Mortgage broker headcount at peak?

Mortgage broker headcount at peak?

There are approximately 18,000 to 20,000 people who hold a mortgage agent and/or broker licenses in Canada, according to the Canadian Association of Accredited Mortgage Professionals.

Ontario has the most with 10,000, while B.C. and Alberta have a combined total of 6,000. In Quebec, 1,000 people are licensed.

Canadianmortgagetrends.com says the going assumption of how many are actually active is 10,000 to 12,000.

Although Canada's broker count has increased over the past three years, it's been relatively stable in the last 12 months, said Jim Murphy, CAAMP CEO. There is speculation the industry will shrink because of increasing competition, falling home prices, rising rates, falling commissions and bigger bank sales forces. In the past few months, two brokerage CEOs have also said they believe broker numbers have peaked for the near future.

13 Comments
  • Julia Krause 2010-08-20 4:17:48 AM
    Do these numbers include all the less-than-2-years-in-the-business mortgage brokers who get no practical, real-life training, and therefore jeopardize the reputation of ALL Canadian mortgage brokers? When will the 'Voice of the Canadian Mortgage Industry' recognize the importance of TRAINING for new mortgage brokers in this industry? Oh wait, CAAMP is only the voice of the annual-fee-paying AMP. What was I thinking?? Sorry!
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  • Russ Cameron 2010-08-20 4:34:05 AM
    Is the first comment above Julia? cuz you are having a bad day so keep it to your self. The new Mtge assc. are the best thing for the industry..were did you learn? by doing right? what do you think they are doing under the broker's supervison..the best training you can get is by doing real deals..but then you were just having a bad day or experience..oh did you do your mandatory course yet? thanks Russ
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  • Ron Butler 2010-08-20 4:42:02 AM
    20,000 Licenses but how many are full time? I think the full time mortgage agents and brokers would be happy to see fewer part-timers. Everyone should realize that more full time agents equals more public awareness, equals bigger piece of the pie for mortgage brokerage in general and less full time head count has the opposite effect.
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