Now-former BDMs for FirstLine are thanking brokers for an overwhelming show of support as they continue with job searches in an increasingly “iffy” market.
“They’ve been great in phoning and emailing to offer references and referrals and just assistance in helping me find a new position,” one regional business manager for FirstLine told MortgageBrokerNews.ca Thursday. “It’s really been a testament to the strength of the BDM-broker relationship and its importance to lenders.”
At least one other BDM for the shuttered mono-line in now voicing the same gratitude for broker-clients who’ve inundated him with offers of help. Both BDMs spoke to MortgageBrokerNews.ca on condition of anonymity and in consideration of their ongoing job hunts.
More than 20 industry professionals have been actively looking for opportunities within the broker channel since FirstLine officially closed its doors on July 31. Some of the underwriters have, in fact, been transferred to duties within CIBC, with Pacific Mortgage Group announcing FirstLine’s former VP of Sales for Western Canada Shane Lapointe would join the organization as a regional VP for Radius.
Many of his former colleagues continue to search, although some are now exploring opportunities within the Big Five organizations.
The collective job search comes as key players in the broker channel reassess the role of BDMs and underwriters.
we are planning to introduce BDMs next year. But their duties will be focused on where they are really needed: bringing in new business and troubleshooting in cases where we see a significant drop-off in deals being submitted by an existing broker partner and need to find out what we need to do to change that,” Nick Kyprianou of Equity Financial Trust told MortgageBrokerNews.ca late last year. “But in all other cases, our underwriters will deal with existing broker clients directly.”