The BC Mortgage Broker

WINTER 2012

INSIDE: How Are You Optimizing Your Application Process?

Creative Lending Directory Gadget Goon Mortgage Brokers Association of British Columbia’s

10th Annual Conference and Trade Show May 7-8, 2012 Fairmont Hotel Vancouver

PM #41297283

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Call Brian Chelin or Mike Saba today Or contact us at: bchelin@lanyardgroup.com or msaba@lanyardgroup.com

c o n t e n t s W I N T E R

2 0 1 2

VOLUME 2 , NUMBER 5 Jessica Facini jfacini@mbabc.ca 604-408-9989

EDITOR

MAGAZINE CHAIR Holly MacPhail

604-630-3625

holly.macphail@mcap.com Publisher

Craig N. Brown

Art Director

Donna Szelest

Contributors

Paul Plakas Gursharan Dhaliwal Varun Chaudhry Catherine Halkyard Grant Plunkie Michael Ashe Kevin Dear

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12

Photographers Unless specially credited, all photos were submitted or taken by staff.

Advertising & BILLING Debra Hiller

accounting@mbabc.ca

604-408-9989

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THE bc mortgage broker is published in conjunction with THE MORTGAGE BROKERS ASSOCIATION OF BRITISH COLUMBIA

30

34 211-1433 St. Paul Street Kelowna, BC V1Y 2E4 P. 250.868.2229 F. 250.868.2278

www.nichemedia.ca

The bc mortgage broker is published in KELOWNA, BC by NICHE MEDIA. Š2012. All rights reserved. The views expressed in The bc mortgage broker are those of the respective contributors and not necessarily those of the publishEr or staff.

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featuresd e p a r t m e n t s 12 17

2012 MBABC Conference and Trade Show 10,000 Spoons When All You Need is a Knife

7

message from the president

25 LIFESTYLES

8

2012 BOARD OF DIRECTORS DIRECTORY

28 report on MBIBC

10 rePORT from the executive

19 Creative Lending Directory

29 MBABC Membership 34 Gadget Goon 37 How Are You

Optimizing Your Application Process?

11

30 MEMBER PROFILE: broker

director

32 member profile: LendEr

CALENDAR OF EVENTS

40 in the news

14 in the community 22 NOTICE FROM ficom 23 The Broker Media Kit

42 thank you to our advertisers

44 mbabc new members WINTER 2012 | the bc mortgage broker

5

THERE’S A NEW TEAM IN TOWN!

E&O

ERRORS & OMISSIONS COVERAGE DESIGNED FOR MORTGAGE BROKERS

Through a new partnership with the MBABC, Jones Brown is able to provide unparalleled protection and comprehensive coverage for all members including:

 Competitive pricing: Minimum annual premiums as low as $650

 Fast and easy quoting and binding: With electronic paperwork done via email. The application is available online at the MBABC website: www.mbabc.ca

 Several payment options: Including cheque, monthly bank withdrawal or credit card (Visa, MC or AMEX in up to 3 installments)

 Alternate insurance options: We can provide solutions for your Office Contents, Commercial General Liability, Mortgage Impairment and Directors & Officers Liability Insurance needs as well.

EARLE McCANDLESS, Program Director emccandless@jonesbrown.com Direct: 604‐609‐2192 Steven Cole, Program Executive scole@jonesbrown.com Direct: 604‐609‐2199 805 ‐ 609 Granville Street, Vancouver, BC V7Y1G5 Fax: 604‐608‐1174

The MBABC’s new E&O program is underwritten by Royal & Sun Alliance Insurance Company; one of Canada’s leading property and casualty insurers. www.rsagroup.ca

MBABC is a registered trademark of the Mortgage Brokers Association of British Columbia. RSA is a registered trademark of Royal & Sun Alliance Insurance Company of Canada.

Jones Brown is a registered trademark of Jones Brown Inc. (10/2011)

D E P A R T M E N T

m e s s a g e from

the

pre s ident

2

Geoff Parkin, President

Making the most efficient use of resources is top of mind for all industry associations in Canada.

012 is upon us, and we are heading into an exciting year in our industry.

Making the most efficient use of resources is top of mind for all industry associations in Canada. MBABC recognizes the importance of maximizing the value received by both our members and our industry supporters and we believe shared initiatives between associations make a lot of sense. Recently we announced the joint member discount for members of both MBABC and CAAMP , as well as joint billing for members of both associations. We continue to work with other associations across the country to look at national education standards, national licensing, as well as the harmonization of regulatory environments between provinces. MBABC and CAAMP joint task force representatives will continue to work throughout 2012 on opportunities for shared benefit.

The Real Estate Council of Alberta (RECA) will be hosting a national event in March to consider self regulation of our industry. MBABC will be participating in those meetings to review the benefits and risks to our activities in BC that would result from a self regulatory environment. As our industry continues to evolve and mature, we need to look ahead to ensure we take the path best suited for our members.

While it may take several years for self-regulation to come to fruition, MBABC and MBIBC have established a joint committee to review possible future structures, and to work with Government and Regulatory bodies.

We will also be continuing our efforts to increase membership in our association.

Happy New Year to you and your families. I wish you all the best in 2012, and thank you for your support.

Geoff Parkin, MBABC President

WINTER 2012 | the bc mortgage broker

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D E P A R T M E N T

2012 directory b oard Geoff Parkin

Roger Levesque

Deb White

604-531-7310, 604-619-5343 cell, 866-218-5996 fax geoff.parkin@vericoselect.com

250-405-4351, 250-380-8048 cell, 250-405-4355 fax roger@rocharfinancial.com

250-545-2202, 250-549-7283 fax deb.w@telus.net

President

PRO DEVELOPMENT/bpcpa/ethics

SPONSORSHIP

Geoff Willis

Jared Dreyer

Holly MacPhail

604-649-5991 x201, 604-539-3802 fax jared@dreyergroup.ca

604-630-3625 holly.macphail@mcap.com

604-742-3411, 604-657-9195 cell, 604-630-7270 fax geoff@origingroup.ca

Megan McDonald

Darryl Harris

Kevyn Oyhenart

204.928.7707 866.954.7620 x 202 toll free 204.292.4817 cell darylh@onelinkmortgage.com

Vice President/MEDIA RELATIONS

Loren Hawkins

Secretary/gov’t relations/golf

250-862-9504, 250-215-3042 cell, 250-861-2939 fax lhawkins@valleyfirst.com

Rob Hafer

Treasurer/finance & audit/sponsorship

250-480-0633, 250-881-3900 cell, 250-480-0662 fax robhafer@invis.ca

Joanne Vickery

Past President/PAST PRESIDENTS’ COUNCIL

vickery@intergate.ca /alternate 604-250-5070 cell, 778-571-4258 778-571-4259 fax joanne.vickery@mtgarc.ca

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the bc mortgage broker | WINTER 2012

MAGAZINE

416.591.2730, 416.420.1817 Cell megan.mcdonald@mcap.com CONFERENCE/TRADE SHOW

604-272-1784, 604-341-5798 cell, 866-601-4914 fax koyhenart@shaw.ca

Susan Shannon

Conference/Tradeshow

250-483-1375, 250-217-8777cell 250-483-1377fax susan.shannon@vericoselect.com

Jason Suttie

PRO DEVELOPMENT

604-760-2247, 866-646-5230 fax jason@custommortgages.ca

MEDIA RELATIONS

Director At Large

director s S T A F F Tamera Olsen

Executive Director

director@mbabc.ca 604.408.9989

Debra Hiller

Accounting / Member Services

accounting@mbabc.ca 604-408-9989

Catherine Barry

Education Coordinator

604.844.2898 cbarry@mbabc.ca

Jessica Facini

Marketing & Communications

604-408-9989 jfacini@mbabc.ca

MORTGAGE BROKERS ASSOCIATION OF BRITISH COLUMBIA Suite 404, 999 Canada Place, Vancouver, BC V6C 3E2 Phone: Direct 604-408-9989 Toll Free 877-371-2916 Fax: Direct 604-608-0977 Toll Free Fax 866-557-0977

Bold Broker Support BoldResources.ca

Karl Madson

Tony Kreutzer

Laura Wright

Gary Siegle

Rob Hafer

Lower Mainland

Interior BC

Lower Mainland

VP, Western Canada

Vancouver Island

604.290.1219

250.718.4687

604.539.4770

866.264.6847

250.881.3900

FALL 2011 | the bc mortgage broker

9

department

r

e from

I

Tamera Olsen

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the bc mortgage broker | WINTER 2012

the

p

o

e x ec u ti v e

am happy to report that 2011 was a success. We delivered a number of professional development events exploring a wide variety of topics, enjoyed a conference with great participation, and further developed our programs around social media, government relations, education, communications and the magazine. By adopting a director at large position, we have improved our relationship and communication with our

r

t

director

national organization, and as a result have additionally established a joint task force to identify common issues and strategize on behalf of membership to improve efficiencies and further connect the industry. The task force meets regularly and we’re achieving open dialogue and collaboration on issues that affect us all.

Our Past Presidents are taking an active role in director nominations and bylaw

D E P A R T M E N T from the e x ec u ti v e director

review. The opportunity to engage and improve our industry with the benefit of this wealth of experience and energy is a testament to the passion for the mortgage broker industry and spirit of philanthropy among these individuals. We thank them tremendously.

Watch for director nominations in the coming months.

