Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Lender steps up to promote brokers

Notify me of new replies via email
Mortgage Broker News | 21 Nov 2012, 12:22 PM Agree 0
A mono-line lender is taking it upon itself to raise the public profile of mortgage professionals with a country-wide advertising campaign touting the benefits of independent broker advice over those of bank reps.
  • Len Lane | 22 Nov 2012, 05:34 AM Agree 0
    Glad to see MonCana throwing their voice behind us to many times the lenders seem to have other agenda's.James, Jerry and Darren are truly broker focused.
  • Blair Anderson | 22 Nov 2012, 06:25 AM Agree 0
    This is a step in the right direction. Kudos to MonCana. However, much more is needed to tip the scales. The time has come for mortgage brokers to get organized on a national level, and I don’t think CAAMP will ever be the best option; too many interest groups. Like our provincial associations, we need one at the national level, with exclusive representation for the broker channel. Perhaps we don’t need to look any further than the model used by the Canadian Chamber of Commerce. They represent a network of over 420 chambers of commerce and boards of trade, representing 192,000 businesses of all sizes in all sectors of the economy and in all regions. I would like to propose the Canadian Mortgage Brokers Association. There needs to be equal representation between regions, and small and large brokerages. Once we have established a unified front, only then we can tackle the problems like imposed minimum volume requirements, an advertising fund, exclusivity contracts, etc... No one will fight harder for brokers than brokers. We just need to get organized. What say you?
  • Don C | 22 Nov 2012, 06:44 AM Agree 0
    So let's see... everyone getting excited over O'Leary being punted from a conference which no consumer has any idea about is applauded. Yet, there is no applause for a consumer driven initiative?
    Good on you Moncana... every little bit helps.
  • Paul Therien - CENTUM | 22 Nov 2012, 07:56 AM Agree 0
    This is great news MonCana, and thank you for being such a fantastic partner to the broker community.
  • Cindy Freiman | 22 Nov 2012, 08:26 AM Agree 0
    Lack of consumer awareness is the mortgage brokering industry's greatest challenge. Kudos to MonCana for stepping up to the plate. How great would it be if more lenders helped educate consumers on the value of working with an independent mortgage broker/agent?
  • Rebecca Awram - Origin Mortgages | 22 Nov 2012, 11:10 AM Agree 0
    What great initiative! While acknowledging that brokers also need to their part to raise their profile, I think would be awesome if multiple monolines got together for some joint-campaigns raising awareness.... pooled funds would go a lot further.
  • Shaun Serafini | 22 Nov 2012, 11:16 AM Agree 0
    Thanks MonCana!! This is a great commitment to your industry and I hope that the broker community repays this investment in spades with increased mortgage business!!
  • Ron Price / DLC Fergus | 23 Nov 2012, 02:21 AM Agree 0
    I would like to suggest that all mono line lenders get together and pool their resources, and that broker/agent partners participate a couple of beeps commission to launch a collaborative and more sustained educational approach to consumers. Then we will truly be partners, and equally as important, be better able to generate a more sustained about 6 months versus 2 weeks.
  • Darick Battaglia | 23 Nov 2012, 06:40 AM Agree 0
    Thanks Moncana. Sent you a new deal today!
Post a reply