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Mortgage Broker News | 19 Jul 2011, 02:00 PM Agree 0
2010 was a good year for Canadian mortgage professionals. Just check the numbers.
  • ON Broker | 19 Jul 2011, 04:16 AM Agree 0
    This list is a joke. There are 6 names on here that I know 100% that the entire office has to submit under thebrokers name, I worked there. Also, with many broker networks not participating in this program and until all do, how can this be classified as the top 50. Bad accounting, pooling business, brokers having all deals submitted under their name, this is nothing more than self glorification for insecure brokers. Until all accounting and audits performed by CMP magazine are open for public review, this is a joke. CMP states they do the audit, must be pretty bad auditors as I know personally of numerous names on the current list and their numbers are not just theirs. BIG JOKE.
  • REC | 19 Jul 2011, 04:39 AM Agree 0
    On Broker- Seems like a bit of sour grapes to me.....
  • Ron Butler | 19 Jul 2011, 04:51 AM Agree 0
    The rules are actually very clear and I am quite certain CMP investigates the volume reports within the limits of what the Privacy Act and common sense allows. Some of us choose not to participate for a variety of reasons and every established broker knows this is not the definitive list for mortgage volume in Canada. That being said, there is no reason to attack the list except as REC suggests: sour grapes.
  • ON Broker II | 19 Jul 2011, 04:52 AM Agree 0
    REC, I happen to agree with ON Broker. Just a quick run down the list and I can see at least 3 names that I know for a fact are Teams submitting under one broker's name. If I had of known the rules would be this relaxed then I would have submitted my own name and placed in the top 25 but then again I work for a brokerage firm that prides themselves as not manipulating and playing by the rules.
  • ON Broker II | 19 Jul 2011, 04:55 AM Agree 0
    cut and paste of the rules noted at the top of this page: and the deals must have been personally originated by you (back-office support in processing the loans is acceptable, but no other parties have been paid commissions on the deals).
    I can hardly wait to hear the stories the top 10 will make to help justify their positions as single source originators of the business.
  • Terry | 19 Jul 2011, 05:36 AM Agree 0
    Oh well. I have no other Brokers working under my roof for volume or what have you. It's just little ole' me helping clients out there. My numbers over exceed all the above. Sounds like I had a really good year in the business, but am not one that needs a crown on my head or the glory for the hard work I put into the business of trying to help people out there. But than, I don't watch the Academy Awards either, as it is all about the boasting of the wears anyway! Have to get to work now.
  • noname | 19 Jul 2011, 05:57 AM Agree 0
    Yeah I agree, this and the CMP awards are questionable. Companies and individuals who give larger corporate sponsorships and/or attend functions have a better shot at winning awards. Also, pooling deals definitely benefits some brokers as far as total volume reported. CMP/Key Media is set up to make a profit from the mortgage industry, and until that changes you can expect biased results.
  • Ont Broker | 19 Jul 2011, 06:36 AM Agree 0
    Google a few names and tell me that these people are operating as individuals. Some are even listed on their own websites as partners, i.e. Sarah Makhomet & Jonathan Tillger not to mention approx 26 other agents in the same DLC office???
  • noname2 | 19 Jul 2011, 07:04 AM Agree 0
    can't agree more with noname
  • BC Broker | 19 Jul 2011, 12:00 PM Agree 0
    Not to mention all the high volume brokers that chose not to submit themselves. With the various real estate boards it is usually black and white who are the top realtors. Because there is no real tracking method here it is just an exercise in selling trade magazines and brokers thumping their chests. No disrespect to gorillas here.
  • Re/Max agent | 20 Jul 2011, 02:43 AM Agree 0
    Why don't they do what we do on the real estate side. Distinguish between teams and individuals and identify team members.
  • Ottawa Broker | 20 Jul 2011, 03:16 AM Agree 0
    CMP would go a long way justifying themselves as a professional part of our industry if they would drop their lists and awards as very few of the top brokers and broker houses partake in these awards. They are definitely not accurate and lend to unprofessionalism when you have a broker stating to the public he/she is a top 50 broker. Stick to your informative articles CMP (which is good reporting) and drop the awards ceremony and Top 50 list. Thare is no need for these self serving lists and awards. The professional brokers and lenders pay no attention to them.
  • BCBroker2 | 20 Jul 2011, 03:36 AM Agree 0
    The volume pooling makes this a farce, but not to the degree of the real top 50 wanting to fly under the radar and not enter.

