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Mortgage Broker News | 10 Jun 2011, 09:10 AM Agree 0
Some brokers fear it may tarnish the industry’s reputation. But a business advertising broker services – at the same it hawks “cash for gold” – is focused on customer service, said the jeweler/mortgage professionals behind it.
  • @kiltedbroker | 14 Jun 2011, 03:26 AM Agree 0
    and I thought you couldn't get much worse than Don Cherry... thanks for proving me wrong!
  • Christopher | 14 Jun 2011, 03:50 AM Agree 0
    I have a side business intended to generate leads, but it's income tax preparation which is a lot closer to the mortgage business. Tax planning for income properties and RRSP holdings is a good skill to have.
  • Paul Mangion | 14 Jun 2011, 04:57 AM Agree 0
    FSCO was all over me about a accountant conducting mortgage business in his office so I wonder how they are going to treat this?
  • Didar | 14 Jun 2011, 05:04 AM Agree 0
    This guy is a joke. How do expect people to take the broker industry seriously when you have clowns like Harold Gerstel the Jewellery buyer acting as a mortgage agent. He should just refer the business to a broker or say that he is a private lender. As a industry this is the kind of thing we need to eliminate, people who make the broker industry a Joke. Watching those adds you would think that any clown could arrange mortgages.

    Harlod stick to what you do best or full time, hawking cash for gold and let the professional full time mortgage brokers handle the financing...
  • What Integrity? | 14 Jun 2011, 05:09 AM Agree 0
    I have been in the real estae and mortgage brokerage business for over 30 years and find the mortgage brokerage business the last place you will find any integrity. Agents sell not to help the clients but to obtain the highest finders fee no matter what the end result to the client. Designations for professionalism are given out with every cup of coffee you have with a lender. I have hired agents from national companies who have no idea what to do with a Lender Disclosure because they told me it is done after the fact in house. Shame on all of you for taking this industry to such a low level. As long as a body can breathe they are now considered a professional mortgage agent. This business is now on the same lever as used car salesman.
  • Kris | 14 Jun 2011, 05:17 AM Agree 0
    Well we have seen the grocery stores get into the banking and mortgage industry why not a Jeweler Buyer. I'm not saying there is anything wrong with this picture. But we are starting to place an image on ourselves that just about anyone can give you a mortgage... What's next the convenience store at the end of your street? Someone should be regulating how Mortgage brokers get viewed by the general public.
  • Bad Idea | 14 Jun 2011, 06:00 AM Agree 0
    Our industry still has a lot of work to do to educate the mortgage consumer public exactly what a mortgage broker does. We do have an image problem. We don't need used jewelry salesman selling mortgages. You can just see his pitch...not enough down payment no problem, how about selling your used gold jewelry. Oh gosh his mortgage market is subprime and a pawn shop pawning mortgages. The industry regulators must stop this kind of silliness that hurts the industry.
  • Very bad idea indeed!!! | 14 Jun 2011, 06:26 AM Agree 0
    I agree that this is major image problem with a used jewelry salesman selling mortgages, as a veteran mortgage professional, we tried so hard to work and improve our public image over the years, now, we have this clown call himself a mortgage professional selling mortgages in his used jewelry store. It is indeed a joke and an embarrassment to our industry, frankly, I do not understand how/why FSCO gave him a license.
  • Wake up CAAMP | 14 Jun 2011, 12:57 PM Agree 0
    We need a body that cares about the integrity and longevity of our industry. CAAMP doesn't care, they just hope that FLAKE pays them the CAAMP due and of course they will offer him the AMP. Laughable!!! On with the Mortgage Revolution!!
  • misc | 17 Jun 2011, 05:54 AM Agree 0
    What Integrity?
    To the 30 year veteran's comment; Agents sell not to help the clients but to obtain the highest finders fee no matter what the end result to the client..............Its a shame that someone with 30 yrs experience thinks we are all the same. Let me guess your're a mortgage broker and a realtor right?
  • Ken IMHO | 17 Jun 2011, 05:59 AM Agree 0
    this 'used jeweller'ranks right up there with "realtors','cab drivers', and any other 'part timers who can't make a living at their trade' being issued a mortgage broker license. it seems like it is all about the cash flow for the governing bodies, not the protection of the public opinion of us that are true to the trade. I also take offence to the writer of "what integrity": just because you have met undesirables, please do not paint us all with that brush: in my 20 years of being in this business i have met and worked with many mortgage brokers with high integrity and ethics.
  • Carl | 17 Jun 2011, 06:09 AM Agree 0
    This is what happens when we don't get involved let let the powers at large control our industry. We need ti patrol ourselves better and deal with these types of situations quickly. Come on FISCO,CAMP,IMBA,and who every else out there proports to being our eyes and ears in the industry. This is not the three monkeys. HEAR NO EVIL,SEE NO EVIL,SPEAK NO EVIL. Let's get proactive instead of reactive.
  • James Shinners | 17 Jun 2011, 06:13 AM Agree 0
    It's nice to know that this broker needs to use the mortgage broker industry to add credibility to his gold brokerage business.
  • Paul Mangion | 17 Jun 2011, 06:26 AM Agree 0
    There are too many Truck Drivers, Cab Drivers, used car salesman and factory workers running around offreing mortgages. There is no integrity in this business since a majority of the players treat this as a part time quick cash grab. It doesnt matter what damage they cause since their her for a short time anyway. I blame this on the many brokers that don't know what they are doing. They are turning this industry into Amway where there best selling product is a dream and starter kit. Shame on you brokers that make a living in recruiting instead of mortgages!
