Superbrokers 2009

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MorCan Financial

Number of agents: 150
Established: 1997
Compensation
- Commission splits not specifi ed but described as "aggressive" and based on volume thresholds
- Agent's split affects all volume bonuses in accordance with the compensation package offered at the time agent joins
- If someone leaves the company, the trailer fees follow contractually
Brokering Model
- Franchise opportunities available
- There is no franchise cost to the broker who opens up a branch office
- Require that agents sign and adhere to the Morcan. Code of conduct and regulatory body in the provinces in which they operate their business
- Operate in Atlantic Canada, Ontario and Manitoba. Expect to launch in Alberta and B.C. by year-end
Ancillary Service
- Leasing program
- Centralized underwriting
- Alternate Financing Solutions program
- Journaling and best practice forum
- Morcan creditor insurance
Lead Generation
- Brokers/Agents generate own business
Compliance
- All staff and brokers/agents must be fully compliant and adhere to provincial regulations
Payroll
- Upon receipt of an audited, completed file and receipt of the finder's fee from the lender, agent will be paid electronically into their account every two weeks.
- Process also applies to all volume bonus payments and trailer fees. Payment must be received by the lender five business days before the pay day.

Next page: Dominion Lending Centres


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  • Emy on 2010-01-31 3:39:01 PM

    Wow. The attempt to mislead is so obvious here. What sort of Canadian superbroker list leaves out a Canadian brokerage with over 1200 mortgage agents? This site is definitely OWNED by those who want to present a very skewed view of the industry. You just lost ALL credibility.

  • Editor on 2010-02-02 12:46:58 AM

    I appreciate your concern, but I just want to highlight an important part of the feature below:

    "While several national brokerages opted to tell all and completely answer every question, some others selected to only answer specific questions for privacy reasons, while others still decided not to participate altogether or simply did not answer repeated e-mails and phone calls.

    With the missing entries this survey is obviously not what you would call a complete coverage of the brokerage market in Canada, but it does include information from leading brokerages all across the country and serves as a great reference tool ... etc"

  • Gregory B Stanley on 2010-02-07 6:33:13 PM

    Curious what 'Canadian brokerage that represents over 1200 mortgage agents' couldn't be bothered to answer a simple survey, after being asked repeatedly? How embarrassing for you that they didn't... perhaps they would have looked in good stead with the others. Or maybe not... I don't blame you one bit for being upset for them not being listed. I would be too.

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