Team lead and mortgage consultant
DLC CLEAR TRUST MORTGAGES
Years in the industry: 5
Fresh out of university, Vincent Tong was encouraged by his mother to look at the mortgage industry. “I would’ve never thought to pursue a career in lending; I had no previous banking experience,” he says. “Banking policy and mortgages were very foreign to me. However, my natural interest in real estate and communication led me to tackle this challenge, and I have never looked back.”
Now, five years after making the decision to pursue mortgages, Tong has seen considerable success. In addition to co-managing a team of 28 mortgage brokers, he has captured numerous awards, including repeat appearances on CMP’s Young Guns list.
One of the biggest challenges for Tong has been the tightening of lending requirements, which he feels should be loosened so more people can enter the market. “The stress test of 200 bps is far too high and prevents a lot of first-time homebuyers from entering the market in the main hubs like Vancouver and Toronto,” he says. “A slight reduction of the stress test would be more suitable.”