MonsterMortgage.ca is proud to be one of Canada’s Top Independent Mortgage Brokerages in 2019! Read on to find out what we have to say about our path to independence and how it has built a strong foundation for our business!
CMP(Canadian Mortgage Professional): What is the biggest advantage of being an independent brokerage?
MonsterMortgage.ca: The biggest advantage of being independent is that smart lenders value our offering for the benefits we provide them. The fact that we don’t cost lenders more to deal with is an advantage that has benefits beyond compensation. We can be part of the solution to enhance efficiencies and the client experience. We do believe that offering a relationship committed to improving the client journey to a lender that solely is not based on top compensation is a win-win for our lender relationships.
CMP: Do you think brokers affiliated with a network have an easier time building a brand? What do you do to cultivate your brand and make it memorable for clients?
MonsterMortgage.ca: We don’t think brokers affiliated with a network have an easier time building a brand. MonsterMortgage.ca puts its “money where its mouth is” and has been recognized for it. As long time resident experts of the weekly real estate call in show Hot Property on CP24 and three time winner of the Canadian Mortgage Award’s Mortgage Brokerage of the Year. We are recognized annually with various industry and lender achievement awards for our customer service, education and expertise. In addition, we have partnered with the City of Toronto since 2006 in helping to raise over $5 million for Toronto’s seniors through the annual MonsterMortgage.ca Toronto Challenge.
CMP: What are the biggest issues facing the broker industry today?
MonsterMortgage.ca: Adapting to change and lack of training would be at the top of the list. We find that setting the proper expectation in the new mortgage lending landscape is key to enhancing the client experience. Lender response times are impacted with mortgage broker inability to adjust with the new rules and policies in place. Training should have been paramount prior to the rule changes by all mortgage brokerage houses which could have anticipated the bottlenecks experienced in 2018.