has had a whirlwind decade in the mortgage industry.
“On a lark, I got my mortgage broker license. That was in 2003,” Eisner, president of True North Mortgage, told MortgageBrokerNews.ca. “I started working for a small company, which actually went bankrupt, so I bought the assets for $6,000 dollars. That was True North Mortgage. It came with a website and a phone number.”
That was after graduating from the Richard Ivey School of Business in 2001 and earning his “dream job” at Accenture just prior to the Dot-com bubble burst.
“I was laid off and I was either unemployed or underemployed for a good 2-3 years,” Eisner said.
It was then that he took a chance on the mortgage industry.
“When people ask me, ‘when did True North Mortgage start,’ there’s three answers; in 1999 the original company started, I got my broker license in 2003 but I didn’t actually open my first store until 2006,” Eisner said. “In 2007 I was on the Dragon’s Den, which was my 15 minutes of fame. We shook hands on a deal but it was never consummated.”
His company did grow, though, and True North currently has 10 locations across the country.
“Some people choose entrepreneurship; others have it thrust upon them. I’m in the latter category,” Eisner said. “It wasn’t until 2006 I decided to become a mortgage broker fulltime and to do it seriously. And that’s when I opened our first location. Ten years ago this month.”
Most recently, Eisner launched his own lender, THINK Financial,
“Currently, the volumes we’re doing are about double what we expected. I think what’s happening is the low rates we are offering right now combined with a full featured product has really resonated with good credit Canadians,” Eisner said. “Actually, managing so much volume is our biggest pain point right now.”
Not a bad problem to have.
This is part one of a two-part profile. Check back Thursday to find out Eisner’s secrets to success
From “15 minutes of fame” on television to recently launching a lender,