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Albert Collu: Mandatory re-licensing education in Ontario
Albert Collu, president of Argentum Mortgages, discusses Ontario's mandatory re-licensing education course, which will begin Nov. 1 and what it will mean for brokers in the province. To be completed by March 31, 2012, the course will bring Ontario mortgage brokers and agents in line with counterparts in Alberta and British Columbia. They already submit to similar education requirements as a condition for license renewal and billed as a way of improving compliance with provincial laws on mortgage brokering.
Video transcript below:
Albert Collu, President, Argentum Mortgages
What is re-licensing and why is it necessary?
Recently FSCO invited four parties to the table to discuss re-licensing education for the next renewal period on March 31st, 2012 for Ontario agents and brokers. Those four parties have been given a general outline in terms of what the curriculum must consist of and it’s now the responsibility of those four parties to come back to FSCO in August to submit their proposals and the curriculum if you will for approval. Once those four bodies or entities are approved from FSCO, the course will be delivered as early as late October but probably early November. This course is definitely compulsory, it’s mandatory we must all have it by the next renewal period as I discussed which is March 31, 2012. There will be a bit of a grace period there but it is essentially in a tight time frame. We you know in terms [AMBA] are completely sold on the idea that it is incredibly important to have a refresher course if you will to remind us of the compulsory items as they relate to compliance and regulation because the industry has really changed dramatically over the last two years so we welcome this and we are going to look forward to delivering the course of to our members and non-members across Ontario.
The Big Story: The most effective social media tool
Brokers are as gung ho about social media and its power to win leads as other salespeople. But which one -- Twitter, Facebook, et al -- provides the biggest bang for a broker's buck? MBN finds out.
The Big Story: Lenders and grow-ops
Brokers are generally supportive of registering former grow-op properties, but will monolines and banks ever lend on those rehabilitated homes?
The Big Story: The Mortgage Summit 2013
Here's the highlights of the 2nd-annual Mortgage Summit, powered by CMP and bringing together more than 500 industry players for two days of professional development and networking.
The Big Story: The CMAs take the stage
Toronto was host to the 7th annual CMAs, theatre-styled gala honouring 21 industry players from brokers to underwriters. Take in the sights and sounds of this extravaganza.
The Big Story: Fighting doom and gloom
The real estate forecasts of some big players have receive even bigger media attention. That's bad news for brokers sitting on preapprovals. But there is a way to encourage ready buyers into the market.
The Big Story: Rate Madness
When one of the Big Five announced it would match any rate a competitor offered, brokers sat up and took notice, and then they got busy...
How to be a disruptive force
Industry trainer and broker Greg Williamson (Mortgage Professionals Academy) wants brokers to be a distruptive force for change, turning the tables on the banks and the rate wars.
He`ll lay out his strategy at the upcoming Mortgage Summit (May 9 - 10) in Toronto during a luncheon workshop open to all registered attendees.
For more information on the workshop, visit www.themortgagesummit.com/workshop.
Mapping out your marketing plan
Mortgage professional Michael Mullis -- the Mortgage Teacher -- is helping brokers master the art of multimedia marketing, with a session at the upcoming Mortgage Summit revealing all the tricks of that increasingly important trade.
Benefit from BMO's 2.99
Brokers weren't impressed by BMO's 2.99 per cent on its 5-year no-friller, says Centum's Paul Therien, but the offer has highlighted the need to provide clients both rate and expertise.