  • Ace | 17 Jun 2011, 11:23 AM Agree 0
    There are many part timers at this business. How you advertise your self seperates you as an unproffesional borker or proffesional broker. Its up to you how you want to be protrayed to the public.
  • Tonia Power | 17 Jun 2011, 04:27 PM Agree 0
    "Shame on you" seems to be a popular comment. Who are we to shame anyone? For those of us brokers that are passionate and commited to our business and to our clients it really doesn't matter what anyone else does. We are in the business of building trust and personal relationships which happens face to face and is far more powerful than a TV ad. My clients refer business to me not because of the great rate I gave them but because of the top notch service I provide. I can't afford to spend much time worrying about how another broker promotes themselves. I am too busy promoting and building my own business. There is enough business to go around. Stay in close contact with your current clients. Find your niche and education who ever will listen. Remember the Naked News? At the very least Gerstel has the courage to promote his niche.
  • Danp | 17 Jun 2011, 10:02 PM Agree 0
    The implosion begings as the banking industry quietly watches from sidelines waiting for Broker Industry to fall off the branch with the rope arour its neck.
  • Scott | 17 Jun 2011, 11:22 PM Agree 0
    What Integrity? on 13 Jun 2011 03:09 PM
    I take issue with sweeping generalizations and blanket statements. A 'seasoned' real estate and mortgage broker veteran with 30+ years of experience should understand that there will always be self-interested individuals within every business arena. I like to believe that the vast majority of mortgage brokers & agents understand that their fiduciary responsibility to the client supersedes their own interests. To say 'shame on all of you for taking this industry to such a low level' is very shallow and sounds like classic psychological projection to me.
  • Kevin | 18 Jun 2011, 12:00 AM Agree 0
    Has anyone seen the corporate name "Mortgage Maven" on any of "Harold the Jewellry Buyers" TV ads? First ads did not have FSCO license#. Now they have the FSCO# but no corporate name except Harold's. The company, "Harold the Jewellry Buyer", is not licensed to arrange mortgages, Harold the man may be. Maybe the regulators should have a look at how the "Mortgage Maven" monitors the advertising & actions of its agents.
    I'm not in love with guy's "style", just like I don't like national firms whom allow their agents to stick tacky, plastic signs on utility poles at stop lights, with phone numbers on them that connect to throw-away cell phones, but FSCO spends its time trying to fine licensed brokers.Quit whinning about people who have the skill and ability to handle multiple professions. There alot of people in this profession, & in others, who are "full time" screw-ups.
  • Johnathan Livingston | 18 Jun 2011, 12:12 AM Agree 0
    Did anyone see the name "mortgage maven" on any of Harold's ads? The first ads on TV did not have an FSCO# on them. The recent ones have a brokerage license number, but no brokerage name.The company, "Harold the Jewellry Buyer" is not licensed to deal in mortgages, Harold the individual may be licensed as an agent, but an agent of "mortgage maven". Any advertising should have the name of the licensed brokerage on it or in it,otherwise an unlicensed entity would be advertising mortgages, which is against the act. Why isn't FSCO investigating the principal broker at the the "mortgage maven" who is responsible for ensuring all of his agents are in complete compliance with the Act?
  • Brad | 20 Jun 2011, 06:13 AM Agree 0
    I take offence to being a 'Factory Worker'that got my license as a Mortgage Agent. I have worked in a factory for over 20 years. We live with the threat of our job being gone any day now. I have another 20 years to work and I love meeting people and have always had interest in finances and business. I would love nothing more than to get out of factory and work full time in Mortgage industry but with 1 child in college and 2 in Elementary school, I can't just quit and hope to make a go right away. Sorry if this bothers you.
  • Christopher | 21 Jun 2012, 05:42 AM Agree 0
    Re Johnathan's comment - I saw no reference to Mortgage Maven, which has to be 'prominently displayed' according to the rules. I went to the Canadian Advertising standards to complain, but for some bizarre reason people in the same industry aren't permitted.
  • sue | 05 Sep 2012, 01:08 AM Agree 0
    everyone deserves to buy a house there needs to bee many different opertunities to get a mortgage,,i don't see anything wrong with jewlery guys donut shops, helping,,
  • Carrie | 13 Oct 2012, 03:00 AM Agree 0
    I think what Harold is doing is the best thing for Canada!!! The other comments on this page is most likely from other agents who are mostly worried about loosing business and worried about how much money won't be going into their pockets!!! Good for you Harold!!! Take the market by a storm and show these other idiots that it can be done!!! It's scaring other brokers like crazey as we can read by the comments!! It's time they stop taking money from innocent people and making rediculous qualifications to get a mortgage!!! Way to go Harold!! Sign me up for mortgage!!! That's awesome!!!
  • keith bryce | 07 Jan 2014, 06:49 AM Agree 0
    i was told i could get a mortgage loan then paid a title search fee of 100 dollars then was told the lender back out. So to this day all i did was lose a 100 dollars. i guess the fact that he was meeting clients in a dont shop should have been my first clue
  • keith bryce | 07 Jan 2014, 06:49 AM Agree 0
    i was told i could get a mortgage loan then paid a title search fee of 100 dollars then was told the lender back out. So to this day all i did was lose a 100 dollars. i guess the fact that he was meeting clients in a dont shop should have been my first clue
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