Company: Mortgage Wisdom Corporation
Location: British Columbia
Total volume: $146.84 million
Loans funded: 226
CMP: What are the biggest challenges currently facing brokers?
Harry Toor: It’s tough keeping up with rate competition and lending policies from banks not in the broker space, mainly on conventional mortgages. Regulatory changes, high real estate prices and stagnant incomes are collectively making it challenging year-over-year.
CMP: What’s your strategy to continue growing your business in 2020?
HT: Strengthening referral relationships, investing more time to source business from existing clients and increasing marketing efforts will be key areas to focus on in 2020.