Canadian Mortgage Hangout - Latest Comments

Re: Canadian Mortgage Hangout July 25th, 2013

Ray Silvestri — Sat, 26 Jul 2014 06:46:22 -0000

It is really an effective video and everyone should go with it. As they perfect to do so.

Re: Eric Petersen and Canadian Anti-Spamming Legislation (CASL)

Ray Silvestri — Sat, 26 Jul 2014 06:45:10 -0000

From this video one can get the information about mortgage updates. So they should be passionate about it.

Re: Jolt Marketing – #cmhTV July 3rd, 2014

Ingrid Menninga — Fri, 04 Jul 2014 17:25:25 -0000

Great chatting about mortgage marketing, mortgage lead generation, social media marketing & getting the most out of a shoestring marketing budget!Thank you for having me on the show!

Re: Gary Mauris: Dominion Lending Centres

Scott Dawson — Thu, 10 Apr 2014 15:31:30 -0000

Thanks for taking the time to come on today Gary!

Re: Gary Mauris: Dominion Lending Centres

Gary Mauris — Thu, 10 Apr 2014 15:21:44 -0000

Thanks gentleman, I really enjoyed being your guest. The show feels fun, informative and hits many of the real issues facing our Industry. Let me know if I can be of any assistance in the future.

Re: Canadian Mortgage Hangout: Sabeena Bubber

ashleygoddyn — Thu, 30 Jan 2014 15:00:00 -0000

Love this Video! A true articulation of what we Xeva Mortgage brokers already know. :)

Re: Canadian Mortgage Hangout Oct.17th, 2013 Social Media Best Practices

Scott Dawson — Tue, 19 Nov 2013 12:55:27 -0000

Thanks Ryan! Glad you found it useful.

Re: Canadian Mortgage Hangout Oct.17th, 2013 Social Media Best Practices

Ryan Kirwan — Tue, 19 Nov 2013 10:50:01 -0000

Great session guys... very informative!

Re: Canadian Mortgage Hangout Oct. 23, 2013 “Ex-Banker Tells All” with Sandi Martin

Geoff Cook — Tue, 29 Oct 2013 15:20:06 -0000

Well said.

I would agree that transparency is an issue in the financial services world and unfortunately like so many things, it seems that a group of people can ruin it for everyone.

I stumbled across this post through For Advisors Only (FAO) and it looks like several people found it was a bash against our industry (Life Insurance, Investments etc) which is really set up for compensation similar to the mortgage business.

I am envious of your channel, I wish I had a group of Independent planners/advisors I could chat with live and share with the community.

I would agree with Sandi in that the best thing we have going for us vs. the bank is our independence. We have accountability, freedom of choice, flexibility to control how we charge/offer/do, and can offer much more service than any bank can.

None the less...Thank you for acknowledging the comment and best of luck in the future

:) Geoff

Re: Canadian Mortgage Hangout Oct. 23, 2013 “Ex-Banker Tells All” with Sandi Martin

@kiltedbroker — Tue, 29 Oct 2013 15:05:40 -0000

Thanks for the clarification. I was speaking on some of my personal experience and client experiences around the misconception that a financial plan as offered by a financial planner is "free". When in actual fact there is a cost involved, whether through deferred sales charges or management fees.

I certainly have no problems with brokers or financial planners receiving a commission for services. I just want to see more transparency around how and what that commission is.

The context of the video was an ex-banker (who is now a fee-only financial planner) helping brokers understand some of the things that go on at the branch level to increase our sales ability (as mortgage brokers) with respect to objection handling. It was never meant to be a commentary on the personal finance industry in Canada.

I certainly don't begrudge you or any other financial planner doing a great job with your clients, however you will never find me in support of a single product provider dominating the marketplace as is the case in Canada. I believe choice is the best option for the consumer and outline my value proposition as such, even if that choice ends up with the clients going with a bank.

I meant no foul, and honestly after being burned by a financial planner many years ago, I have invested my money in myself and growing my own business instead of in the market. So please excuse my ignorance and generalizations.

Re: Canadian Mortgage Hangout Oct. 23, 2013 “Ex-Banker Tells All” with Sandi Martin

Geoff Cook — Tue, 29 Oct 2013 14:48:58 -0000

Disclosure: I am an independent CFP and get paid commissions and or fee for service depending on what kind of work I am doing, and what kind of work the client needs.

This just seems like a jab to financial planners who get paid commissions, but the reality is often people would rather I get paid commission then pay me out of pocket.

Re: Canadian Mortgage Hangout Oct. 23, 2013 “Ex-Banker Tells All” with Sandi Martin

Geoff Cook — Tue, 29 Oct 2013 14:45:17 -0000

Well... I am just getting started but Jackson says "When you dig into actual way the typical was a financial planner gets compensated...it is really not good...they get paid on products that they offer... to the person it is free...You are basically getting hosed"

Don't mortgage brokers often get paid commission on the products they sell?...

To the client it is free too or does Jackson not get paid a commission by the Mortgage provider and charge a fee to the client and waive the commission to the client or give the client the commission?

