The challenge to make innovation more inclusive p.8
SOCIAL MEDIA SAVVY
Tips to establish and grow an online presence p.10
CLIMATE RISK IN REAL ESTATE
Severe weather events and their impact on the mortgage industry p.24
When
When
When
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Mortgage professionals offer tips for establishing and growing an online presence BY LISA GORDON WHEN THE PONZI MUSIC STOPS: THE RECOVERY OF FUNDS 18 features SPECIAL PULL-OUT SECTION: ALTERNATIVE LENDERS
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10 KEEPING IT REAL
THE CANADIAN MORTGAGE BROKERS ASSOCIATION
EXECUTIVE DIRECTOR Carla Giles
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Mortgage Brokers Association of Atlantic Canada
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CANADIAN MORTGAGE BROKER magazine is produced by the Canadian Mortgage Brokers Association (CMBA National)
EDITOR
Carla Giles
STAFF WRITER
Samantha Ashenhurst
MANAGING
Kathleen Freimond
ART DIRECTOR
Scott Laing
BILLING AND SALES
Debra Hiller
CONTRIBUTORS
Alison Burns Lisa Gordon
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BRIDGING THE DATA DIVIDE – DESIGNING AN INCLUSIVE MORTGAGE FUTURE
True innovation in mortgage brokering is about achieving better client outcomes
BY CARLA GILES
The International Mortgage Brokers Federation (IMBF) Summit in Dublin earlier this year set the stage for a crucial conversation: how mortgage brokers can remain relevant in a world transformed by artificial intelligence, embedded finance and evolving client expectations. One message resonated with participants: the future of mortgage brokering will be shaped not by technology itself, but by how intentionally we use it to serve clients.
In the months following the Summit, that message has only grown more urgent. At Equifax Canada’s Credit Trends and Economic Insights: Navigating Uncertainty in a Shifting Economy event held in Vancouver, industry leaders explored how market disruptions, the great mortgage renewal cycle and evolving consumer spending are reshaping credit behaviour. Presentations by Bill Johnston, SVP and chief product officer at Equifax Canada, and Patricio Remon, president of Equifax International, offered a compelling look at both domestic and global credit outlooks.
A key takeaway from this session was the growing importance of financial inclusion through data innovation. As the presenters emphasized, responsible use of data and analytics can help lenders and brokers identify opportunity amid uncertainty by better understanding risk, improving access to credit and ensuring that more Canadians are visible within the financial system.
The conversation reflected a similar theme explored at the IMBF roundtable I facilitated on innovation and open banking: true innovation in this industry is about achieving better client outcomes while strengthening the mortgage broker’s role.
SOLVING PROBLEMS, NOT JUST LAUNCHING NEW TOOLS
Brokers are not yet fully engaged as co-designers of innovation. Progress must go beyond building tools for efficiency; it begins by asking a more fundamental question: what problem are we trying to solve today?
When innovation is developed in isolation, it often overlooks the realities of clients’ lives and the complexity of our markets.
The mortgage industry functions as an interconnected ecosystem, yet too often progress occurs in silos. Without coordination, even well-intentioned initiatives can create friction and confusion. Recognizing these connections is the first step toward meaningful change.
Regulation, economic conditions, housing market dynamics and underwriting frameworks all shape how clients experience the real estate transaction
, MBA, CAE, CEO OF CMBA-BC, MBIBC, EXECUTIVE DIRECTOR, CMBA NATIONAL
and mortgage financing. When mortgage industry participants and policymakers align around shared challenges rather than isolated fixes, we create the conditions for a stronger, more adaptive industry – one that keeps homeownership within reach for more Canadians.
BUILDING BRIDGES THROUGH DATA
In the Summer 2025 issue of this magazine, we explored how the mortgage profession is evolving to balance technology and humanity. This next step builds on that discussion, focusing on how innovation can become more inclusive. The technology we adopt – and the policies we support – should make the mortgage process not only faster, but fairer.
A defining issue for the decade ahead will be who controls financial data and how it is used. Individuals generate vast amounts of information through banking,
yet many remain ‘credit invisible’ despite years of consistent payments on rent, utilities or subscriptions.