You can expect our complete 2012 Calendar of Events on our web site with a tickler in this issue of the BC Mortgage Broker. Our upcoming Conference & Trade Show has a new face, new dates and a new location. Mark your calendars for May 7-8 at the Fairmont Hotel Vancouver and don’t miss our exciting line up of speakers and topics. We’ll also be recognizing those among us who have given to their community, their industry and throughout their lifetime at our Awards Luncheon during the conference. We’ll be accepting Pioneer Award nominations soon and encourage your input on this prestigious award. I’d like to recognize our Past Pioneer Award Recipients: Mark Alltree, Andy Ambro, Don Barr, Mal Darroch, Colin Dreyer, Doug Eubank, Bob Lindley, John Ribalkin, Hali Strandlund.

I want to thank each of you for your continued participation with your provincial association. MBABC is the voice of the industry with our regulator and provincial ministry officials. We strive to bring you practical knowledge in all our educational offerings and enable you to take advantage of significant savings on Errors & Omission insurance as well as extended health & dental through our member benefits programs. I encourage you to look into these opportunities and enjoy the benefits of membership.

We wish you a prosperous 2012, and with that I’d like to share this quote:

Learn from yesterday, live for today, hope for tomorrow All the best!

– Albert Enstein

2012 CALENDAR OF EVENTS Applied Information Course April 2 & 3 2012 October 11 & 12 Hilton Metrotown Register Now

Designated Individual April 17 & October 17 2012 Hilton Metrotown Register Now

10th Annual MBABC Conference & Tradeshow May 7 & 8 2012 Register Now

Charity Golf Tournament September 10 2012 Mayfair Lakes Golf & Country Club, Richmond

Professional Development Feature Coming in September TBA

WINTER 2012 | the bc mortgage broker

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F E A T U R E

Mortgage Brokers Association of British Columbia’s 10th Annual Conference and Trade Show M A Y

7 th

&

8 th

2 0 1 2

F airmont

Vanco u v er

Susan Shannon & Kevyn Oyenhart, Conference Chairs, are excited to announce a new venue for this year’s event at the historic Vancouver Fairmont Hotel. The theme draws from The Great Gatsby and will prove to be in keeping with the roaring 20’s.

They have taken much of your feedback from last year’s survey and condensed everything into 2 days of knowledge, education and networking.

Join us as we welcome: Bank of Canada Deputy Governor John Murray Dr. Pawliw-Fry, Leadership & Performance Expert Industry Expert Panel Break out sessions for Online Data Security and Mortgage Fraud 60 Trade Show Exhibitors Broker Appreciation Event Exhibitor Booths and Sponsorship are already selling fast !! Download a registration form or call the office today to secure your spot.

10th Annual Conference and Trade Show Registration Early Bird Pricing: Full Conference: Full Conference includes all events, meals and entertainment

$345

Non- Members may register by phoning in at 604/408-9989 or toll free 877-371-2916.

Non-Member price: We strongly encourage membership with the MBABC.

$415.

Payment Policy Registration is available online at www.mbabc.ca and payment is by credit card only.

Exhibitor Information Showcase your company to an audience of over 500 industry professionals. Maintain top of mind awareness and exercise your competitive edge to a live and captive audience of Brokers, Lenders, and affiliates.

• Build relationships and continue to expand your business.

• An investment of $2000 garners: - Exposure to promote products & services to all delegates - Corporate description & logo in conference program - 2 exhibition passes - Access to all education & networking events Please download a registration form at www.mbabc.ca WINTER 2012 | the bc mortgage broker

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D E P A R T M E N T

Our knowledge, Our relationships, Our investors, Your benefit.

Commercial Mortgage Bankers

community iN THE

Local Mortgage Broker Raises $10,000+ in Mountain Climb for BC Children’s Hospital From October 8th to 14th, Jacqueline Baker, a mortgage broker with Dominion Lending Centres Total Mortgage & Leasing, completed a mountain climbing expedition with Summits of Hope. The nine-person team successfully climbed Mount Kilimanjaro – the highest mountain in Africa – to raise money for children at BC Children’s Hospital.

Baker had agreed to raise at least $5,000 in donations by October 1st, 2011, and to date she has raised more than $10,000 – and she’s continuing to raise money until the end of the year. Collectively, the nine-person Summits of Hope team raised more than $60,000 on their mountain climbing expedition.

“I’m climbing for children who are sick… Our team climbs mountains so that children battling disease don’t have to,” says Baker.

Baker had agreed to raise at least $5,000 in donations by October 1st, 2011, and to date she has raised more than $10,000 – and she’s continuing to raise money until the end of the year. Collectively, the nine-person Summits of Hope team raised more than $60,000 on their mountain climbing expedition.

“I’m climbing for children who are sick… Our team climbs mountains so that children battling disease don’t have to,” says Baker.

To date, Summits of Hope has raised more than $2 million for BC Children’s Hospital: www.summitsofhope.com.elease For more information, please contact: Jacqueline Baker, AMP, Mortgage Broker Dominion Lending Centres Total Mortgage & Leasing, Tel: 604-724-6982 E-mail: jbaker@mypowermortgage.com Web: www.mypowermortgage.com/jacqueline

MBABC Annual Charity Golf Tournament Raises $24,500 For BC Children’s Hospital. Thank you to all our generous sponsors & supporters.

L to R: Marcie Mark Philanthropy Officer,

Rob Hafer Treasurer, Tamera Olsen Executive Director, Loren Hawkins Golf Chair, Geoff Parkin President, Joanne Vickery Past President

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the bc mortgage broker | WINTER 2012

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bwballstarportal.ca MBAB002 10/01/11

F E A T U R E

10,000 Spoons When All You Need is a Knife

A

Grant Plunkie, Business Development/ Senior Editor, Paradigm

nswer these 10 questions to package your ‘B’ deals for easier approvals!

With apologies to Alanis Morisette and her hit song Ironic: 'it's a B deal, don't sell it like an 'A'..... And isn't it ironic, don’t you think.......

So many times in my role as Senior Underwriter for a private lender, I get off the phone or finish reading an email from a broker presenting a new deal and think; that was a great presentation for a 'bank' deal. The only problem is we're not a bank.

Unfortunately presenting a deal incorrectly wastes a lot of time on everyone's part, especially yours. I used to be a broker, so I know how much time it takes putting together the client application into a package for the lenders. The underwriter then reviews all that info and still doesn't have the answers they need to make a lending decision, so now they are frustrated too. Trust me on this; it takes a bit longer to put together a very good app, but it saves you countless hours vs. following up on a mediocre app. It also gets your deals to the top of the pile.

The ten questions that follow will give a bit of clarity as to what private lenders look for when underwriting a deal so you as the broker can make your presentation to the lender more efficient. The better you know your lender and their criteria, the better you can tailor your presentation to that lender to give you the highest possible chance of getting your clients deal funded.

As an Equity Lender, the priority for us is obviously equity. That doesn't mean that income and credit are unimportant. We just look at them differently than an 'A' lender would.

A lot of deal presentations start out by telling me what the Line 150 or T-4 income is. Of course I'm curious, but we don't require those documents, nor do we use GDS/TDS ratios. I would rather hear that the borrower has employment, what they do for a living and that they have the ability to make their payments.

The same goes for credit. Again, I'm curious about how they handle their obligations but we don't have minimum beacon requirements.

For us, credit history is an indication of risk and should be used more in a 'rate' or LTV decision rather than for an 'approval' decision.

If you can answer the following Ten Questions and gain an understanding of how your lender underwrites using the answers to these ten questions, your deals stand a far better chance of being approved in less time and with fewer follow up questions. This is a win-win for all concerned!

WINTER 2012 | the bc mortgage broker

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1 0 , 0 0 0 s poon s , contin u ed

1) Where is the property located?

Each lender has specific areas where they like to lend.

Some only lend in urban areas while others like rural areas. Lenders tend to focus on areas they know, so know your lender’s appetite.

2) What type of property is it?

Residential, commercial, land, mixed use or ALR? Many lenders only do residential loans and some only like commercial. Again, lenders focus on what they know, so pick the right lender.

3) Why do the borrowers need funds?

Purchase, refi, ETO, construction or development; What is it? Lenders have a different view of borrowers if they are purchasing and putting hard earned dollars into the downpayment vs. borrowers that use their home as an ATM.

4) What is the use of funds?

This ties in with the last question but digs a bit deeper. If the loan is an ETO, does it payout all debts or is it a bandaid that only delays the inevitable? No one really wants to be the last lender that sends it to foreclosure because the loan didn't really fix the issue.

5) What is the value of the property?

We need to have a starting point when looking at the valuation of the property, so what is it? An old appraisal, the purchase price, a Realtors opinion or the BC Assessment are some good places to start. They won't be bang-on, but they are better than an estimate by the borrower or nothing at all.

6) What is the amount of the loan request?

Combined with the valuation of the property, this gives us the LTV. Just because a lender indicates that, say 75%, is their maximum LTV, the property may not be very marketable and they scale back the LTV approval for that deal. Factors that affect marketability are; location, condition, age and use. These factors will affect the price and time to sell a property if the lender ends up with the property. Different lenders have varying risk tolerances so again; get to know your lenders.

Even pricing can relate to LTV. Some lenders will give great rates at 50% LTV but not even look at a deal at 80% LTV so if you pick the right lender, everyone wins.

7) What is the quality of the borrower?

Do they work? What is their credit like? Do they have assets? If it is a construction loan, do they have the necessary experience? Whether it is a $25,000 loan or a $1,000,000 loan I am underwriting, I want to know who I am dealing with. Either way, It's a large sum of 18

the bc mortgage broker | WINTER 2012

money and we have investors that want to know we are lending their money wisely.

