​Exclusive: Independents join in coalition

​Exclusive: Independents join in coalition

​Exclusive: Independents join in coalition Six Canadian independent mortgage brokerages announced today their inaugural membership in the Coalition of Independent Mortgage Brokers of Canada (CIMBC).

Membership includes CLN Mortgages, MonsterMortgage.ca, Mortgages Edge, Oriana Financial Group, Taurus Mortgage Capital and Intellichoice Mortgage.

"We realized that to initiate meaningful new ideas regarding improved best practices which would serve to strengthen partnerships, we could not rely on the efforts of each of our companies alone,” Raj Babber, member broker of CLN Mortgages said. "Rather our coordinated efforts to best leverage our origination power for positive change, and support from other successful like-minded independent mortgage brokerages in our industry, would help create the scale necessary to elevate our industry to a higher level of standard."

According to the official release:

CIMBC is a coalition of independent mortgage brokerages that strives to bring important change to the mortgage brokerage industry, and to strengthen the representation for independents. CIMBC intends to introduce new initiatives that will shape the industry with improved efficiencies in various areas of the mortgage origination process, from the initial solicitation and application, right through to funding. It plans to employ new metrics and practises that will enhance the broker/lender relationship, and improve the business of mortgage professionals. 

By working together to form a new and higher standard for the industry, the coalition’s objective is to provide the broker community enhanced consistency, improved efficiencies, and most importantly, increased profitability to the lending community, which the coalition feels will ensure sustainability for the long term. 

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14 Comments
  • M. Robertson 2014-11-21 3:32:21 PM
    Isn't that in reality what Axiom and other "co-operatives" started out as?
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  • Victor Simone 2014-11-21 4:20:12 PM
    I think there is a place in the independent brokerage community for another voice at the table. Mr. Babber at the table surely makes me feel alot better about the independent channel moving forward. Godspeed.
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  • Ron Butler 2014-11-21 4:55:20 PM
    I want to congratulate all of those involved in The Coalition. This group of brokerage owners represent some of the finest people and most successful brokerage owners in this business; they have vision, ability and vast experience and I think this is going to be a big success.
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