Eisner applauds Mauris might & O'Leary exit

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He may be one of the industry’s most ardent supporters of the free market system -- and a former contestant on Dragons’ Den -- but a leading Calgary broker is thanking Gary Mauris for confronting Kevin O’Leary’s “supreme case of bad etiquette.”

“I really congratulate Gary for showing the leadership we needed on this,” True North Mortgage head Dan Eisner told MortgageBrokerNews.ca “It seemed that a lot of us knew this was wrong, but were standing around. He took action.”

The comments echo those of brokers from across the country, reacting to news O'Leary has now withdrawn plans to address the Mortgage Forum. Earlier, Mauris pulled Dominion Lending sponsorship of the O’Leary presentation.

The controversial TV personality was to have offered a keynote speech, even after MortgageBrokerNews.ca revealed he was effectively readying to compete against mortgage professionals, originating his own brand of mortgages outside the channel.

He will, however, use a mortgage servicing company from within that broker industry.

Those well-developed plans suggest O’Leary erred in agreeing to take the speaking contract for the Forum, said Eisner, who took his successful brokerage model to the Dragons’ Den in 2007, winning the interest of three of those fire-breathing financiers, including O’Leary.

Ultimately, Eisner would go his own way, he and the Dragons unable to come to terms.

“Kevin going to CAAMP would have been a slap in the face to brokers,” said the brokerage head and the No. 1 originator on this year’s CMP Top 75. “It’s just bad etiquette, especially considering he was getting paid. He should have been paying to go to the conference.”

CAAMP itself appears to have arrived at the same conclusion.

"Kevin O'Leary was contracted last spring to speak at Mortgage Forum 2012 and recently announced the launch of O'Leary Mortgages," writes CAAMP in a release issued late Tuesday and following a MortgageBrokerNews.ca article outlining the depth of broker opposition to his planned appearance."It has been CAAMP's long standing policy that industry participants not be featured as keynote speakers. Kevin O'Leary is mindful of the situation and has withdrawn from participating in Mortgage Forum 2012."
  • Bill Jones on 22/11/2012 9:44:21 AM

    I applaud Dan for applauding Gary. Surely my stance is headline worthy?

  • Al on 22/11/2012 11:29:39 AM

    What a joke. The online rate discounter that end runs brokers using our own compensation models calling the o Leary kettle black. Dan stay out of the media. You don't help yourself. Too funny.

  • Rob on 22/11/2012 11:36:58 AM

    O Leary mortgage. I dont think its viable. But would like to hear anither bhainess persona perspective. Why drum his opinion out of the industey. We won't learn. So I am envisioning a travel agent conference banning Travelocity or chapters conference banning amazon. I'm sure o Leary is not amazon. But I'd surely like to hear what his perspective is. He is putting his money where his mouth is and getting into mortgage biz. That's. vote of confidence. But what does he see broken that is an opportunity to fix. What a shame. An opinion bullied away. And caamp has no guts

  • Arthur G on 22/11/2012 2:12:33 PM

    We have had nothing but exit after exit n this industry, along with bad media about the mortgage market . A high profile Canadian announces he is entering the market ......finally positive news ! I suggest Kevin consider the GIC broker market, perhaps that industry is more professional.

  • RHÉAU SÉGUIN on 22/11/2012 6:43:31 AM

    THIS MAN IS NOT PROFESSIONAL, WE NEED TO KEEP HIGH STANDING IN OUR BROKER'S REPUTATION, WE WORK TO HARD TO MAINTAIN A GOOD REPUTATION.

  • Marcus Keller on 22/11/2012 7:18:04 AM

    Dan Eisner take Kevin's place

  • Bill Jones on 23/11/2012 2:00:16 AM

    You make a good point "MG Broker". I'm also sort of sick of brokers posting anonymously.

  • MG Broker on 23/11/2012 6:56:38 AM

    Welcome to the internet age.

  • Al on 23/11/2012 12:43:46 PM

    MG Broker - you didnt get the joke.. He meant you are anonymous What a "clown"

  • Peter on 22/11/2012 9:10:04 AM

    So u guess you will be exercising your own good etiquette as a similarly broker unfriendly model and staying away from caamp this year too Dan.

  • MG Broker on 22/11/2012 2:30:04 PM

    I am sort of sick of all the brokers (like here in the thread) whining and complaining about Eisner and Oleary...have heard of a free market concept?

    If Eisner wants to do mortgages at less commission and undercut you...and some clients prefer to go that route...so be it. Or do you feel that it is your God given right to earn 105 BPS on every application you input into filogix?

    What a bunch of clowns, maybe instead of crying all day long do something creative instead of being 'just another broker'.

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