8) What are the twists to the deal?

We all know there is at least one, that's why you're calling! What got them into a situation that they require a private lender and how will they get out of that situation?

In conjunction with our solicitor, who happens to be located right in our office, we've been able to work through some seemingly impossible deals because the broker was forthright about the kinks of the deal. This way we knew what we were getting into, assisted the broker and were able to fund, rather than everyone having a nasty surprise on funding day.

9) How will the payments be made?

How and when will the loan be repaid? I know that was two questions but ten questions sounded like less work than eleven! Seriously though, if the borrower has no means of making the monthly payment, we're just setting them up for a foreclosure. Foreclosures are costly and time consuming; two things that aren't good for a private lender. We want to help borrowers get back on their feet, not be the lender that sinks them.

Also near and dear to a lender’s heart is getting the whole loan repaid at the end of the term. Our hope is that you will work with the borrower to get them back to an 'A' lender as soon as possible. That way, you have another loan to place for that borrower.

10) What are the intangibles?

Quite often these can save the day and the deal. Do they have another property to use as collateral? Perhaps an inheritance or an insurance settlement can be verified. This is where you have to dig deeper in understanding your borrower’s total situation so that you can tell us why this is a deal we should fund. We don't meet the borrower, so we rely on your ability to tell us honestly and accurately about the deal, both good and bad points, and why it is a good deal.

If you can answer these ten questions, you will find your applications give the underwriter the info they need to help your borrower get funded. These questions are only a starting point. They barely scratch the surface, but with experience you will learn how to drill deeper into a file and get the best info to get the deal done!

Grant has been a licensed mortgage broker in BC since 1998. For twelve years he brokered residential 'A' and 'B' mortgages and small commercial loans. In 2010 Grant joined Paradigm Mortgage Corporation, a BC based MIC manager. Grant is Paradigm’s Business Development Manager and Senior Underwriter. As the former owner of a small brokerage, he enjoyed training numerous sub-brokers over the years. In his role at Paradigm, Grant continues to be a resource and trainer to brokers throughout BC. If you would like Grant to host a training session at your office, he can be reached at 1-800-979-2911.

F E A T U R E

Creative I Lending Directory

n our fall issue of the BC Broker , we included a pull out MIC directory in order to assist our members in placing non standard deals. This turned out to be a very popular and valuable tool for our members. In this issue we wanted to enhance this resource by providing other options. There are many private lending sources available in BC that are not MIC’s that have similar lending guidelines for non standard deals. So with that, we have now created another directory called, “Creative Lending”. The following will distinguish these two directories: • A MIC or ( Mortgage Investment Corporation ) is an investment and lending company designed specifically for mortgage lending whereby one could invest in a company which manages a diversified and secured pool of mortgages • Our new directory of “Creative Lending” are sources that are not MIC’s and are merely lenders. These will include individual private lending sources or private lending companies * MBABC has accumulated this list from suggestions from our members and has not investigated any lending sources and recommends brokers complete their due diligence when using any lender

Company

How long operating MIC

Niche

Submission process

10 years

Consumers Choice Mortgages Inc has been supplying private investor funds to the mortgage broker industry for the past 8 years. Prior to that they were brokering under the name of Swallow’s Mortgages In Minutes. The company represents approximately 30 individual private investors, who have amounts from $20,000 up to $7,000,000 for investing in mostly residential second mortgages (some first mortgages). Currently the maximum loan size per file is $600,000. The lending areas are The Lower Mainland, Fraser Valley, Vancouver Island, Sunshine Coast, (with limited funds for Kelowna and Penticton). LVR maximums are 80% for owner occupied with clean credit and 75% for rentals.

Poor credit considered for low loan to value deals. The rates for second mortgages are between 10% and 12%. Broker fees are negotiable and shared 50/50 with the referring broker.

Preferred method for sending files is attachments to e-mails.

Cathy and Darryl Swallow’s business is 100% private lending.

Cathy Swallow Phone 604-541-7301 Cell 604-506-6957 e-mail: cathyswallow@telus.net Darryl Swallow Phone 604-541-7303 Cell 604-710-5814 e-mail dswallow@telus.net

42 years Founded in 1970, Equitable Trust is a niche mortgage lender whose core business is first charge mortgage financing. Equitable serves single family, small and large commercial borrowers, and their mortgage advisors. Single family customers include business-for-self Canadians, newcomers, and investors who have the financial resources to achieve real estate ownership but do not meet the traditional credit criteria of the major banks. It also serves the investing public as a provider of Guaranteed Investment Certificates across Canada. The Company is a CDIC insured deposit taking institution.

Ian Silvester Manager, Residential Mortgages isilvester@equitabletrust.com 604-561-4966 Carol Lea Kalman, RBM ckalman@equitabletrust.com 604-360-8902 Toll Free: 1-866-940-1201 Toll Free Fax: 1-888-440-1201

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C R E A T I V E L E N D E R S , contin u ed

Company

HOME TRUST

How long operating MIC

Niche

Submission process

25 years

Home Trust Company is one of Canada’s leading trust companies.

We offer Canadians a wide range of financial product and service alternatives, including mortgages, Visa cards, deposits and retail credit services. We focus primarily on a unique segment of the Canadian marketplace: consumers who do not have traditional credit backgrounds and whose specific needs are not met by larger financial institutions. We cater to self-employed entrepreneurs, people with past credit issues and borrowers with equity in their property who do not qualify due to lack of provable income or little credit history.

Jim Bearman Email:jim.bearman@ hometrust.ca Phone: 604-360-6162 Fax: 604-484-4664 Filogix and Morweb both accepted

To find out how you can close more deals, contact your BDM or visit www.hometrust.ca.

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the bc mortgage broker | WINTER 2012

21 years

Fast and friendly service at the some of the best rates available.

1st & 2nd & inter-alia mortgages up to 75% Loans from $100,000 to $10 million.

Equity only, no debt service or credit required.

Residential, commercial, land, construction Purchases, refinance, debt consolidation Construction draw mortgages Solution based lending for tough files Putting our experience to work for you Supporting brokers for over 20 years; your success is our success.

Contact Chris or Adam Email: adelisle@instafund.com akorbin@instafund.com Phone: Chris Delisle Adam Korbin 604 687-2020

9 years

Everyone has PRIVATE FUNDS. So why CALL US? We have NO GUIDELINES! Well, OK, maybe one or two.... If: You would lend your own money on the deal Can support your application with documents And have a clear exit strategy Then chances are we will fund it!

We are the Small Loan Specialists Firsts and Seconds ~ $10,000 - $100,000 Integrity Mortgage Inc. looks at every deal on a CASE BY CASE basis. We are known for being fast, straight forward and easy to deal with.

Rates and Fees are determined by the strength and risk of the application.

Kim Strynadka, A.M.P. Owner, Mortgage Expert Integrity Mortgage Inc. Phone 250-729-3890 Cell 604-839-3890 TF 877-729-3890 TF Fax 866-298-2071 www.integritymortgage.ca

40+ years

“Creative Mortgage Financing is our specialty” We currently have a vast amount of Private/Corporate/Commercial Mortgage Funds available for the following product type: 1) 2nd mortgages for Apartment Buildings, Townhomes and/or Condo Developments 2) 1st mortgages for any type of multi Residential and/or Commercial Revenue Producing Properties 3) 1st mortgages on Raw Land in select areas 4) Inventory Loans for Builders 5) Draw Construction 1st mortgages We prefer to lend in major centres in BC, Alberta, Saskatchewan and the Maritimes. We also will look at other areas, including the US and Mexico etc.

Product Type: 1) 1st or 2nd Mortgages 2) Bridge Mortgages 3) Construction/Draw Mortgages 4) Interim Mortgages 5) Blanket Mortgages with individual discharge provisions

The best way to start the process is a quick phone call to Lorne Keetbaas on his cell phone at 403 680 6716. If he likes the deal, the next step is to send him an Executive Summary outlining the client’s name, security, collateral security, location, how much is required, reason for request, exit strategy, proposed pricing and details of the proposal to keewest@gmail.com.

Pricing: Determined on a deal by deal basis.

C R E A T I V E L E N D E R S , contin u ed

Company

How long operating MIC

12 years

Niche

Submission process

Lanyard is a non-bank lender providing low cost and creative financing solutions in B.C. and Alberta.

Loan Amounts: $1,500,000 to $15,000,000 Interest Rates: typically 5.75% to 8.5% Income Property Loans: up to 75% of value Condo Inventory Loans: up to 65% of value Land Loans: up to 55% of value (major urban areas only)

4 years Mountain City Mortgage is a boutique brokerage that specializes in personalized business relationships and hard to place deals - primarily residential, but also some commercial and construction. We believe in win-win-win between borrower, broker, and lender, and hands-on expertise and timely decisions are our strong points in private lending.

The best way to approach us is by calling us at 1888 685 6181, and explaining the background of the deal, then following up with a package of paperwork with needed details, preferably over martinis.

Toll Free: 866-698-5388 Vancouver: 604-688-5388 Aryn Snell aryn@mountaincitymortgage.ca 1.888.685.6181

20 years

Providing services all over Canada for raw land selectively and commercial deals only.

Product type: bridge financing selective 2nd mortgages no 3rd mortgages

Call first 604-664-7079 and then by e-mail acb@nexusinvestments.ca Fees depend on the deal but do not include the brokers fee

7 years

We are the home of Sensible Lending®, where each application is considered based on its own merit. Our team centralized of underwriters uses common sense to find solutions that fit your client’s needs. We specialize in NIQ/ Stated Income lending and have mortgage solutions for :  Business-for-self clients.  Clients with soft income (tips/side jobs).  Clients who do not meet the traditional TDS/GDS lending requirements.  Clients with less than perfect credit scores due to extenuating circumstances.

