Mortgage Broker

22 | spring 2018 cmba-achc.ca CmB magazIne cmB: As the new president of cmBA- Atlantic, what are your main priorities? Js: Improved communication and membership growth are two key areas of focus. We've done a great deal of work, but not a great job telling people about it. Improved communication is the solution and growing our membership across the four Atlantic provinces is key. We've done a pretty good job here in Nova Scotia, and we've got some really fantastic people now as provincial directors in all four provinces. Our new vice-president, Cricky Smith, resides in New Brunswick, so I'm excited to have a senior board member in another province to work with the N.B. provincial director. Our proactive provincial directors will be empowered to get out to the broker base through road shows, seminars and outreach in cooperation with our industry partners. A lot of our brokers are far removed from the major centres, and therefore there are few opportunities for career development and education. at's why we're trying to go to them and put on various events in or near their communities. It's all about providing value. cmB: how else will you spread the word about cmBA-Atlantic? Js: e other thing we've done, and will continue to do, is television advertising that encourages clients to use a CMBA member broker and look for the mark of membership. Previously, the ads didn't have a call to action, but now people are directed to the CMBA- Atlantic website. e MB trademarked logo is a key differentiator of mortgage brokers from mortgage specialists. Utilization by our membership clearly communicates that clients will have options, unlike a mortgage specialist, who works for their employer – a bank. In addition, we are revamping our website to become more consumer- focused. People can read about the value of brokers and how to find one. We are also building relationships with industry-related organizations such as realtor and legal bodies, insurers, etc. It is important that they know who we are, what we do and that mortgage brokers have the best options and advice for their clients. cmB: what is the association doing on the regulatory front? Js: We continue to work with regulators in all four Atlantic provinces. We don't have the same criteria in terms of licensing throughout Atlantic Canada. New Brunswick is the most current, in comparison to provincial regulatory requirements in the rest of the country. Nova Scotia is in the process of rewriting its regulations, Newfoundland is two years out from doing so, and it's not currently on the radar for Prince Edward Island. Regardless of their respective statuses, we work with the regulators to ensure the regulations protect consumers, but do not prohibit brokers from providing their best service. While there are many fantastic brokers throughout Atlantic Canada, the barrier to entry is set too low. We want to change that. With CMBA-Atlantic, there is now a local body for the consumer to contact if they have questions or concerns. We can work with our industry partners to help clients solve problems. We're about educating clients, brokers and regulators. ere is an opportunity for all to learn. cmB: which issues most concern your members? Js: e biggest issue is the mortgage rule changes and their impact on rural locations, as previously mentioned. e lack of lenders in Atlantic Canada is certainly a big issue and I have talked to our member of parliament about that, and how these rule changes are affecting their constituents. We will continue to work to increase awareness of these unintended consequences. I encourage other brokers to talk to their MPs as well. cmB: what advice would you have for someone starting out in the mortgage industry? Js: I would start by telling them what we learned about keeping regular nine-to-five working hours. I'd also recommend they take advantage of every educational opportunity – get out there to industry events to learn about rule changes, products offered by lenders, etc. is industry changes frequently, so even seasoned brokers need to attend seminars to stay current. cmB: what's on the horizon for your business? Js: With the economy recovering somewhat here in Halifax, I might be looking to hire some mortgage brokers to join our team. e industry is certainly looking brighter than it has been over the past decade or so. cmB: what hobbies do you enjoy in your spare time? Js: I'm a bit of a car nut from being in the auto business prior to being in the mortgage business. I currently own a 1993 Cadillac Allante, a two- door sports car, but I'm selling it in the spring to buy my father's 1956 Ford underbird, which is the same car Suzanne Somers drove in the movie American Graffiti. I play bass guitar with my church band; it's something I took up about a year ago and I take lessons every week. Of course, I spend time with our four children, who range from 17 to 23 years old. I'm also involved with the Knights of Columbus at our church, whose focus is doing charitable works in our community. "improved communication is the solution and growing our membership across the four atlantic provinces is key. We've done a pretty good job here in nova scotia, and we've got some really fantastic people now as provincial directors in all four provinces." mbprofile

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