The New Year brings a fresh start for everyone, including those in the mortgage broker industry. 2013 saw industry players continually jockeying with the previous year’s mortgage rule changes – and the ever-present threat of further action – but it’s fair to say most endured the frustration and emerged relatively unscathed.
In the first part of CMP's Broker Roundtable series, our network heads discuss a hot button issue: Brokerage consolidation.
Albert Collu's profile for Mortgage Broker News Hot list 2014
Brokers are already positing their own theories on which lenders will be hardest hit by CMHC’s move to cap access to government guarantees for securitized mortgages.
One broker is hoping that the larger networks forming in the channel will speak loudly and carry a bigger stick – especially to level the playing field against the five big banks.
The announcement Mortgage Architects has now acquired Argentum is strong indication the mortgage pie is getting smaller, and more mergers and acquisitions are on the horizon, say brokers.
Stay tuned, brokers, says Pacific Mortgage Group CEO Ron Swift on the heels of the Argentum acquisition, network consolidation will undoubtedly continue as companies struggle to achieve scale.
MortgageBrokerNews.ca has just learned that Mortgage Architects has acquired Argentum Mortgage and Finance.
Skye McLean of Argentum Atlantic HS did – and she’s eager to be a Top 75 broker once again this year – even if she slips a little in the rankings.
Implementing the best business strategies may seem obvious, but many brokers fail to take advantage of what works while discarding what doesn’t.