Re: Canadian Mortgage Hangout Oct. 23, 2013 “Ex-Banker Tells All” with Sandi Martin

@kiltedbroker — Tue, 29 Oct 2013 14:32:02 -0000

Confused as well... What gave you the impression we are talking down commission based business?

Re: Canadian Mortgage Hangout Oct. 23, 2013 “Ex-Banker Tells All” with Sandi Martin

Geoff Cook — Tue, 29 Oct 2013 14:26:35 -0000

Confused...It seems as though you are talking down commission based business.

Do all you mortgage brokers get paid by charging by the hour and wave your commission or return it to the client?

Re: Canadian Mortgage Hangout Sept. 26th, 2013: Dual Licensing & Mortgage Industry Best Practices

Scott Dawson — Thu, 26 Sep 2013 18:04:45 -0000

You're welcome back anytime Chris! Thanks again for coming on.

Re: Canadian Mortgage Hangout Sept. 26th, 2013: Dual Licensing & Mortgage Industry Best Practices

Chris Molder — Thu, 26 Sep 2013 17:59:03 -0000

Hahaha the "internets" isn't so good in Toronto. I love the ad lib great job guys and thanks again for having me.

Re: Canadian Mortgage Hangout: CMP Mortgage Summit

Jason Dodd — Thu, 09 May 2013 13:47:30 -0000

I make sure my referral sources know my target market as well. Giving them information and scenarios on how I have helped. New to Canada and first time buyers are a big market for me

Re: Canadian Mortgage Hangout Jan.17th, 2013

Jason Dodd — Thu, 17 Jan 2013 13:35:52 -0000

Oh ya Jackson. Different topic but I need to talk to you later as I need a Realtor referral in Saskatoon. Thanks everyone. This topic is very important and hope we can talk about it more in subsequent hangouts. Have a great day.

Re: Canadian Mortgage Hangout Jan.17th, 2013

Jason Dodd — Thu, 17 Jan 2013 13:31:27 -0000

Sorry dropping in late. I wish I could compress this but I think our existing monolines need to stop complaining about our cost on the broker channel. Now is the time our monolines need to familiarize Canadians with their brand. Just having a website and doing a few announcements on facebook or Twitter is not enough. Consumer surveys and general discussions with clients show the branding of our monolines is not sufficient. As a broker I expect to get paid well because I am selling merits of the lender and also defending it against objections of it not being the bank. Clients would be more open to a lender that has a bigger presence in the mind and eyes of Canadians. I see a major monoline lender posting their blog on facebook/twitter talking about watching another lender leave the channel. They will be next if they don't start making bigger steps to get their product to market. We as brokers can sell the merits of these lenders and make it happen but we are limited in are overall exposure. Why aren't our lender partners trying to make a bigger impact in the public eye? When you guys were not in the industry did you hear about monolines or different lenders? Likely not and that is a familiar theme with clients. I get that question all the time, who is this lender you are talking about I have never heard of them. To me that is a disconnect. While lending options are shrinking it should be GO TIME for lenders and they should be bulking up advertising and email space to get the word out on their brand/product. Subsequently this would serve as advertisement for brokers. So much positive can come from this as if Merix gets direct interest perhaps they can filter this to their more valued Broker partners and keep more business in the Monoline mix.

Re: Canadian Mortgage Hangout Dec. 6th, 2012

Jason Dodd — Thu, 06 Dec 2012 13:49:30 -0000

I am your one stop mortgage go to source. I will provide you with unbiased advice on your important financing obligation. Let me walk you through each stage of the financing and carry that forward through the life of your mortgage. Our relationship begins at funding and ends until you pay it off.

Re: Canadian Mortgage Hangout Dec. 6th, 2012

Jason Dodd — Thu, 06 Dec 2012 13:44:01 -0000

Absolutely Jackson. CHOICE!!! that is our huge value added proposition. Do clients look at one house when they shop for their important purchase? Why look at one option for a huge part of the purchase which is financing. Even if I have lost a deal at least I helped people save money by giving them the advice and knowledge they needed to navigate all the options

Re: Canadian Mortgage Hangout Nov. 8th, 2012

Scott Dawson — Thu, 08 Nov 2012 14:00:26 -0000

Thanks for the link Nick! I've embedded the video in the post. Thanks for watching too!

Re: Canadian Mortgage Hangout Nov. 8th, 2012

Nick Bachusky — Thu, 08 Nov 2012 13:23:34 -0000

http://www.youtube.com/watc...

Re: Canadian Mortgage Hangout Oct. 18th, 2012

Jason Dodd — Thu, 18 Oct 2012 13:33:06 -0000

I met and introduced myself to experienced brokers when I started out. Surrounded myself with strong people and my learning curve moved quickly. Even after leaving the bank I had a steep climb to learn the in's and outs of the broker world. One of the things I love about my job is I am continually wanting and needing to learn. That is why this is a full time job

Re: Canadian Mortgage Hangout Oct. 18th, 2012

Jason Dodd — Thu, 18 Oct 2012 13:16:23 -0000

Barriers to entry are very weak in our industry. Very few people starting out have even been trained on 5 C's of credit and now insurer/lender guidelines. License to Un-thrill as soon as they are out of the gates