Star story still holds value, says Babber

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A controversial Toronto Star article showcasing broker know-how still holds value, says the broker at the centre of the conflict, suggesting clients will look past the corrections and clarifications to see the value in choosing a mortgage broker.

The one article published April 30, “The pros and cons of using a mortgage broker,” was later altered in the online version of the Toronto Star with the clarification at the top of the story:  “May 4, 2013 – Christina Cleveland is the sister-in-law of mortgage broker Raj Babber. That relationship shouild (sic) have been disclosed in this article. The Star was unaware the two are related.”
Babber, the new president of IMBA, is quoted in the story and feels the Star article still portrays mortgage brokers in a favourable light, with the clarification only reinforcing fair and balanced reporting.
“The original Toronto Star article, ‘The pros and cons of using a mortgage broker,’ was accurate and balanced,” Babber told “It remains so after the recent clarification, which I welcome. The article paints the role of the independent mortgage broker in a favourable light indeed.”
Paul Therien, the director of business development at Centum, is satisfied with how the Toronto Star handled the situation, and feels brokers shouldn’t be concerned as to how clients perceive the corrections and clarifications.
“It’s balanced reporting, which is what it should be,” says Therien, when asked if the placement of the clarification at the top of the online article would prejudice how the public perceives mortgage brokers and the industry as a whole. “It isn’t the Star’s job to promote brokers – that’s CAAMP’s job. I don’t have a problem with it, and it doesn’t change the value of the story.”
Therien feels the successful brokers won’t give the Star articles a second thought.
“If anyone has to rely on a news story to promote their business, then there is something much more wrong than just an online clarification,” says Therien. “It is the product that sells. Sure, some brokers will take issue with it – but others like me will see it as balanced reporting. Our industry is driven by word of mouth, and what the consumer relies on is what they can see and hear from trusted friends and family.”

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