Choosing a broker pays $100,000

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There is poetic justice in a woman winning $100,000 from the brokerage that secured her mortgage from the bank that originally turned her down.

Maria Martinez is this year’s winner of the Mortgage Alliance Minimize Your Mortgage Sweepstakes, and while she may not describe herself as particularly lucky, her broker does.
“I am the lucky person for her walking into my life as a broker,” says Eduarda ‘Eddie’ Pita, the mortgage agent who added Martinez to her client book in April of last year. “I told Maria, ‘everything has a purpose in life.’”
It all began with divorce proceedings for the Martinez family last year, when Maria was declined by her local bank branch after she applied for a mortgage to pay her husband as part of the separation agreement.
“The bank declined her, and she was referred by the local branch to me,” Pita told “I put it back to the bank that declined her, and she was approved by the very same branch.”
Many times people don’t know how to ask the right questions when applying for a mortgage, she says.
Martinez plans to use the money to help pay off her husband on the mortgage, and to take her two daughters, Kayla and Kathy, back to Portugal to visit with relatives.
That’s something $100 can’t buy.
“When I called her and told her she had won, she asked me ‘a hundred dollars?’” laughs Pita. “I told her no, $100,000. She broke into tears.”
The cheque, presented by Mortgage Alliance President and CEO Michael Beckette, represents a total of $600,000 that has been given away in prize money since the contest began in 2007.
  • Ron Butler on 2013-03-19 9:43:55 AM

    Set aside the contest; this is a great story about a terrific mortgage broker solving a big problem for her client. It really illustrates what a great mortgage broker can do for a client who needs help. Eddie is a well regarded broker in Toronto who not only does a huge amount of mortgages every year but also is great at helping clients in just these sort of difficult situations.

  • George Christopoulos on 2013-03-19 11:51:16 AM

    Well done Eddie. Great example of how brokers differ from a bank's and bank road reps. The $100,000 is icing on the cake.

  • Mike on 2013-03-20 10:06:42 AM

    I'm happy to see a success story in the broker community and recognize this broker's skill in getting the client approved.

    My question though is why send it back to a bank, or even to a bank ever, as a broker?? Maybe I'm missing something in the broker-bank relationship. Currently though, I can't fathom why brokers in the community are sending business to TD, Scotia, or National to a lesser extent. We compete directly with the banks so why collectively feed them!? I believe we should use the monolines, wherever possible, and support them as they're our best partners.

    Any insight out there?

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