Company: Affinity Mortgage Solutions
Location: Ontario
Total volume: $90 million
Loans funded: 165
CMP: Do you think consolidation will be a significant factor in the industry this year?
Hiren Patel: Yes, I do think a lot of small lenders will be consolidating to achieve economies of scale.
CMP: How do you think the industry needs to change to better serve brokers and consumers?
HP: More media coverage from industry leaders and associations on why customers should use knowledgeable brokers for their financial needs, and educating customers on financial knowledge.
CMP: What’s your prediction for the state of the mortgage industry this year?
HP: The industry will definitely grow by more than 7% to 8% market share compared to bank originations.
