The new B-20 rules may have rocked the mortgage industry, but sponsoring an award at this year’s CMAs has allowed Canadian Mortgages Inc. to stay one step ahead of the changes.
The company is supporting the Award for Private Lending Broker of the Year at the 12th annual Canadian Mortgage Awards, and given the emphasis placed on the private channel with the latest mortgage rule changes, sponsoring the award has allowed CMI to take on a leadership role within the channel.
Nanit Suri, vice president of national brokerage operations at CMI, says B-20 has forced a lot of first mortgages to come in through the private channel, and that sponsoring the award will let the industry know it’s a serious player in the channel.
“With the changes happening, we’re focusing on the alternate side of the business,” he said. “We launched our MIC two years ago with the intention of providing space in the alternate market, which we thought wasn’t fulfilling the niche that was created. We got a lot of business through that MIC with brokers and agents working to ensure they get the clients to fulfil the criteria of our MIC.”
Suri says it’s more difficult to place a deal with CMI’s MIC than it is with individual investors, because it’s very risk conscious, but that the company appreciates brokers’ and agents’ extra efforts to get deals done, and that’s why CMI is supporting this award.
“It’s appreciating the fact and thanking the agents who are supporting us on the MIC side, and on the brokerage side with brokers who are not very experienced, to help them understand the changes,” he said.
For the sixth year in a row, Centum will be supporting the Industry Service Provider of the Year Award because, according to Caroline Rapson, Centum’s director of franchise services, recognizing industry luminaries is as important to them as it is to the winners.
“We’re always looking for every opportunity we can to celebrate and recognize those industry members who continue to raise the bar and provide the best customer experiences, whether a lender, service provider or a mortgage professional,” said Rapson. “It’s also a valuable networking opportunity. We’ve been in the industry for over 15 years and this is our sixth time sponsoring the award. To be able to mix and mingle with people, no matter what brand they’re under, is important, and everything is left at the door so we can have fun together.”
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