CIBC’s shutdown of FirstLine appears to have done little to stem the flow of brokers looking to join the Mortgage Centre, said the network’s president, pointing to an unbroken chain of inquiries.
“Despite all the talk and buzz about FirstLine, it hasn’t affected MCC at all in terms of meeting its growth objectives,” Eddy Cocciollo told MortgageBrokerNews.ca. “I think many brokers are looking for a connection to CIBC and PCF, definitely.”
At least two brokers within the network are going one better, telling MortgageBrokerNews.ca that they’ve seen a modest uptick in agents looking to join their teams and directly pointing to its access to PC and CIBC product.
The thinking is that being part of that network will afford them a competitive advantage over brokers outside the group. It’s something other mortgage professionals have been quick to reject.