal pre-pandemic.

Values Values should provide emotional bonds and be lived in plain sight in every interaction between staff members. These may have changed during the pandemic. One organization I worked with added ‘Vulnerability increases our humanity’ to demonstrate the increase in transparency required to be successful in its hybrid working.

Behaviour

Too many organizations still leave the definition of working culture to chance, or else hope that it ‘naturally’ evolves to suit the new working conditions. It almost never does, and senior managers will seek to blame the new ways of working rather than their underinvestment in cultural evolution. Defining the culture required to meet the challenges or opportunities that hybrid work will bring needs to be done as early as possible. The world has changed, so the way work gets done needs to evolve to meet that. Colin D. Ellis is the bestselling author of The Hybrid Handbook: How to Set Yourself Up for the Future of Work and helps organizations around the world transform their working cultures.

By far the biggest impact on culture during

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FEATURES

LEADERSHIP

Unlocking hidden intelligence Leadership teams need to invest more in their relationships, problem-solving abilities and practical plans in order to improve performance. It’s important to unlock hidden intelligence in your team, says author Rob Pyne IN 2010, five psychologists set out to test the collective intelligence of teams. They subjected teams of three to five people to hours of tests, including brainstorming, making moral judgments, negotiating and critical thinking. The results of the study by Anita Williams Woolley and her colleagues, published in the journal Science, are little known, and yet they are incredibly important to the way we work, which increasingly involves working in cross-functional teams. First, the obvious. They found that, just like individuals, teams do have an ‘IQ’ score that predicts their performance on a wide range of tests. If they were good at the brainstorming task, they tended to be better at the negotiating task. They called this ‘Factor C’, for collective intelligence. Surprising predictors of collective intelligence Second, the not-so-obvious. While the individual IQ of each team member played some role in determining the performance of the team, it was in a distant fourth place. Of the top three top factors that predicted the performance of a team, the number of females in that team ranked in third place. The more females, the higher the collective intelligence of the team. Women, it seems, are

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generally better at the social dynamics needed to help teams solve tough problems. In second place was the equality of conversational turn-taking. In plain English: does everyone have equal airtime? In the study, this led to better team performance. You know those one or two people who dominate the meeting? These loud people are decreasing the chance that the team finds the best solution. And in first place, the single biggest predictor of a team’s mental performance was the social sensitivity of the individuals involved. To understand what this is, take a look at the test used to assess this. It’s called the ‘Reading the Mind in the Eyes’ test, which is used to measure the ability to judge how other people are feeling by just looking at a picture of their eyes. Social sensitivity is part of a bigger area of emotional intelligence. Social sensitivity means the ability to estimate how others are feeling. So, why does this matter to team performance?

How social sensitivity drives team performance A follow-up study by Woolley and colleagues in 2012 extended the findings. It showed that social sensitivity also drives performance in a longer-term, complex project. And, crucially, they showed that individuals with higher social sensitivity may benefit the team’s intelligence in several ways: • In brainstorms, they are seen as flexible thinkers, good at perceiving and responding to others’ input • They are seen as dependable, sharing the burden of work • They are seen as producing high-quality work, and as good communicators, respectful collaborators and able to compromise

Steps to building an intelligent leadership team My work is mainly with leadership teams. I get called in to help with ‘forming, fixing or future

You know those one or two people who dominate the meeting? These loud people are decreasing the chance that the team finds the best solution planning.’ I find that a leadership team’s collective intelligence has three distinct parts: • The team’s emotional intelligence, or EQ, as illustrated above • The team’s creative-analytical intelligence or IQ – its ability to solve complex problems • The team’s practical intelligence – which I call PQ – the ability to deliver projects, hit targets As leadership teams spend less time together than functional teams, it’s often the team’s relationships and EQ that need attention. They need to build the emotional foundations of a real team, including trust, authenticity and honesty. Breakthroughs happen when a team answers four key questions: Why? Who? How? and What? • Why does this team exist? What value are we here to create? • Who is in this team? What unique role and skills does each person bring? • How do we need to behave? How should we operate? • What are our key business priorities? Once a team’s EQ is high, you can tackle their collective IQ. If you find the members of your leadership team have long-winded discussions that don’t reach a conclusion,

then you’ll want to introduce specific problem-solving structures. For example, you may move through divergent thinking (exploring multiple perspectives) and then into convergent thinking (where you negotiate the best way forward). Finally, you need to unlock the group’s practical intelligence or PQ. Many leadership teams make decisions but fail to make plans. And if they make plans, they fail to include deadlines, owners and priorities. There will be some practically minded people in your leadership team. So, harness their skills to turn the team’s strategy and decisions into a visible roadmap of projects laid out over the year, a dashboard of key result areas and metrics, and include regular reviews of key projects in your leadership team meetings. In a McKinsey survey of leadership team members, 80% said their leadership team was not ‘high-performing’. Most leadership teams need to invest more in their relationships, their problem-solving ability and their practical plans in order to improve their performance over time. Rob Pyne, author of Unlock: Leveraging the Hidden Intelligence in Your Leadership Team, is a leadership coach and facilitator who helps teams unlock their collective intelligence and become smarter than the sum of their parts.