Contact your local BDM first to discuss deals:  Interior BC & Lower Mainland East: Matthew Scaife, 250-212-3763, matthew. scaife@cwbank.com.  Lower Mainland West & Vancouver Island: Jackie Matthew, 604-317-4027, jackie.matthew@cwbank.com.  Corporate office: Marcia Browton, 1.866.441.3775, marcia.browton@cwbank.com.

We provide 1st mortgages up to 80% loan-to-value for single family and multi-unit residential homes and will allow 2nd mortgages behind our 1st up to 90% loan-to-value.

For current rates and guidelines please visit www.OptimumMortgage.ca.

®

Contact either: Mike Saba: msaba@lanyardgroup.com; or Brian Chelin: bchelin@lanyardgroup.com

26 years

Specializing in Alternate Equity Lending, Peoples Trust offers an alternative to borrowers who may not meet all of the lending criteria of the major financial institutions.

We pride ourselves on excellent service, flexible terms and a common sense approach. We can help self-employed borrowers or applicants with imperfect credit on large loans, bridge financing & rental properties.

Or submit mortgage documents through:  Filogix: Optimum Mortgage  Email documents: mortgagedocuments@ cwbank.com  Fax: 1-866-477-8897  Underwriters: 1-866-441-3775 Tom Wollner, RI, FRI, AMP Peoples Trust, Manager Residential Mortgages - BC Suite 1115 – Bentall Two PO Box 231 555 Burrard Street Vancouver, BC V7X 1M8 Tel: 604-331-2210 Fax: 604-683-2787 Mobile: 604-351-0422 Email: tomw@peoplestrust.com www.peoplestrust.com

WINTER 2012 | the bc mortgage broker

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C R E A T I V E L E N D E R S , contin u ed

Company

How long operating MIC

Niche

Submission process

25 years

Private, equity lending with no income verification and no credit score requirements. Very flexible approvals catering to virtually any situation or circumstance - up to 75% LTV. All types of residential properties considered, including farms, acreages, mobiles – even raw land! We can even help with foreclosures! Exceptional rates and fees on 1st, 2nd & 3rd mortgages. Lending in British Columbia, Alberta & Manitoba.

Email: lending@premhome.ca Fax: 1-877-600-3362 Phone: 1-866-460-4409

45 years

Romspen is Canada’s alternative commercial mortgage lender specializing in ‘B’ product commercial real estate. We offer customized mortgage solutions for term, bridge and construction financing from $2M to $60M, with each application considered on its individual merits. With direct access to decision makers, Romspen leads the industry in time-sensitive lending.

Romspen has a long term track record of successful mortgage investing in Canada. With its origins in the mid-60’s, Romspen has been in business for 45 years and is one of the largest non-bank commercial mortgage lenders in Canada.

Blake Cassidy Managing Partner blakecassidy@romspen.com

12 years

Spectrum-Canada provides a wide range of non-conventional “private style” creative mortgage products to solve your clients’ financing needs for credit/income challenged individuals, construction/land financing etc. We offer “Sensible Solutions” with 1st and 2nd mortgages to 80% LTV (85% on exception) from B.C. to Ontario in all geographic locations (remote areas may affect LTV). See how Spectrum can help you.

James Pell Email: James.Pell@spectrumcanada.com Phone: 604.855.9750 (Abbotsford) or 1.866.676.2054 ext. 2066 Fax: 778.371.7957 or 1.866.534.7194 Filogix or Morweb also accepted

15 years

Trinity Mortgage (1996) Corporation is a true full service mortgage brokerage firm. Trinity’s brokers are seasoned and work with a broad range of institutional and private lenders.

Trinity finances everything from single-family residences to apartments, hotels to care homes, recreational properties to all sizes of construction projects.

No financing job is too big or too small for us!

Email: info@trinitymortgage.ca Website: www.trinitymortgage.ca Phone: 250-744-3291 Fax: 250-744-3407

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416-928-4868 416-966-1161

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FICOM shall be moving its offices to 555 West Hastings Street in Vancouver effective Monday, Feb. 13, 2012

Our new contact information is set out below: Financial Institutions Commission Suite 2800, Box 12116 555 West Hastings Street Vancouver, BC V6B 4N6 New main Phone line: 604-660-3555 New main Fax Line: 604-660-3365 Toll free line remains unchanged – 866-206-3030

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e F I C O M

The BC Mortgage Broker Magazine

SUMMER

The B.C. Mortgage Broker Magazine is a communication vehicle for MBABC members. It is published quarterly and gives each advertiser the opportunity to be seen as an industry leader with their product or service. The magazine is also promoted throughout the year to new member prospects and at the annual MBABC Tradeshow and other events.

2011

INSIDE: 2011 M B DIreCt ABC MIC ory Announ c BC MIC ing the AssoC MAnAgers IA (BCMM tIon A)

• 10% added if requesting specific placement (waived when prebooking 4X)

Receive A

Underw tips for riting MICs

20% Discount*

on your online advertising when you book one full year of print advertising in The BC Mortgage Broker. *Offer valid upon authorized contract signature.

PM #412972 83

ONLINE MEMBER Directory The MBABC publishes an Online Member Directory for MBABC members. It is updated regularly and gives all advertisers the opportunity to be seen as an industry leader with their product or service.

http://www.mbabc.ca

Description PIXEL ANNUAL size RATE

Leader Board** 728 x 90 $ 1050 (under main menu) Left Vertical Menu* 240 x 120 $ 825 (2 places) Square Button* 125 x 125 $ 775 (3 x right vertical) Footer* 468 x 60 $ 450 (bottom) Text Ads (25-30 char. max./line) 4 lines $ 330 (inserted in Directory) ** Refresh frequency has a maximum capacity of two advertisers * Refresh frequency has a maximum capacity of three advertisers All online advertisements must come in .jpeg, .png or .gif format with an associated URL. GIF’s can be animated but must remain under 50KB. Your online ad links to your site through the URL provided and gives you complete control to edit/update the content of the complete ad. Your ad may be updated maximum once per month.

CREATIVE SERVICES Niche Media provides complete ad design and production services. These services are available for an additional charge of $75/hour.

Advertisers assume responsibility for proofing and accuracy of information on ads.

WINTER 2012 | the bc mortgage broker

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THE BROKER PRINT SPECIFICATIONS & RATES the bc mortgage broker MAGAZINE ADVERTISING Rates include 4 colour process: 1x 4x 2 page spread $ 2700 $ 2700 FP $ 1575 $ 1500 1/2 $ 785 $ 750 1/3 $ 575 $ 560 1/4 $ 450 $ 425 Covers: IFC: $ 1790 $ 1700 IBC: $ 1790 $ 1700 OBC: $ 2000 $ 1900 Cover Wrap:

$ 1795

$ 1795

A

Full Page (with 1/4” bleed) 8.625” X 11” Full Page

7.25”w X 9.58”h

B

1/2 (horz)

C

1/3 (sq)

D

1/3 (vert)

2.31”w X 9.58”h

E

1/4 (vert)

3.55”w X 4.71”h

F

Cover wrap: 8.5” X 3.5”, folded to 4.25” X 3.5”

7.25”w X 4.71”h

A

4.78”w X 4.71”h

ISSUE DATES

Winter Spring Summer Fall Directory

A

full bleed

no bleed

E

Submission Deadline Circulation

D

January 7, 2012 February April 11, 2012 May July 11, 2012 August October 10, 1012 November Open

B

C

The BC Mortgage Broker is trimmed to: 8 3/8” wide x 10 3/4” high Live area: 7 3/8” x 9 3/4” (1/2” inside trim)

General Conditions & Policies All advertising is subject to Publisher’s approval and agreement by the Advertiser and the Advertising Agency to indemnify and protect the publisher and its agents from and against any claims, loss, liability or expense, including any legal fees arising out of publication of such advertisement. Cancellations are not accepted after space deadlines. Covers may not be cancelled. Payment should be made with order or at closing date unless credit terms have been arranged. Accounts past 30 days are subject to interest charges of 2% per month.

Please contact Editors and Chairs Communications Magazine/Directory to reserve space (see below).

Rates are in Canadian funds. Taxes are additional.

Production charges are extra where applicable.

The MBABC can not be held responsible for time sensitive ads as print schedules vary and are beyond our control.

Technical Requirements Please provide PDFs of your final artwork, press optimized in CMYK colour, with all fonts embedded. We accept files created with Adobe InDesign, Illustrator and Photoshop – include all fonts and linked images for the ad file. Photos, graphics and other bitmap based graphics should be saved in uncompressed TIFF or EPS Format.

Resolution must be 300 DPI at full size. Logos and other vector-based graphics should be in EPS format or AI format and have all text converted to curves. Fonts must be True Type or Postscript Type 1 Mac compatible. Ad dimensions must be sized exactly to the ad size booked. Publisher/designer accepts no responsibility for possible errors due to RIP when files have not been saved as above.

Deadlines Published at the beginning of every third month, the BC Mortgage Broker is distributed across British Columbia.

