Blog

I Love Mortgage Brokering

Hi there, Last week was the first post missed since the start of the year. I am on the final stretch with Volume 2 and deep into final editing. Another week or two and I will be done and back to the Blog while the book winds its way through copy editors and typesetting. Hopefully […]

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Subject Free Offers – Another Landmine Lurking

60-day notice to vacate… …words every Mortgage Broker longs to see in an offer written on a tenanted property, in particular when the buyer has less than a 20% down payment. For a client putting less than 20% down, (or for a purchase requiring Mortgage Insurance) the approval hinges on the blessing of one of […]

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“I Am Not A Numbers Person” – Said No Successful Broker Ever

I am cutting these posts back to bi-weekly, in an effort to focus on completion of my second book, also weekly is too much of me.   Numerical Literacy One of many interesting anecdotes I came aware from Dan Gardners 2008 book Risk: The Science and Politics of Fear was that 45% of Canadians are unaware of how many […]

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Chapter 54: Commit. Perform. Measure

An excerpt from Volume 2 of Be the Better Broker.  Commit. Perform. Measure. We are what we repeatedly do. — ARISTOTLE As a mortgage Broker, your whole world is numbers. In Volume One we spoke of ‘the four-point system’ for winning and retaining clients, as set out in the book How to Become a Rainmaker […]

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The Amortization Effect

The Amortization Effect Each year from 2008 through 2010 the Federal Government reduced the maximum amortization as follows. Purchases with less than 20% down –from 40–35 years, then 35- 30 and finally 30–25 years where it remains today. Purchases with 20% or more down were cut from 40–35 years, and then from 35 – 30 […]

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FICOM & The Form 10 Disclosure Decision

What follows is an exact copy of the letter that I wrote and submitted to FICOM on February 20th for their review and consideration. No doubt hundreds of other Brokers wrote similar letters. On March 30, 2016 FICOM announced that they are moving forward with enhanced disclosure, despite the feedback from Brokers such as the […]

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Business and Buddies

An excerpt from Volume 1 of Be The Better Broker. ‘My best friend is a Realtor — it’s a built-in shortcut!’ Uh, wrong. In the early days of your career, any long-standing friendships you may have with top-producing Realtors are unlikely to translate into new clients for you. This can cause a rift in the […]

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Help! It’s a Mortgage Emergency!

An excerpt from Volume 1 of Be The Better Broker. It has been said there’s no such thing as a mortgage emergency. We Brokers may know that no underwriter is going to be reviewing documents late at night or over the weekend. However we also know from experience that responding to those late phone calls […]

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Invest in Yourself!

An excerpt from Volume 1 of Be The Better Broker. Invest in Yourself Too many new Mortgage Brokers view a commission cheque as their paycheque. It is not their paycheque. It is the gross sales revenue of their business. The commission cheque belongs to their personal business, an important differentiation to live by. A Broker […]

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Carpe Momentum!

An excerpt from Volume 1 of Be The Better Broker. Early on in my Mortgage Brokering career I attended almost every real estate-related or finance-related event I could find in our city. I showed up ready to walk the walk, clean shaven, sporting one of my $99.00 suits, with a pocketful of classy business cards. […]

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