MAC breaks ground with value-added mortgage for first-time buyers

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First-time homebuyers have traditionally been an important segment of the market for mortgage brokers and a new product from Mortgage Alliance aims to strengthen that relationship.

My First Mortgage, which offers customers a competitive rate also includes: all the legal costs and title insurance. But there’s more. The first-time buyer also receives home insurance coverage for six months and six month’s of creditor life insurance coverage.

The announcement was just one of many made in Toronto on Thursday at Mortgage Alliance’s annual Kick-Off Rally. The event brought together more than 500 members, while others in Calgary and Vancouver watched the action on live streaming video. The event also featured a trade show exhibit in all three locations featuring MAC’s lenders and ancillary strategic partners.

Mortgage Alliance president and CEO Michael Beckette called My First Mortgage “an attractive product that’s been bundled with the essential service and insurance products in an all-one-one mortgage.

“We wanted to focus a product that will help grow our broker’s business amongst our most important consumer group AND that will appeal to our broker’s realtor partners,” said Beckette.

The new product offered exclusively through Mortgage Alliance brokers and agents will be immediately available to all Ontario residents with plans to roll out the brand nationally over the next few months.

Another major announcement made at the show was the unveiling of a new Mortgage Alliance web-only commercial to be aired on the company’s website in late February at the same time a new national radio campaign will be launched featuring the company’s $100,000 “Minimize Your Mortgage Sweepstakes Promotion,” now in its fifth year.

The ad features a fictional “Director of Apology” spokesperson that apologizes to the viewers for the injuries that keep happening to customers celebrating after they’ve received the good news from their Mortgage Alliance professional.

Louie Bettio, Brand Champion of Mortgage Alliance told that the on-line commercial was created for two reasons. “Recent research conducted by Microsoft and Neilson’s media measurement demonstrated that consumer’s ‘likeability’ towards a company – especially in the financial services industry – is significantly increased when they see an original on-line video ad versus a repurposed TV commercial.

“Also, we wanted to take an otherwise stressful situation for a consumer and add some levity into the process, affecting favorability towards the brand and moving the consumer from consideration to conquest – in order to further grow our broker’s business.”

Still not done, MAC announced the launch of a new integrated and automated consumer correspondence program. The system called “IMPACT” will be a strategic advantage for brokers to stay in-touch and top-of-mind with consumers for both retention and referral building opportunities, according to Beckette.

“As we’ve learned and seen through the recent Maritz broker research, 67 per cent of brokers don’t contact their client post-deal,” he said. “Over the past seven years we have aggressively focused on helping out brokers build stronger broker-client relationships.  Systems like MortgageBOSS help our brokers generate better 'prospect-to-customer and customer-to-repeat customer conversion.'”

In a philanthropic note, Beckette, who was recently named Honourary Chair, announced that Mortgage Alliance has pledged to raise more than $200,000 towards The Weekend to End All Woman’s Cancer Charity in 2012.

  • Kevin Mercier on 2012-01-28 4:41:25 AM

    I'm so proud to be a part of the Mortgage Alliance family. I look forward to continually raising the bar with our team as we all do our part in making the mortgage broker industry a thriving one. Our BC event at the Delta Hotel/Grand Villa Casino in Burnaby hosted over 100 people including Mortgage Alliance brokers, lending partners and insurers. Congratulations to all of are award and R and R trip winners in 2011. 2012 is going to be another great year with the Mortgage Alliance Family.

  • Hani Faraj on 2012-01-28 5:46:34 AM

    MyFirst Mortgage is going to be huge. I already have people asking about it. Go MAC, Go MAC.

  • Susan Reid on 2012-01-28 7:04:17 AM

    I am so Happy to be part of such an inovative company..Thank you Head Office for helping the brokers in the field once again.

  • Christina Horvath on 2012-01-28 8:12:36 AM

    Truly, first time home buyers will benefit from this new mortgage product. I am looking forward to offering it to my clients!

  • Syed Zaidi on 2012-01-29 9:52:39 PM

    In this busy and fast life no one has time to share with others. This is the management, staff of Mortgage Alliance who not only shares their time but also constantly involve their Partners, Associate, Brokers and Agent by inviting them to participate in different activities, like training, updates, new products awareness. This creates a family atmosphere where everybody is taken care, participant and actively involved.
    This business needs a lot of patience especially at start-up. It is hard to wait for someone to show up at your shop and ask for mortgage. Only we can increase in chances of getting business by more visible in the eyes of prospective clients and giving them better service and better product. Here Mortgage Alliance helps us a lot by improving the image of the company introducing better products and keeping us informed of new changes. The new rate advisor template is a good example. Information Technology is doing good job by giving new tools and improving old ones, like Supper Apps, Mortgage Boss and Virtual Office.
    Syed Zaidi
    Nexgen Mortgage & Loans

  • Ottawa Broker on 2012-01-31 10:48:23 AM

    Lol, is this an unbiased mortgage industry website, or did just link into a Mortgage Alliance members only site. This isn't that new of a product, other brokerages have very similar products.

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

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