Contact Information Publisher: Craig Brown

craig@nichemedia.ca Advertising: JESSICA FACINI

604.408.9989

jfacini@mbabc.ca Editors: HOLLY MACPHAIL

778.772.3619

Holly.MacPhail@mcap.com Billing:

DEBRA HILLER 604.408.9989 accounting@mbabc.ca

Website: www.mbabc.ca

Ads may be emailed to: accounting@mbabc.ca Subject line must include name of publication, the issue the ad is to go in, name of the advertiser and size of ad.

Example: MBABC Broker Mag/Mar 2010/Big White/full page+bleeds

CIRCULATION Print run of 15,000.

1600 issues addressed and mailed to all MBABC Members four times annually.

3400 addressed and mailed to all FICOM Members four times annually.

MORTGAGE BROKERS ASSOCIATION OF BRITISH COLUMBIA Suite 404 - 999 Canada Place, Vancouver, BC V6C 3E2 Member Line: 604.408.9989 Toll Free: 877.371.2916 Fax: 604.608.0977 Toll Free: 866.557.0977 Website: www.mbabc.ca Email: director@mbabc.ca

D E P A R T M E N T

lifestyles EXERCISE INTENSITY PRINCIPLES

Paul Plakas

H

ow hard a person exerts themselves over a period of time is probably the number one reason that affects weight loss and fitness. If you are not working at a level that your body is not used to then changes cease to happen and you will plateau. The physical activity we do in a 24 hour period is responsible for 30-40% of the total calories we are allowed to intake in a day to meet our weight loss objectives. To maximize your energy expenditure in a day and to become fit the intensity of your effort is vital to achieving success. Below I have compiled a list with different levels of exercise intensity and the approximate amount of calories you would be burning at that level for the time period you are working at.

This list will give a value of how hard you are working relative to your own fitness level. The first six levels are considered active living intensity. They are how you exist in most hours of the day in your environment. The key is to spend more time at levels 4 and 5 and less time at levels 0 and 1. Research shows that body fat levels are lowered WINTER 2012 | the bc mortgage broker

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more from your active living intensity rather than from exercise. We generally only workout one hour per day, but we are active living the other 23 hours.

The next five levels focus on your exercise intensity.

Exercise intensity is what will make you fit and separate you from the average person. If you are

doing an hour of exercise daily, five workouts per week can be at the 6-8 levels and two workouts at 8-10 levels. With more intensity you can get away with less workout time, maybe 30-40 min. With longer workouts, 60 min plus, you can work at lower intensity levels.

Levels of Perceived Exertion Intensity Level 0 – Lying on the couch watching television, reading or listening to IPod. (Calorie Range = 50 to 80 per hour) Level 1 - Sitting at table eating, doing a puzzle or playing board games.

(Calorie Range = 80 to 110 per hour) Level 2 - Light house work. Taking out the garbage, dusting, putting dishes in dishwasher.

(Calorie Range = 110 to 150 per hour) Level 3 - Walking as a stroll or light gardening. Potting a plant, watering flowers.

(Calorie Range =150 to 300 per hour) Level 4 - Moderate housework or gardening. Picking up toys, vacuuming, mowing the grass, weeding.

(Calorie Range = 175 to 400 per hour).

Level 5 - Aggressive housework and gardening. At this intensity you can feel your heart working. Examples are carrying the laundry basket upstairs, chasing the kids in the yard, gardening activities like digging and racking the grass.

(Calorie Range = 200 to 500 per hour).

Level 6 - Easy exercise, you feel like you can do the activity for a long time. Power walking, yoga, pilates, biking with the kids.

(Calorie Range = 300-600 per hour).

Level 7 - Moderate intensity exercise. At this level your heart is beating steady and firmly. Walk/ run intervals or jogging at a steady state that feels comfortable.

(Calorie Range = 400 – 800 per hour).

Level 8 - Hard exercise. You could continue to exercise but it feels so good to stop. Most people run races or compete in sports at this level.

(Calorie Range = 500 -1000 per hour).

Level 9 - Near maximum heart rate and muscular fatigue. In one to two minutes you will have to cease the activity because of exhaustion. Doing intervals to this level followed by a short period of recovery for multiple sets will make you really fit.

(Calorie Range = 600-1200 per hour).

Level 10 – Maximum heart rate and total muscular failure. Complete exhaustion, 100% effort.

Very few people can go here because it hurts. I call it the “pain zone”. This is where you see the devil. Athletes go this hard but can tolerate the intensity. It takes desire and mental toughness to make yourself hurt this much. Not recommended to do more than two workouts per week at this level.

(Calorie Range = unlimited depending on the person and activity of choice).

The more you experiment with working at different levels of exertion the better you will become in recognizing how hard you are working. This is important because in my experience many people

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the bc mortgage broker | WINTER 2012

think they are working hard but drastically underestimate what they could have done if pushed.

Maximize the minutes in your day with harder work and you will have a better chance of attaining the lean, fit body you desire.

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Education Coordinator Report

Catherine Barry, Education Coordinator MBIBC

I was one of thousands of people who participated at the Mortgage Bankers Association’s 98th Annual Convention held this October in Chicago. Since 2008, the industry has seen its share of controversy; especially since the real estate market crashed in 2008. Also the pressure of increased compliance demand, new regulatory and

legislative requirements, and the stresses of handling day to day operational and administrative tasks compounded the challenges for brokers.

It was great to be able to watch different panels of experts as they shared their thoughts and perspectives on how to address these new and growing demands and challenges.

MBIBC : Currently offered Online Modules Module 1 - Record Keeping Module 2 - Advertising Module 3 - Form 9 Lender Disclosure Module 4- Appraisal MBIBC : Regulatory Updates Regulatory Update webinar - February 29th, March 27th, April 19th 2012 In-person seminar - May 7th 2012 To register for MBIBC Relicensing Program please contact: Catherine Barry, Education Coordinator cbarry@mbibc.ca Direct 604.844.2898 MBABC Professional Development Applied Information Course – April 1 & 3, October 11 & 12 2012 Designated Individual Course – April 17 & October 17th 2012 Both the AIC & DI Courses are hosted at the Burnaby Hilton Metrotown To register for MBABC Professional Development Courses please contact: Debra Hiller, Accounting accounting@mbabc.ca Direct 604.408.9989 28

the bc mortgage broker | WINTER 2012

F E A T U R E

MBABC Membership Advantage Discounted Errors & Omissions Insurance As a member of the MBABC, you have access to our exclusive Errors & Omissions (E&O) Insurance Program, which is customized to you and your firm. This program was designed as the most comprehensive and competitive E&O insurance for mortgage professionals across the country. The program meets all the specific requirements of mortgage brokers in British Columbia and across the country.

“Our company saved over $4000 this year through the MBABC E&O Program. The process was simple to apply and the forms were straight forward. The team at Jones Brown answered all my questions and followed up with the approval.

I highly recommend that you contact Earle McCandless, MBABC Account Director when you’re up for renewal to save your company thousands.”

– Jared Dreyer, The Dreyer Group Earle McCandless , CRM MBABC Account Director

Direct.

604.609.2192 Fax. 604.608.1174 emccandless@jonesbrown.com www.jonesbrown.com

Health & Dental Benefits You can now take advantage of our association’s buying power when you work with Granville West Group to customize your medical and dental insurance needs. The MBABC has cultivated a rewarding relationship with Granville West Group to ensure our members access to competitively priced health and dental plans.

Brian Ganden, CFP GBA Employee Benefits Consultant

Direct 604.687.4758 Cell.

604.340.8064 Fax 604.688.3385 bganden@granvillewest.com www.granvillewest.com

Industry Representation We liaise with the Provincial Regulator, BC Ministry of Finance, the BC Securities Commission, and affiliate organizations. We advocate the use of an MBABC mortgage broker through our consumer awareness programs and work for consumer protection. MBABC collaborates across the country to strengthen and unify the mortgage industry.

Discount Member-Only pricing on the following : • Professional Development course curriculum designed by Education Coordinator, Catherine Barry • Industry Networking events such as the MBABC Annual Conference & Tradeshow and our Charity Golf Tournament

Stay connected and Capture Up to Date Industry Information & News • Announcements on press releases, industry newsletters, local media news and interviews • Communications on professional development courses and industry events • Your contact information is listed within our Member Directory for both industry and consumer sites • Receive a hard copy and electronic version of our quarterly magazine The BC Broker

Access MBABC / BPCPA Cost of Consumer Credit Disclosure Form • Free with membership • Includes : FAQ’s, Broker Input Worksheet, Fixed & Open Disclosure, HST Reporting Be recognized as an active participant of Your Industry. Download the MBABC logo for promotional use and differentiate yourself to your clients as an association member held to the highest standard of ethics & professional practices.

Go online TODAY www.mbabc.ca & click “BECOME A MEMBER” Annual membership dues are $150

Invest in Your Profession. Invest in Your Future. MBABC. WINTER 2012 | the bc mortgage broker

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D E P A R T M E N T

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MBABC’s Member Broker Profile presents Gursharan Dhaliwal and Varun Chaudhry of The Mortgage Group Our best practice: what makes us successful to our clients.

Our “Team work” is our best practice.

We divide the workload, which makes us more efficient. We filter our deals based on what is the nature of deal then we pick which person that works it based on expertise. I (Varun) have a strong “A” lending background due to working as a Sr. Personal Banker whereas Gursharan has more experience in Private, B Lending & Commercial due to his background.

We also collaborate with each other on any kind of deal where we get stuck and need a second opinion. We both are comfortable with all kinds of deals, due to our experiences.

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Biggest challenge mortgage brokers face today.

Advice for new brokers coming into the market.

The biggest challenge we would say is the competition with large number of established mortgage brokers and the banks that are hungry for business.