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FEATURES

PRODUCTIVITY

Why productivity hacks won’t help Many of us turn to hacks and tricks for an easy way to achieve more work in less time, but Amantha Imber explains that they may not get to the root cause of the problem

HAVING SPENT the last few years researching, writing and podcasting about the world of productivity, I’ve learnt that many people – myself included – love a good hack. A productivity hack promises us an easy way to achieve so much more in so much less time. For example, you might have read that batch-checking your email is far more effective than dipping in and out of your inbox multiple times an hour, as most of us do. You might have heard that using website

blocking software such as Freedom will help you stay focused on tasks and not succumb to digital distractions. While both strategies will help improve your productivity, the problem with hacks like these is that they can be like putting a Band-Aid on a gaping wound. If the way we work is fundamentally broken, hacks can only help so much before things come undone. If our inbox remains an overwhelming mess, checking it less won’t fix the fundamental problem. Likewise, if you are

suffering from digital addiction, websiteblocking software may not actually help you overcome your addiction.

Get to the root cause Instead of relying on hacks, try to get to the root cause of your productivity problems. Often, this comes down to reviewing your workflow. Workflow is the underlying explicit or implicit system that specifies how your work gets done. Workflow refers to how tasks are assigned, executed and tracked.

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project’s workflow using the Agile methodology. At its most basic, a Kanban board has three columns: To Do, Doing, and Done. All tasks associated with a project start in the ‘To Do’ column and gradually make their way across to the ‘Done’ column. Newport added in a fourth column labelled ‘To Discuss’. “I realised I could

First look for low-hanging fruit Newport’s advice is to change common workflows one at a time – and to pick the lowesthanging fruit first. For example, workflow around scheduling meetings is highly inefficient in most companies. Oftentimes, 10 to 20 emails can be exchanged to organise a simple 30-minute meeting. Instead, using meeting

Instead of relying on the latest productivity hacks to transform how you work, think about some of the most inefficient workflows in your organisation For Georgetown University computer science professor Cal Newport, dealing with email overload is a classic example of how the underlying workflow is broken, and how hacks to stay out of your inbox won’t fix things. “Often, the underlying issue is that there’s this workflow that depends on ongoing email communication to get anything done,” Newport explained on my How I Work podcast. “If you want systemic change, you have to replace your current workflow with something better. To what extent are you rearranging the deck chairs on the sinking Titanic when you’re building a more complicated system for an underlying workflow that’s just inevitably going to keep you overwhelmed or not have enough time to work on what’s important.”

Change your communication workflow When Newport was appointed as the university’s director of graduate studies, he saw the role as a chance to change his workflow around how he communicated with his team. Newport organised his tasks using a Kanban board, a simple chart to help visualise a

save a ton of email communication through having a ‘To Discuss’ column,” he told me. Every time Newport had something that he needed to ask his department chair or program administrator or anyone else he was working with, he resisted the urge to just shoot off an email in that moment. Instead, he listed the topic for discussion on his board. “While sending an email in the moment would give me a little bit of relief, every one of those is a new unscheduled message that’s out there and a new unscheduled response. That’s then going to potentially lead to a long back-and-forth chain of unscheduled messages, which I learned doing the research for my book, A World Without Email, is productivity poison.” Newport ended up having ‘To Discuss’ columns for separate people that he frequently needed to discuss issues with. Then, whenever he was next meeting with them, he would be able to plough through the topics for discussion swiftly and resolve them then and there. “This probably saved me many dozens of unscheduled emails per week by just waiting until I got to those next meetings.”

scheduling software such as Calendly.com can dramatically reduce the to-and-fro communication required for this common basic task. Meeting scheduling software works by allowing the user to allocate blocks of time they have available for meetings, then send a scheduling link to the person or people they want to meet with so they can book in the time that works best for them. Ten-plus emails can be replaced by a single email – a classic example of how changing the workflow provides a far better solution than an email productivity hack. So, instead of relying on the latest productivity hacks to transform the way you work, instead think about some of the most inefficient workflows in your organisation. One by one, redesign them to make the process more efficient so you are no longer reliant on hacks that don’t address the root cause of the problem. Dr Amantha Imber is the founder of Inventium, Australia’s leading behavioural science consultancy, and the host of How I Work, a podcast about the habits and rituals of the world’s most successful people.

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PEOPLE

OTHER LIFE

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

Remi Korent has given away skateboards, T-shirts, hats, toques and hundreds of stickers and is considering producing hoodies this year

SKATING TO THE TOP Broker Remi Korent’s favourite pastime has grown into a mortgage success story IN LIFE, it’s often what we do outside the office that makes us who we really are. That is certainly the case for Remi Korent, mortgage broker at Calgary-based Rock Solid Mortgages. With a passion for skateboarding that started as an early teenage obsession, Korent skated right onto the mortgage path by applying the skills his pastime had taught him to glide easily into the role of a top-producing broker. “I used to ride my skateboard in to work,” Korent says, laughing. “So I’ve always been, like, the skater mortgage kind of guy.” Looking for ways to support a sport that has offered so many life lessons, Korent had the idea to put his logo on paper. “I decided to put my logo on shirts and hats and stickers, and I decided to support the skate community with all kinds of swag and supporting contests,” he says. “It’s cool. And you’re helping kids, which is great because it’s a passion for them that they might not necessarily be able to partake in.” With one foot on his board and the other firmly planted in the mortgage boardroom, Korent continues to be a ‘gliding’ force.

13 yrs

Age at which Remi Korent started skateboarding

Number of skateboards Korent has given away

Number of new Rock Solid graphics in the works for spring/summer

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CMP 17.01

Articles inside

Productivity

Leadership

A collective goal