Brokerage adopts new underwriting model

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A large Toronto brokerage may be leading the way with launch of a flat-fee-per-transaction model for its new centralized underwriting service.

"We are excited to offer this valuable service to our team of mortgage professionals to help them to serve the mortgage needs of their customers more effectively,” says Chris Karram, Safebridge Financial’s co-CEO. “It is similar to having a part-time support team without the hiring, managing, financial commitment and accounting that goes with it.”

It’s also a model that charges agents a flat fee for every funded deal that goes through the centralized service. That's instead of demanding a higher split for the brokerage, a system much more common to the industry. Ostensibly, the Safebridge model allows agents more leeway to pick and choose which of its deals to send through the system.

Bringing the unit under the management of a former underwriter with National Bank is another bragging point for Karram, pointing to a Feb. 19 launch.

“We are just as thrilled to partner with Ahilia Somai, to help us build and create this new platform,” he told “Our new centralized underwriting service department is a first for Safebridge, and a first for a mortgage broker of our size.”


  • A Broker on 2013-02-07 2:53:10 AM

    There are so many agents now that do not know any longer if they have an actual deal or not because thy have no idea how to underwrite or understand the deal. This leads to a gross misrepresentation to the client when you have these people assuring the client the deal can get done simply based on filling in the spaces on an application. If an agent cannot determine quickly if, how and where a deal should be done in the initial conversation with the client and input it into Filogix and off to the lender they should not be in the business.

  • Broker3 on 2013-02-07 4:29:49 AM

    This service is not for new Agents. It is more for experienced Agents/Brokers who are successful in their own right but don't want to spend the money on a full time assistant. Instead, they can send deals through this service, have the Underwriter prepare all the documents, order the appraisal, communicate with the Lenders, process the paperwork and ensure every single detail is accounted for from a compliance stand point. My understanding is SafeBridge only takes full time professional people so this is an elite service and should be treated that way!

  • J. Butler on 2014-01-17 1:17:36 PM

    So 'A. Broker' is saying no one 'new' should come into the industry. Everyone should just be experienced, washed up agents/brokers. everything it takes some time to learn and this Safebridge appears not only helps the experience reps, their plan can also help the up and comers who will take over for the washed up ones.

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