Canada’s mortgage brokers are voicing concerns that negative press in the United States is hurting their business, and their reputations. The findings are a result of a survey of over 500 Canadian mortgage brokers conducted by the Real Estate and Mortgage Institute of Canada Inc. (REMIC)

According to REMIC President Joseph White, Canadian mortgage brokers feel that they are being inaccurately tarnished by their American counterparts.

“Canadians have been inundated with stories of how mortgage brokers in the United States, due to questionable business practices, contributed to the American mortgage meltdown,” White said. “Canadian mortgage brokers typically employ sound business practices, are highly regulated and ongoing surveys show that their customers exhibit high levels of customer satisfaction, a far different experience than what has been reported in the United States.”

“The survey further indicates that Canadian brokers want to see a more accurate reflection in Canadian media of the uniquely Canadian experience,” White concludes, “a reflection that has been overshadowed by the negative reports about their American counterparts.”

The Real Estate and Mortgage Institute of Canada Inc. was founded in 2008 and provides education, training and resources to both the real estate and mortgage industries.

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For more information or to schedule an interview with Joseph White please call Cain Daniel, Director of Education and Training at 905-464-2246 or e-mail Cain at cain.daniel@remic.ca

Survey Findings

The REMIC survey was conducted from January 12th to January 25th.

Survey Size:
512 mortgage agents/brokers
843 individual comments were collected regarding the various survey questions

Geographical Breakdown:
Ontario 40%, Alberta 30%, British Columbia 30%

Notes
Several questions were asked in this survey and results will be published over the next two weeks.

Overall, 72% of respondents feel that the negative press about U.S. mortgage brokers has negatively affected their business. There is a difference in perception depending on the province surveyed.

In Ontario, 80% of respondents felt this way, while in British Columbia 78% of respondents and in Alberta, 56% of respondents reported the same belief.

In appreciation for you spending your valuable time sharing your opinions with us, you will be entered into a draw to win a free Introduction to Commercial Mortgage Brokering workshop valued at $145
To take the survey please follow this link:

http://survey.constantcontact.com/survey/a07e3a0w20wgiupll4h/start

visit us online at www.remic.ca

The star of this book is you!

Joseph is writing about the good news stories that we all have in our industry:  how you may have saved your client’s home from power of sale; how you may have saved your clients’ marriage by fixing their finances; and so on.

It’s time that the public hear the real stories of the brokerage industry instead of continuing to believe that brokers are simply here for folks who get turned down by their bank.

So tell us your story.  Joseph will contact you by email or phone to discuss your story.  Once published, the book will be available to brokerages to give to their clients as well as directly to the general public.  Now’s your chance to get your favourite story heard.

We look forward to hearing from you!  And of course, please read the the terms and conditions before submission.

Your REMIC Team