Exclusive: Independents join in coalition
Some of the key points of CIMBC are as follows:
"We are excited about CIMBC's ability to generate impactful change by leveraging our combined influence and strength to produce a more sustainable environment for our lending partners,” Mike Hall of Oriana Financial Group of Canada Ltd. said. “The entrepreneurial and efficient focused membership, can create a difference through innovative processes and systems that will create positive change for the industry.”
To learn more about the coalition, they can be reached by email.
- The coalition will not serve as a brand. Each independent will carry on business and operate status quo under its own name and business model.
- Member brokers will required to go through a formal application process, which will be reviewed before membership is approved.
- Each member broker must follow the coalition’s constitution and by-laws, and agree to its governance, which will be enforced by an appointed Advisory Board.
- CIMBC will work with its lender partners to reduce their origination costs by introducing innovative technology and software that will enhance the lender, broker/agent, and client experience. The technology will assist members to achieve minimum funding ratio benchmarks more effectively, which would lead to enhanced revenues, by improving profitability for its lender partners.
- Through the introduction of ancillary products under each member broker’s own brand, opportunities for higher revenue streams will be available. These products will each build real monetary value for each member, creating a solid tangible asset in their business.
- CIMBC will introduce education programs that will focus on how to operate a more efficient business, along with courses for agents focusing on relationship building with both clients and lenders, as well as business development and product knowledge.
- Introduction of a grievance process through CIMBC, targeting a 30 day resolution for all members and lender partners.