Specializing in financing for self-employed individuals, Kathryn Grant serves as the Director of Broker Services at CENTUM Financial Services Limited Partnership. This exclusive interview offers a glimpse of the daily life of a mortgage broker serving Canada’s freelancers and independent professionals.
How long have you been in the industry?
I have been working for over 8 years now.
What do you enjoy most about working as a mortgage broker?
Every day is different. Every day, the type of client you meet and the type of file you work on represents a new challenge, a new opportunity.
How do you go about solving the challenges you encounter every day?
I use my knowledge and my support. I come up with creative ways to get clients financed. A mortgage broker is often required to think outside the box and look at various resources to devise different ways to serve customers’ needs.
How does working with self-employed individuals differ from other types of consumers?
The way self-employed individuals show income is different. They are not typical salary workers. A mortgage broker needs to really know how to look at financials and how to approach lenders properly to present these clients.
What criteria do you employ to determine the lender that best fits each your clients’ needs?
It depends on the client’s credit, the type of business they are in, and how long they have been in their business. Each client and each lender is different, and I can only determine the lender that best fits the situation by seeing the whole picture.
What milestone are you most proud of so far?
I had my own franchise pretty early on in my career, and then after having my baby, I decided to just service my clients. Right after that, I was approached by our corporate head office to help run a new model. I’m very proud of the fact that my career keeps moving forward.
What advice can you give to newbie brokers?
If you have passion for what you do, it shines through—and people will feed off that. But knowledge is crucial. Make sure that you attend conferences and webinars. Get as much knowledge as you possibly can. Get a mentor, someone who has been in the industry for a while now and who is willing to take you under their wing. Most importantly, establish goals and focus on having a business plan.