    Hard to believe that $42M would put you in the top 50 originators in Canada.

  • BC broker | 20 Jul 2011, 04:59 AM Agree 0
    Wow sour grapes is an understatement, take a look in a mirror before pointing fingers & making these kind of comments; these people deserve to be in the top 50 & CMP make the criteria clear!! Why do people always point to finger at DLC, they are clearly dominating, figures speaks for themselves!!! Congrats to "ALL" the top 50 not just the DLC group!! Way to represent the industry!
  • Ont Broker | 20 Jul 2011, 05:24 AM Agree 0
    BC, the only mention of DLC anywhere in the comments was mine so I will respond. Why is it you address the use of the name DLC but you don't take time to address the issue that the same Broker is listed on their own website as a Team but have qualified in this so called top 50 list as an individual. I agree 100% if you deserve to be in the top 50 so be it but CMP advertises this as the definitive top 50 list in Canada whereas it is anything but.
  • BC broker | 20 Jul 2011, 06:13 AM Agree 0
    For what its worth Ont broker, no upset meant in my comments; I know alot of these brokers personally, these are individual stats not "franchise figures", as a group/team/franchise they do a lot more combined volume than the posted figures, some run into the hundreds of millions of dollars in annual "franchise volume"; just wanted to make this point & defend the individuals on this list who work hard for these figures!!
  • @kiltedbroker | 21 Jul 2011, 03:00 AM Agree 0
    Lets be clear as to what this list is, it is a list of the top 50 brokers for funded volume in Canada for brokers who submitted their names to be counted.

    I wonder what a Top 50 List would look like if rather than using mortgage volume as a primary criteria we used funding ratio instead? I am much more interested in knowing which brokers/brokerages are being efficient in how they do business.

    Maybe set a $10M minimum funded amount and then compare funding ratios? I wonder how many people would appear on both lists?

    Probably not a new idea, but just like rate, volume isn't everything in this business. #mortgagerevolution
  • BC broker - Mortgage Centre | 24 Nov 2011, 08:06 PM Agree 0
    The comments are very interesting and everyone in our industry knows that there are those high volume producing brokers that choose not to participate for a variety of reasons as Ron Butler stated. This is the first year I decided to participate and could have participated in previous years at the same timing knowing I would have not made the list any year if majority of brokers participated. In previous years I would see this list and would think good job as we are all fortunate to be in such a great industry. The reason I decided to participate this year was because I read an article in a mortgage magazine on a new broker who commented on how this list helped him determine which broker/company he would join. He said he joined a broker/company from this list because he wanted to work with someone who was successful and at that time I was in the process of eventually opening up a franchise and thought this could potentially help recruit brokers down the road. One of the newer brokers in our office said he saw my name in the magazine and said congratulations and I said it is not a big deal and his comment was it feels good to work in an office of a successful broker. By no means am I near the top and think of myself as a successful broker but do decent volume and it has afforded my wife and I a life we could have never imagined which I am very grateful for. I do work very long hours which I am sure everyone on this list does, regardless if they pool their deals or not, because I love what I do not to mention the financial return. Normally I don't get involved in these type of forums but the comment about "brokers thumping their chest" was very uncalled for and that is what made me respond. The one think I dislike more than anything in this industry is successful brokers who have an attitude as they should just be grateful for an awesome business. I met Greg Martel from DLC at a golf event and he was in the foursome just behind my group and we introduced ourselves briefly. He seemed like a very nice/modest person which is refreshing because I found out later he is a high producing broker and on the flip slide I have met brokers who have an attitude because they do alot of business.

    Over the years I have seen the CMP top 50 lists and I know some brokers pool their volumes but I could care less and this is the first year I read comments regarding this list and I was quite surprised that it bothers other brokers.
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