The founder of MortgageBrokers.com is defending the company against critics who charge its brand viability has been challenged.
“I always question the integrity of people who make disparaging comments about others in a public forum and then conveniently fail to leave their real name,” says Alex Haditaghi, founder and vice chairman of Pacific Mortgage Group, parent of MortgageBrokers.com. “What type of person makes such comments about one of the hardest working and best managed teams in the industry. It most definitely is someone who is far removed from the situation and very much lacks any real knowledge about it. Let me set the record straight.”
Haditaghi’s own comments come after MortgageBrokerNews.ca reported that Pacific is set to fold MB.com into the Mortgage Architects brand, effectively retiring the other.
In a letter sent last week to broker-partners via email, MortgageBrokers.com President Dan Putnam outlined the plan that will see MortgageBrokers.com brokerages, brokers and agents rebrand and then operate under "Mortgage Architects."
That transition should be completed by the start of the spring 2012 market, with MortgageBrokers.com pledging to assume re-branding costs for brokers and agents around changing business cards and signage.
Haditaghi isn’t addressing those developments, but defending a business he started in 2005.
“MortgageBrokers.com was the first publicly traded mortgage brokerage in Canada,” he writes, as part of a comment posted on MortgageBrokerNews.ca “The purpose of it being public was to be completely transparent to our brokers; to gain access to a wide network of potential partners that could help us build a full service financial services company expanded outside of brokerage; and to create access to growth capital. We feel that we have accomplished all of these.”
He also addressed growing concerns about the viability of broker networks as they currently exist.
“In general, brokerage operations are break even enterprises at best,” he said. “We don’t feel the end goal is create a national brokerage - it is the starting point. The broker market is losing ground and we need to begin to think differently and invest in our brokers to allow them to have the tools and capabilities to more fully service the Canadian consumer - or else our industry will continue to be marginalized. Through affiliated businesses in the lending and insurance markets (manufacturing), our company is able to continue to invest into our brokerage network (distribution).”
MortgageBrokers.com has had a significant role in creating that success, said Haditaghi, pointing to several key areas.
“I am very proud of our accomplishments, the support of our brokers and of having the industry’s best management team bar none,” he writes. “In five short years, I was able to:
1. build our organization and be recognized by profit magazine as the fastest growing emerging growth company in Canada by Profit magazine;
2. Secure the resources to acquire a billion dollar portfolio lender and a quality national brokerage almost three times as large as ourselves. We are now the only brokerage in Canada that has it’s own CMHC, Genworth approved lender with in excess of a billion dollars of assets under administration and growing;
3. be the only company in the industry with a world class blue chip board of directors including Alfred Apps, the right Hon. James Peterson; Barry Pickford, and Todd Halpern; and,
4. Attract one of the best management teams in the industry led by Ron Swift including Alice Chan, Dong Lee, Dan Putnam, Meini Eckert, Joanne Vickery, Luisa Simonetti, Raj Singh, Suzanna Stefanec, Lorraine Sato, George Zhang, Gary Cilevitz, Robert Hyde,…”