Clients these days have a lot of options where they can get the mortgages from so that gives them a power to bargain on rates which is one of the major challenges.

Any new broker coming to the industry needs to find the right employer. There are lots of factors that any new comer will not be familiar with & they should be clear of the following questions: Which company should I join & what is the difference between them?

How many lenders does the company has access to?

Will I be able to learn something from my employer? Will I be able to submit the deals on my own or through a closing desk?

New brokers should embrace the challenge of large competition in the marketplace as a positive and use that to become more efficient. They shouldn’t get discourage in the beginning as anytime you start something new it does take time.

What do I find important about the MBABC. MBABC provides information about what is happening in the mortgage industry. They give us updates about all the things we need to know being a Mortgage Professional. From information about mortgage lenders to what is the future prediction about market. They have it all. In short MBABC is excellent source of our market updates, continuing education, Professional development, etc.

The Right Partner Makes All the Difference.

Industry-leading compensation CMHC or Genworth insured mortgages 3% Cash Back towards down payment Dedicated Business Development Managers to serve you Competitive Fixed & Variable Rates

Lower Mainland

Island & Interior

Sasha Idema

Tania Hatcher

cell

cell

(604) 328-6901

e-mail sasha.idema@resmor.com

(250) 818-3884

e-mail tania.hatcher@resmor.com

D E P A R T M E N T

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MBABC’s member profile presents Catherine Halkyard of ING Direct Broker Sales Team

What does my role entail?

My job entails stick-handling deals, scoring great accounts, checking the tough players and making everyone accountable; including myself to ensure ING Direct provides excellent service to the mortgage broker market.

What makes a successful BDM? Diplomacy, reliability, knowledge and empathy.

confidence,

As a BDM you manage all of BC, what are your tricks for such a large territory?

Have a plan – I have an annual plan and then I break it down in to quarterly plans with 3 – 4 action items per quarter. This allows me to manage

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a sales strategy that is proactive, not reactive.

Don’t get behind – Answer calls and emails as quickly as possible.

Favorite Aspect of the Job? I love this industry and the role of the BDM. I have brokered, been a licensed assistant, a mortgage specialist, worked in sub-prime and been a national sales trainer. This industry is full of amazing opportunities and very dynamic, exciting people.

To narrow this down to one favorite aspect is difficult but likely it is the fact that I never get bored.

Value from MBABC? Definitely the Members Directory! This is my bible. I have two copies, one on

my desk and one in my car. Pooling of deals has made it very difficult to know who is truly supporting ING Direct and where my business is actually coming from. If you, as a broker, are in the directory I can find you. Otherwise, it is very challenging.

Books I have just read: I just had some time off so there is quite a list but for Non-fiction – Fierce Conversations by Susan Scott and Resonate by Nancy Duarte. For fiction – Not Wanted on the Voyage

by Timothy Findley, Still Alice by Lisa Genova and I’m currently reading Half-Blood Blues by Esi Edgyan.

If anyone wants to start a business book-club with me my next non-fiction read is Boomerang: Travels in the New Third World by Michael Lewis.

$46,000,000 Purchase of a Mortgage Portfolio

When Size Matters!

ON, QC, AB, BC

Commercial Lending. Fast!

• Term, Bridge & Construction • Complex Situations • Large Transactions • Creative, Fast & Reliable

$31,000,000

$12,000,000

Subdivision & Housing

Multi-Tenanted

Construction

Industrial Buildings

Kelowna, BC

Fort McMurry, AB

Blake Cassidy (Ext. 4868)

800.494.0389 or 416.966.1100 Romspen is a non-bank mortgage lender specializing in commercial real estate across Canada. We offer customized mor tgage solutions for term, bridge and construction financing from $2M to $60M. With $750 million under administration, Romspen leads the industry in commercial mortgage lending.

www.romspen.com license #10172

THE ALTERNATIVE LENDER You NEED To kNow Fisgard is one of the largest private alternative lenders in Western Canada and is dedicated to supporting mortgage brokers and their clients. We provide competitive products, flexible lending guidelines and dedicated customer service.

Having a good relationship with you, our broker clients, is critical to the success of our business. Fisgard’s creative, knowledgeable and experienced underwriting team wants to see all of your deals that don’t fit the typical “bank box”. Chances are that Fisgard can fund these deals, and fund them quickly. We are here for you and we’re here for your clients.

Call your underwriter today.

Call 866.382.9255 or visit www.fisgardmortgage.com

Fisgard Capital Corporation | 3378 Douglas Street, Victoria BC V8Z 3L3 | www.fisgardmortgage.com Fisgard_MBABC_HalfPage.indd 1

WINTER 2012 | the bc mortgage brokerPM 1/4/2012 12:39:59

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F E A T U R E

Gadget Goon B

Michael Ashe, AMP Regional Vice President, Mortgage Centre Canada

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ack in 2006 the brain trust at IBM projected that the world’s information base (i.e. data) would double every 11 hours by the turn of the decade. Fast-forward to today and IBM says that 90% of data in the entire world today was created in just the last two years.

Today people have so much information coming from so many places we are now buying programs whose sole purposes are to merge, filter, and sort other programs! We’ve become hoarders of information because it’s so easy. Who needs to delete the extra 10 iPhone images of the one shot you needed? Just auto-upload them to iCloud and ‘fuggeddaboudit’.

Being a member of the generation that started with Atari and telephones that needed to be plugged into a wall, I’ve been fascinated and fortunate to try out everything from the first PC and Apple computer to the first brick cell to the beloved iPad. I love sorting through the onslaught of information like a treasure hunt and finding gems that may actually be useful to everyday life.

Just in the last year we have seen the emergence of five major trends: Group Buying- People love a good deal from Groupon. Too bad it’ll never have an unbelievable 5-year fixed rate special for the first 50 clients.

Geolocation Apps- Find me anytime anywhere. Teens love these, singles need these, parents mandate these, and kids find ways to fool these. I’m not sure if one of your clients really needs to see you getting closer and closer to their home appointment, but it’s a growing trend!

Tablets- iPad is King. The whole business world shunned BlackBerry’s Playbook, including all of us in the broker industry that use BB phones! In fact, the general public didn’t even care when $1.7M worth of Playbooks went missing en route to retail stores for Xmas. Apple and Android Apps are king and will be THE driving force in 2012.

Cloud-based Apps- Dropbox, iCloud, and the soon to be released Google Drive are the next evolution of our storage needs.

Why? Because kids these days will share anything about themselves online and business will track and store it all.

gadget goon , contin u ed

Online Video watching- You Tube, online only networks, and peerto-peer sharing of videos have all increased substantially. If you don’t video blog, why not start this year? Check out BlogPress from CLT Studios for $2.99. You can capture video from your iPhone or iPad, then post it straight to You Tube and embed the video blog in your website all at once!

Some trends will bring good tools to help your business and some will just bring fun for your personal adventures.

The booming tablet industry is a huge trend within our industry. It seemed as though every second person I saw at the national CAAMP conference this past December was carrying one and every big booth was offering one as their prize. I just had a long time broker call me the other day asking how he was supposed to photocopy a client’s ID for compliance if he meets him outside the office. When he said yes to recently acquiring an iPad I suggested that if he wanted to look ubercool to his client he should install ‘Scanner Pro’ by Readdle on his iPad and use it to scan, drop-box, and then upload to exchange all at their house. For just under $7 he’s started on the path to paper freedom.

For those of you either just beginning or well on your way to being a tech junkie like me, here’s a new year’s list of other apps you should look at:

BizXpense Tracker by Silverware Software Whether you’re a BDM or a broker, all the road-warrior brethren know tracking mileage, keeping receipts, and then cross referencing it for your accountant is an endless pain. Coming in the form of $5.99 relief is an app that allows you to easily track your mileage, time, meals, and even take a photo of the receipt on the spot. Plus you can then drop-box it or store it in your huge cloud until expense reporting time.

No more scratching your head trying to remember where a receipt went or who you where with again. It’s well rated and worth a look.

Datavault by Ascendo Research suggests the average person now has to remember five passwords, five PIN numbers, two license plates, three security ID numbers and three bank account numbers just to get through everyday life.

Microsoft research found that the average user has 6.5 Web passwords, each of which is shared across almost four different websites. In addition, each user has about 25 accounts that require passwords, and types an average of 8 passwords per day. Ouch!

To keep track of it all, and securely, you may want to check out Datavault by Ascendo for $9.99. It syncs between your mobile gadgets and desktop, has military grade encryption, and can even auto-generate passwords with top-level strength once you run out of birthdates, nicknames, or 1234 choices! Last, if you lose your gadget, it has a mission impossible self-destruct program if someone tries to hack the password.

makes good mortgage brokers better with: • A complete process management system • Timely reminders that are sensitive to the deal process • A complete conditions management system • Automated CRM and performance management systems

Want to evolve to create a smarter, faster and simpler mortgage brokerage operation?

Contact Us for a no-obligation, no cost presentation of OTTO. This system is available to all mortgage brokers in all mortgage networks.

Email info@ottomortgage.ca or call Kevin Dear at 604-562-8328

GPS for iPad Still waiting to win a Garmin GPS unit at the next industry event so you use the tiny 3.5” display on your iPhone or BB map for live directions while driving? Now you can go big with iPad GPS Apps. So, if you have a 1½ lb. suction cup and you’re not driving around a Fiat 500 (the whole window will be blocked), take a look at these two competitors:

WINTER 2012 | the bc mortgage broker

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gadget goon , contin u ed

Still waiting to win a Garmin GPS unit at the next industry event so you use the tiny 3.5” display on your iPhone or BB map for live directions while driving?

