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Mortgage Broker News | 06 Jan 2015, 04:31 PM Agree 0
A private group led by one of Quebec’s most successful bankers has purchased a controlling stake of a major broker network with two of its chief executives staying on as managing partners.
  • Joel Sida Mortgage Broker | 06 Jan 2015, 04:49 PM Agree 0
  • Joe | 06 Jan 2015, 04:51 PM Agree 0
    Why do the Broker networks lie about their size? DLC, Mortgage Alliance,,....Why?
  • Stefan | 06 Jan 2015, 05:10 PM Agree 0
    Mortgage Alliance has a network comprising 2,000 brokers? - really?!
  • Jake Abramowicz | 06 Jan 2015, 05:14 PM Agree 0
    What % of those brokers do more than 1 deal per year? per month? Who cares. Numbers don't matter, volume does.
  • @kiltedbroker | 06 Jan 2015, 05:25 PM Agree 0
    Congrats guys! All the best in 2015.
  • Kuldip S Panesar Homeland Mortgage Corp. | 06 Jan 2015, 05:30 PM Agree 0
    Brand does not bring the business , every sub mortgage broker has to put his own efforts fro bring the business .
  • Jake Abramowicz | 06 Jan 2015, 05:34 PM Agree 0
    Absolutely. I've never had someone tell me they want to deal with me because of being with ______. Rather, it's because of my personal brand Mortgage Jake which my brokerage has allowed me to promote, vs the big-brand, which is useless.

    Anyways, going on a tangent.
  • Layth Matthews | 06 Jan 2015, 05:48 PM Agree 0
    Mortgage brokerage is the future of banking.
  • Ron Butler | 06 Jan 2015, 06:45 PM Agree 0
    Congratulations to those who experienced the liquidity event. Anyone who has worked long and hard to build a business deserves the incredible feeling that must come with receiving that cheque.

    And Layth, if you think mortgage brokerage is the future of banking, I have a bridge to Brooklyn you may want to put a deposit on. I think mortgage brokerage has a future but I don't think any of the CEO of banks waste on instant of sleep on us.
  • Layth Matthews | 06 Jan 2015, 07:17 PM Agree 0
    Oh yea of little faith. You should do more trailer business.

    It's interesting that B2B bank, which bought into VERICO a few months back is connected with Laurentian Bank, which is where TMACC's new President is coming from. Or did I get this wrong? Maybe the due diligence, acquisition hunting revealed that Super Brokers are cash cows with bright futures.
  • Ron Butler | 06 Jan 2015, 07:20 PM Agree 0
    Layth, I think you know very little of the long history of FIs buying brokerage networks and super brokers ALL of which ended in tears with the FIs selling at losses.
  • Layth Matthews | 06 Jan 2015, 07:27 PM Agree 0
    I'm sure you are right. Brokerage is a tough business. Stock brokerage is the same. Thin margins, hard work.
  • @kiltedbroker | 06 Jan 2015, 08:11 PM Agree 0
    I agree with Jake. Your personal brand means way more to the consumer than being a part of some national brokerage. The real advantage in being affiliated with a national brokerage is not in the corporate notoriety rather it's in the back end systems that save you time and allow you to be a better broker.

    To question the point that MA has 2000 brokers... does it really matter?

    Mortgage Alliance has done very well in recent years by providing their brokers with innovative products and technologies. Kudoos to them on this recent move. Michael Beckett is a classy guy and I wish him all the best.
  • JT | 07 Jan 2015, 09:42 AM Agree 0
    Agree fully with Kiltedbroker. Jake, no one said on here an agent needs a big brand. Anyone with self confidence knows its personal branding that does the job, not a name like TD, BNS, DLC or TMACC. But as Kiltedbroker wrote, its the back end systems, technology, etc. that only a firm like TMACC offers that small firms will never be able to offer their agents. As Jake said, volume is more important than number of agents, TMACC is at $11B and always in the top 3 in Canada. Jake, your firm does how much?
  • Gary | 07 Jan 2015, 09:54 AM Agree 0
    well, if you write the number two in Roman numerals it kinda looks like an eleven.... II Billion... see what I mean?
  • Walid Hammami | 07 Jan 2015, 06:17 PM Agree 0
    Here is some insight from Quebec Guys, Muti-pret is the biggest brokerage we have. They invest in a lot of publicity and provide good back office for their brokers. Multi-pret has a special relationship with Laurentian bank and since Mr Bernard was coming from Laurentian he has an idea about the cashflow they have. Here is something to consider: Multi-pret keeps the bonuses and does not give them to their agents, so agents get about 80bps max the rest is kept at the head office. So if they keep 30 basis points that's like 6 times(at least) as much as other big super brokers. A volume of 2.5 billions a year is equal to a volume of 15 billions of your general super broker. And that's only in Quebec. Can they keep doing that? Sure as long as people want to deal with them.
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