Non-compete clause opened the door to success

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MortgageBrokerNews is continuing its series of features on the finalists for Broker of the Year in both categories -- the under 25 employees and the 25 and over. This year’s group is the most diverse, spanning the country. Winners in both categories will be named at the upcoming Canadian Mortgage Awards on May 10 at the Liberty Grand in Toronto.
 
Finalist in the Mortgage Broker of the Year (25 Employees and Over) category
 
Jeff Cody, MCC Mortgage Brokers City, Ottawa, Ont.
 
Signing his name to a non-compete clause opened the door for Jeff Cody to try his hand at brokering.
 
“Before I started mortgage brokering, I owned a high-tech company,” he says. “In 1986 I sold it, worked for the purchaser (CTG) for two years before turning it over and moving the Canadian head office to Toronto.
 
“I had a five-year non-compete so I decided to look for a new career and obtained my mortgage broker's licence in 1988 in Toronto. Then I decided to move back to Ottawa and start a mortgage brokering firm.”
 
A fully licensed mortgage broker and managing partner of Mortgage Brokers Ottawa, Cody obtained a Bachelor of Mathematics, majoring in business, from the University of Waterloo before obtaining his broker's licence.
 
“My more than 30 years of financial background includes three years working for CMHC, lending for two trust companies (FMMC, Prudential), business management and over 24 years of mortgage brokering in the Ottawa area for Prestige, Norlite, Mortgage Intelligence, Invis and MortgageBrokers.com.”
 
Cody can measure his success by the billions of dollars of deals he and his team have originated over the years.
 
He’s currently one of four owners and a managing partner of Mortgage Brokers City Inc., which is operating as Mortgage brokers Ottawa. It’s been made possible by the love and support of his family.
 
“I’m lucky to have a great wife, Penny. We have been married 24 great years. I often say she is my best friend, salesman and love of my life,” he says. “We love ballroom dancing. We have met many wonderful people and friends through dance - many of whom are also my clients.”
 
In fact, Cody says his key to success is being surrounded by so many great people, a team of 117 mortgage professionals, which includes more than 100 licensed mortgage agents. 
 
For a full list of finalists and to reserve your place at the industry’s biggest night visit www.canadianmortgageawards.com - hope you don't miss out this year!
 
The awards sell out every year and with only 2 tables left, we hope it’s not you missing out this year!

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