This Is Brokering

The alarm bells are going over at CMHC, but does any other level of government or department of government care?  Or does the opposing BOC mandate to repress economic growth (over)rule the day?

A former electrical engineer shares lessons learned in getting out of our own way, the value of process, and a formula for measuring Broker success. There is a lot packed into this conversation centered in Mindset.

Yes, but also no…   Technically it might be, but will your client be able to requalify at todays rates, without any exceptions being made?   This is blowing up left and right in clients and Brokers faces alike, do you know how to properly answer this question?

How does a Broker close 6 files in their first 60 days? Great question! Tune in and get a lesson in questions & mindset!  

The CRA is on strike, and if your passport is not an essential doc... your clients NOA is 100% not an essential doc... although it is the government... in any event - here is what you need to know.

Who is watching you? Anyone? What are they paying attention to, if anything at all?

Where’s this recession at? Can we get it going?   The sooner we start, the sooner it is over right? They’ve been telling us it’s coming… for awhile now. What’s the hold up?

How many characters are your passwords up to? Are you using 2FA on every possible thing?

What does 4.3% inflation mean for rates?

Some important information in here for anyone Brokering private mortgages, or working with MIC’s Food for thought!

A genuine line from a Broker, and it is a winner – just like them!

March 6 may have passed, but this still seemed well worth sharing.

We wonder why private lending is front and centre as a topic with regulators across the land.   It is not actually due to a Brokers actions per se. Rather it is due to client reactions over time, too much time, in a private mortgage.   This situation and topic are going to be interesting to follow over the next few weeks.   Stay tuned.

If Elon, on Oct 27th 2022, has invested his 44B$ in Facebook which was then $97.94 per share, the market value on March 27th at $202.84 per share would be 91B$   A 47B$ gain. Not bad over 5 months.   Instead by his own (over?) valuation of Twitter yesterday at 20B$ - the social media platform he opted into has cost him 24B$   Although the delta is actually 71B$   And you thought we had it bad with...

T oday is the day to show our underwriters some love.   Deliver some recognition. Deliver some appreciation. Want ‘make sense lending’? Then how about some ‘make sense submissions’!   Go forth and be awesome!

What are you posting and where? There is no private chat in a facebook forum. You may be doing the wrong thing for the right reasons, but it’s still wrong – so maybe don’t invite an audience to witness it.

Should you be optimistic? Yes. Should you be a perpetual optimist? No.   Be real. Take real action. Pay attention to the big picture, and all the small pictures the big one is composed of.

How do you respond to a client email that takes you to the woodshed?

CDN inflation, Silicone Valley Bank, A French Bank, and Saudi investors mean what to the next Bank Of Canada meeting? They mean what to your clients (payments)?

Does market reality have to be your reality? Do market averages reflect your averages? Are you average? No! No! No! Fact; It's more work. Fact; If you do the work, it will* pay off. *eventually

A nothing-burger with a something price tag! FINTRAC is coming to the Mortgage Brokers world to ask us to do... a whole bunch of things any halfway competent Broker/Agent is already doing. So ya, no news for most of you... other than more fees (most likley).

Brokers consistently overthink how easy it is to maintain a basic Excel sheet and type a few super simple emails per day. Responses like this one, can truly make your day... just as a simple sentence from you can make another persons day!

In a nutshell, artificial integillence cannot replace emotional intelligence. Are you a better authority than AI? Yes!