CAAMP knew O'Leary Mortgage's plans says exec

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CAAMP knew for weeks that Kevin O'Leary was entering the mortgage business, the head of his new venture told MortgageBrokerNews.ca Friday, at the same time mending fences with mortgage professionals.

“The speech organizers at CAAMP had known for weeks that we were entering this industry,” Alex Kenjeev, CEO of O’Leary Mortgage said in an email to MBN. “It seems the problem was that somehow the sponsor, Dominion (Lending Centres), wasn't in the loop.  It's a shame because they're a good company and we had no intention of antagonizing them.”

The O'Leary Mortgage exec also took pains clarify his company's position.

“First, the idea that we’re against mortgage brokers is false,” Kenjeev said “…Second, somehow there is a false rumour that Kevin had planned on using his appearance at CAAMP to promote O’Leary Mortgages. That was never the case and we issued a clarifying statement to this effect a week ago when the rumour first broke.”

He said O’Leary Mortgage is “carefully” looking into how it can work with brokers down the road as the company grows.

Mortgage brokers took exception to Kenjeev’s Twitter post last week which denoted that he was taking satisfaction over the heated response O’Leary Mortgage received from mortgage professionals following O’Leary’s announcement that his recently launched mortgage origination business will employ a direct-to-consumer approach bypassing brokers.

“I love it. @OLearyMortgages *already* ruffling our competitors' feathers!” Kenjeev tweeted last Thursday.

O’Leary was contracted by CAAMP to speak at the organization's event in Vancouver, however, Dominion Lending Centres which was sponsoring the segment decided to pull out its sponsorship after hearing of the TV personality’s plans. CAAMP subsequently announced that O’Leary pulled out of the engagement.  At present, O’Leary is staying at the same hotel that's being used for the conference although he is not expected to attend the event.

 

 

  • Ivan in Toronto on 27/11/2012 5:25:30 AM

    CAAMP is run by amateurs. That's why this all happened.

  • Tyler P on 27/11/2012 11:24:21 AM

    Hey Ivan, couldn't agree with you less.
    I hear MORTGAGE FORUM 2012 is a wow! Can't understand why CMP always concentrates on the negative. There are so many great things to talk about when it comes to our industry!

  • Rick Lunny on 28/11/2012 7:20:51 AM

    Some brokers forget that CAAMP is a mortgage professionals, not broker organization. Even if Mr. O'Leary's company competes with brokers he has a right to be heard. While I agree one doesn't wish to sponsor a competitor, perhaps other arrangements could have been made. After all there are bank members of CAAMP that don't deal with brokers.

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