Navigon Canada The company was recently bought by Garmin and released a late 2011 update for it’s $49.99 apps, adding a number of new features such as MyMap, which saves your favourite or planned trip maps, and FreshMaps, which guarantees ongoing map updates for North America. With real-time weather, lane-assist on freeways, traffic alerts, walking maps, and parking help, this app looks good on the big screen.

TomTom U.S. & Canada The major competitor to Garmin, TomTom has received higher user ratings than Navigon and has the much touted TomTom HD Traffic which directs you around traffic congestion. For the same price this App adds in more customization such as the ability to use celebrity voices for directions and change colours. Whether or not the TomTom HD Traffic is working in Canada yet is being debated online.

Smartphone, tablets, and even Apps are becoming more and more an extension of our personalities. You hear custom ringtones, see custom covers, engravings, stickers, and yes, even piercings! If you have discovered an App or gadget that you’d like to share with, email me through the editor at MBABC holly.macphail@mcap.com and we’ll try to review it in an upcoming issue. You can also follow my regular small business owner tweets under the handle @cmichaelashe. Until next time.

MORTGAGES TO SUIT YOUR NEEDS • Commercial/Residential

• Short Term Bridge Loans

• Land/Subdivision Loans

• Development Cost Over-runs

• Project Workout Solutions

• Multi-Family

ALAN LONG CRAIG MCLAREN PHONE: 604-731-2899 • FAX: 604-734-5546 TOLL FREE: 1-866-432-4949 EMAIL: mandatenational@telus.net Suite 505 - 1195 W. Broadway, Vancouver BC V6H 3X5

Vancouver’s Sub-Prime Mortgage Lender since 1982 36

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VWR half-pg-magazinead-CMYK-march2011.pdf 1 09/03/2011 9:45:37 AM

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D E P A R T M E N T

news

iN THE

Street Capital Awards its Top National Broker in Jamaica!

Anthony Contento of Mortgagebrokers.com, Sherwood Mortgage Group was awarded the prestigious 2011 Highest National Sales Award for Street Capital Financial Corporation at their third annual Broker Rewards Celebration at the Iberostar Grand Rose Hotel in Montego Bay, Jamaica on January 21, 2012. Each year Street Capital takes their top producing brokers on a trip to reward them for their support and their business.

Paul Grewal states, “Anthony and the Sherwood Mortgage Team have been tremendous supporters of Street Capital over the past few years. It was

Deal directly with the Lender that offers unparalleled experience in mortgage lending We can fund a broad spectrum of property types and loan situations.

Purchases, refinances, residential & commercial    

Kevin Dear

24 hour response time Competitive rates and fees Expert advice, consistent reliable Service Lending area, BC, Alberta, Saskatchewan

Submit your applications through Filogix, fax 1-888-226-8834 or by email documents@caplink.ca Or give us a call to discuss your deal 1-888-429-0114 Residential Helen Neufeld ext. 215 Helen@caplink.ca Commercial Gay Andrews ext 236 gay@caplink.ca

Caplink Financial Corporation | Suite 2200, 10104 103 Avenue, Edmonton, AB T5J 0H8 |

40

the bc mortgage broker | WINTER 2012

www.caplink.ca

an honor to recognize him at our dinner reception and awards ceremony as our number 1 producing broker in Canada” .

Anthony Contento adds “The top notch service excellence support from my Street Capital underwriting team and the Street Capital executive team is second to none.

This is why I send my business to Street Capital. To be awarded by the Street executive team was a proud moment for me.”

In this photo with Anthony Contento receiving his award is the Street Capital Executive team Paul Grewal, President; Ed Gettings, CEO; Greg Gray, EVP Sales; Alfonso Casciato, VP of National Credit Operations.

EnRICHed Academy’s “Smart Start for Financial Genius”!

Dominion Lending Centres is proud to announce the launch of EnRICHed Academy’s “Smart Start for Financial Genius”! This program has been designed to educate young adults (13-23) and their families on the fundamentals that build wealth in an entertaining, funny and entirely interactive way.

For more information, please contact: Cindy Freiman Director of Public Relations & Communications Dominion Lending Centres Inc Tel: 289-240-6322 E-mail: cindy@dominionlending.ca Web: www.dominionlending.ca

I N T H E N E WS

BCMMA launches Website January 6, 2012

Megan McDonald Megan McDonald returns to Vancouver with a winning strategy as MCAP’s Director, Business Development for the Eclipse line of business.

Megan has been in the industry for 8 years - five years as MCAP’s Regional Account Manager (Lower Mainland) and two years as Director of Servicing previous to her new appointment.

She also served as Director of Education for MBABC. Always an advocate of the broker community, Megan brings a high-energy, client focused, and innovative approach to her new role.

The British Columbia MIC Managers Association (BCMMA) is pleased to announce the official launch of its website – www.bcmma. org. Members of the public who access the site will be able to educate themselves as to the purpose of the organization and the standards to which its members are held. Of specific interest to mortgage brokers is the member page which serves as an access point to the websites of each of the Association’s members. Collectively, BCMMA’s members have in excess of $1 billion in lending capacity and provide a broad spectrum of lending capabilities throughout the province.

The BCMMA was formed for the purpose of facilitating the exchange of information and ideas among its

membership and to present a common voice to regulators and others in an effort to protect member interests and further an understanding of our industry.

For further information, please contact Alan Cross, President,BCMMA at 604-986-4975 or alancross@firstcircle.ca

WINTER 2012 | the bc mortgage broker

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to

o u r

ad v erti s er s :

thank you Antrim Investments Ltd

ING Direct

Otto Mortgage Systems

Armada Mortgage Corp.

Invis Inc.

Bridgewater Bank

Jones Brown

Paradigm Mortgage Corporation

British Columbia Association Appraisal Institute of Canada

Lanyard Financial Corporation

CapLink Financial Corp.

Club MBABC

Romspen Investment Corporation Sherwood Mortgage Group TD Canada Trust

Cove Mortgage Ltd.

Mandate National Mortgage Corporation

D+H

MCAP

Dominion Lending Centres

Nexus Investment Corporation

Vector Pacific Mortgage Corporation

Equitable Trust First National Financial LP Fisgard Capital Corporation

42

Lawrenson Walker Realty Advisors

ResMor

the bc mortgage broker | WINTER 2012

Optimum Mortgage – A Division of Canadian Western Trust

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Contact your regional business development manager or our underwriting centre at 866.441.3775 WINTER 2012 | the bc mortgage broker

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welcome

new members

FIRST NAME FIRST NAME

LAST NAME LAST NAME

nicole apps nicole apps Vince Agozzino gurjinder athwal gurjinder athwal Janice Anderson Hanny au Hanny au Yiannis Andreou gordon Beynon gordon Beynon Deborah Bastedo Owen Brown Owen Brown Brian Buchanan David Beckingham Brian Buchanan alfredo Carrete Philip Beer alfredo Carrete Erin Chadwick Kevin Benn Erin Chadwick shashi Chander Lee-Anne Beskau shashi Chander Jason Chapman Jason (Sukhu)Chapman Sukhkaran Bhatty Marion Chekaluk Marion Chekaluk Amritpreet Boyal Patrick Cheng Patrick Cheng Julianne Brunsch Dulce Coelho-Fedoriw Dulce Coelho-Fedoriw Catherine Bujold Kirk Colman Kirk Colman steven Corcoran Michael Butt steven Corcoran Peter Daniel Christopher Cabel Peter Daniel Janine Davies Debra Callaghan Janine Davies Candice Delorme Candice Delorme Elizabeth Chau Paul Devine Paul Devine Tony Chiang Derek Diener Derek Diener Gary Chohan Richard Earles Richard Earles Stevie Crawford alvin Farmer alvin Farmer tara FelsCrowe Warren tara Fels sannie Fisher Linda DaCosta sannie Fisher Jillanne Ford Tony Davis Jillanne Ford Paul gill Paul gillDempsey Sasha lisa glasper lisa glasper John Eivindson Michelle Haddad Michelle Haddad Colleen Brett HallFlynn Brett Hall Mike Forshee Michael Hayward Michael Hayward Kees Hendricks Brian Foster Kees Hendricks saba Hessamian Lindsay Fowler saba Hessamian Elizabeth Howatson Aaron Gage Elizabeth Howatson Joyce Hubenig Tricia Gage Joyce Hubenig Ryan iannone Ryan iannone Mark Gawehns Chris Jimenez Chris Jimenez Barry Gee amarjit Johal amarjit Johal Beth Geeves Jennifer Jollymour Jennifer Jollymour Siavash Ghaemmaghami Henny Karbowiak Henny Karbowiak Ruhi Kaur Dave Gilbraitti Ruhi Kaur teisha Keith teisha Keith 38 44 38

the bc mortgage broker WINTER 2011 the bc mortgage broker || WINTER 2012 the bc mortgage broker | WINTER 2011

COMPANY COMPANY

verico select Mortgage Corp. verico Homeselect Trust Mortgage CompanyCorp. aK Mortgage Plus inc. aK Mortgage Plus inc.

Invis Inc. Macquarie Financial ltd.

Macquarie Financial ltd. Mortgage Services Inc. Verico Jeanlending Yves Pigeon Dominion Centres vic City Mortgage group Dominion lending Centres vic City Mortgage group VERICO Select Mortgage invis inc. invis inc. invis inc.

Dundarave Mortgage Investment Corporation invis inc.

Dominion lending Centres Casa Mortgage inc.

Canadianalending Financial Dominion Centres Casa Mortgage inc. alliance Mortgage Meridian Mortgage Dominion Lending Centres Rochar services Financial alliance Mortgage Meridian Mortgage services verico Paragon Mortgage group inc Dominion Lending Valley Financial Specialists verico Paragon Mortgage group inc northern savings Credit Union northern savings House Credit Union Alpha Mortgage Corp Ecom appraisals inc.

Ecom appraisals inc.

Saggi Financial TMG Mortgage Centre Solutions - MortgageTBA Evolution Mortgage Centre - Mortgage Evolution Equal select Mortgages Co. Ltd. verico Mortgage Corp. verico select Mortgage Corp.

All Mortgages Financial invis - Mary Ellen ColmanInc. invis - Mary Ellen Colman invis inc. Mortgage Professionals Strategic invis inc. verico Mortgage Corp. Inc Vericoselect Boomerang Financial verico select Mortgage Corp. g & F Financial group VERICO Select group Mortgage g & F Financial invis inc. invis inc.Clear Trust Mortgages Inc. VERICO scotia Mortgage authority scotia Mortgage authority VERICO Clear Trust Mortgages Inc. invis invis VERICO Select Mortgage Dominion lending Centres | valley Financial specialists Dominion lending Centres | valley Financial specialists Argentumlending Ultimate Mortgage Finance Solutions Dominion Centres Drakeand Entrust Mortgage services Dominion lending Centres Drake Entrust Mortgage services MCaP service Corp.

Transunion MCaP service Corp.

Bayfield Mortgage Professionals ltd. Corp Casa Noble Real Estate Financing Bayfield Mortgage Professionals ltd.

Dominion lending Centres Innovativelending Mortgage Solutions Dominion Centres Bayfield Mortgage Professionals ltd.

Bayfield Mortgage Professionals ltd.

DLC - Liberty Financial invis inc. invis inc.

Dominion Lending Centres Oceanside lendingmax lendingmax Verico Select Mortgage alliance Mortgage alliance Homeselect Trust Mortgage CompanyCorp. verico verico select Mortgage Corp.

HomEquity Bank Verico Select Mortgage Corp.

HomEquity Bank strategic Professional inc.

The Mortgage CentreMortgage strategic Professional Mortgage inc. scotiabank Dominion Lending Centres Hilltop Financial scotiabank Dominion Macklem Mortgages DominionMacklem Lending Mortgages Centres Hilltop Financial Dominion Macquarie Financial ltd.

Macquarie Financial ltd.

Envision Financial the Mortgage group the Mortgage group VERICO Trustgroup Mortgages Inc. tMg theClear Mortgage Canada inc. tMg the Mortgage group Canada inc.

Dominion Lending Centers Valley Financial Specialists Dominion lending Centres Duet Financial Dominion lending Centres Duet Financial Dominion Lendinggroup Centres Trillium tMg the Mortgage Canada inc. Mortgage Corporation tMg the Mortgage group Canada inc. vERiCO superior Mortgage Dominion Lending Centres Hilltop Financial vERiCO superior Mortgage Exclusive Mortgage Professionals ltd.

Exclusive Mortgage Professionals ltd.

FIRST NAME FIRST NAME

Dimitri nicole Bradley Kerry gurjinder Brad george Hanny Randy Jeffrey gordon Christopher sherrie Owen Brody Chad Brian Jason Matt alfredo niall Laurie Erin Olivia Jordan shashi ida Jason Michelle susan Marion Sheela Darren Patrick Ilene graham Dulce Rod Rob Kirk Bilia Kim steven sarah Diana Peter laurie Doug Janine Jeff Candice Laurel Erik Paul Winfield laura Derek Susan sean Richard Karol Moreen alvin Denise Kyle tara gary Saskia sannie aaron Earle Jillanne Jan Paul James nishka lisa Margaret afsaneh Michelle Kristin Kristine Brett Kevin Mak Michael Shelley Jordan Kees nadine Mary saba Rinat Reed Elizabeth Carol Tran Joyce Mikaela Ryan Avtar stephanie Chris John sharon amarjit Cody Marcus Jennifer Grant lisa Henny lawrence Ruhi anny teisha Bruno

38

LAST NAME LAST NAME

Kosturos apps Harris lacroix athwal Herd lay au Hollands leung Beynon Hughes lofthouse Brown Hutchinson luider Buchanan lyne Innes Carrete Macnaughton Johnson Chadwick Martin Kissock Chander Martin Chapman Koo McEvoy Chekaluk Krishnan McQueen Cheng Kumar Meckling Coelho-Fedoriw Kurtz Mills Colman Minelli Langford Corcoran Montagliani Leung Daniel Morgan Lifford Davies Morgan Delorme Loxam nienhuis Devine Lui northrup Diener MacDonald Patterson Earles MacNaught Perimal Farmer Martin Radick Fels Ramwell Martin Del Campo Fisher Reece McCandless Ford Reynolds gillMcLaren Riley glasper Melling saffari Haddad Michael schenkey Hall Oake sidhu Hayward Semler simmonds Hendricks smith Shi Hessamian sneg Sumida Howatson song Thi Hubenig stevenson iannone Uppal storey Jimenez Villamin stromdahl Johal Watson stroud Jollymour Wheating thorpe Karbowiak tong Kaur tso Keith valko

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welcome COMPANY COMPANY

Dominion lending Centres valley Financial specialists verico select Mortgage Corp.

New City Financial Corp.

Dominion lending Centres aK Mortgage Plus inc.

Verico Select Mortgage Capital Direct lending Corp Macquarie Financial ltd.

Harbour View Mortgages MCaP service Corp.

Dominion lending Centres vic City Mortgage group Statesman Capital Corporation global Mortgage Corporation invis inc.

DominionHome Lending Centres Hilltop Financial Okanagan Buyer services invis inc. invis inc.

Verico Pipeline Mortgage Dominion lending Centres Casa Mortgage inc. verico select Mortgage Corp.

Global Mortgage alliance Mortgage Meridian Mortgage services tMK Mortgage Centre Dominion Lending Centres Hilltop Financial verico Paragon Mortgage group inc lendingMax northern savings Credit Union Inc. VERICO Clear Trust Mortgages iPC save inc. (Osoyoos) Ecom appraisalsFinancial inc.

All Mortgages Inc Meridian southwest Mortgage Mortgage Centre - Mortgage Evolution MFC inc.

Morgage Finder Centres LTD. invis verico select Mortgage Corp.

VericoaBC Select Mortgage verico invis - Mary Ellen Colman Dominion lending Dominion LendingCenters Centres Hilltop Financial invis inc. verico zanders & associates Mortgage Brokers inc Vericoselect Clear Mortgage Trust Mortgages verico Corp. northern savings Credit Union Doug Lifford - group National Mortgage Services g & F Financial terrapin Mortgage investment Corp invis inc.

DLC Harbour View Mortgages Corp Dominion lending Centres Drake Entrust Mortgage services scotia Mortgage authority Verico Clear Trust Mortgages Inc global Mortgage Corp invis Complete Mortgage Services axiom Bayfield Mortgage Professionals Dominion lending Centres | valley Financial specialists TMG The Mortgage Group invis inc.

Dominion lending Centres Drake Entrust Mortgage services Dominion invis inc. Lending Centres Hilltop Financial MCaP service Corp. verico lighthouse Mortgage Corp.

Dominion Lending Centres Hilltop Bayfield Mortgage Professionals ltd. Financial Harbourview Mortgages, Dominion lending Jones Brown Dominion lending Centres ResMor trust Company Bayfield Mortgage Professionals ltd.

Seaboard Mortgage Corporation verico gibbard Hoffart Financial group invis Selectinc.

Mortgage Corp vancouver Mortgage tMg Corp lendingmax Dominion Lending Centres Hilltop Financial invis inc.

Mortgage alliance DLC Interest Advantage Bayfield Mortgage Professionals ltd. verico select Mortgage Corp.

Bayfield Mortgage the Mortgage CentreProfessionals - island Properties HomEquity Bank invis inc.Clear Trust Mortgages Inc. VERICO strategic Professional Mortgage inc. vERiCO Covengo mortgages inc.

Marketplace Mortgage Company Inc. scotiabank Dominion lending Centres VERICO Vivid Mortgage Inc. Dominion Macklem Mortgages invis - Resvick & associates Mortgage advisors Macquarie Financial ltd.

Mortgage Alliance Now Mortgage Solution invis inc. the Mortgage group Verico Clear Trust Mortgages northern savings Credit Union tMg the Mortgage group Canada inc.

Casa Noble Real Estate Financing Bayfield Mortgage Professionals ltd. Corp Dominion lending Centres Duet Financial Verico Primex Mortgages Universal Mortgage architects tMg the Mortgage group Canada inc. tMg the Mortgage group Canada inc. vERiCO superior Mortgage verico Paragon Mortgage group Exclusive Mortgage Professionals ltd.

ResMor trust Company

A B C Beyer M Mortgage I SS I services O N S T A T E M E N T inc.

vickers lending Mortgage Brokers Association Dominion of British Columbia’s mission is to provide its members with the best Dominion lending Okanagan ethical guidance and professional representation, while increasing consumer Whiteby advocating mortgage invis onbrokers the Peninsula awaremenss as the number one choice for mortgage financing.

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11-01-28 12:33 PM

WINTER 2011 the bc mortgage broker WINTER 2012 || the bc mortgage broker

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