Credit bureaus, financial institutions and fintech companies hold datasets that determine a person’s access to credit, but consumers seldom benefit from the full picture of their financial reliability.
Although Canada has not yet fully implemented open banking, the federal government has taken steps toward introducing a national consumer-driven banking framework, expected to begin in 2026.
TECHNOLOGY AND INCLUSION
As this system evolves, there is a tremen dous opportunity to leverage financial data more equitably while also helping the industry better prevent and detect fraud. When managed responsibly, data portability could allow clients to share verified payment histories and alternative income information, enhancing the accuracy of credit assessments and enabling lenders and brokers to recognize a fuller picture of financial reliability.
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For example, expanding the types of data recognized in credit models and responsibly leveraging AI tools can support more accurate assessments of financial behaviour – helping lenders and brokers identify qualified borrowers who might otherwise be overlooked or unable to access more favourable mortgage terms.
Brokers have an important role to play in driving this transformation. By sharing our on-the-ground insights across policy, technology and data discussions, we can help ensure that innovation reflects the realities of our clients and our industry. In doing so, we can help make data and technology a bridge to better outcomes and a more inclusive path to homeownership.
INNOVATION WITH PURPOSE
The path forward for our industry is clear: innovation must serve people, not just process. When technology makes housing access fairer, the mortgage journey clearer, and outcomes stronger, we are expanding opportunity for Canadians on the path to homeownership.
Frank Wang BDM 604-690-4037 fwang@capitaldirect.ca
Mortgage professionals offer tips for establishing and growing an online presence
BY LISA GORDON
Samantha Power (left) estimates 80 per cent of her business comes through social media.
Vince Gaetano (right) advises your social media should act as a business card.
KEEPING IT REAL
When Vince Gaetano sat down to speak with Canadian Mortgage Broker for this article, he had just finished shooting a couple of hours of video for his YouTube channel.
Gaetano is a 35-year mortgage industry veteran and the principal broker/owner of OwlMortgage.ca. Based in Toronto, he is no stranger to digital marketing. For nearly two decades, he was a regular guest on CP24’s weekly Hot Property program, designed to educate viewers on the ins and outs of mortgages and real estate.
During the COVID-19 pandemic in 2021, Gaetano participated virtually on the TV show, eventually adding his own Instagram live segment immediately afterwards to respond to viewer questions.
“I didn’t know much about social media, to be honest,” he recalled. “This situation got me into it by accident. My son, Mark Gaetano – who is a prominent social media influencer – said, ‘Dad you have to stop doing TV and switch to social media. No one my age knows what a cable bill is. We’re all on social media.’”
Four years later, Gaetano’s social media outreach has mushroomed across multiple platforms. He now has 12,800 followers on Instagram, 18,500 on YouTube and 21,600 on TikTok. He estimates that over half of his business comes from digital marketing.
Initially, he thought he had to post different content across all platforms. His son advised him to simply re-post the same video across multiple channels. Another key piece of advice was to take off the suit – now, Gaetano films his videos in a selection of fun T-shirts.
One thing he’s realized over the last few years is that developing a social media presence takes consistency and discipline.
“We record once, but post multiple times,” he said. “I do multiple pieces in one sitting; sometimes, it’s dependent on what’s happening in the marketplace. I’m going to say I spend a good three to four hours a week doing research and recordings, and then my digital team disseminates the content in shorts, reels and stories.”
Posts generating the highest engagement generally cover government policy as it relates to housing. Most importantly, Gaetano avoids talking about mortgages. Instead, he aims to deliver practical advice on how to save for a home, RRSPs, TFSAs and first-time homebuyer programs.
“I tend to be direct in my thoughts about how will this (government) program work? I do a lot of research and try to follow the money. I want to help people think outside the box.”
As far as platforms go, Gaetano prefers YouTube and Instagram but says he’s planning to ramp back up on TikTok. He said his team uses Facebook advertising and is looking at LinkedIn as another potential tool.
While most feedback is positive, Gaetano said there can be an ugly side to social media.
“I watched my son grow at lightning speed. When you’re getting millions of views, you get hundreds of thousands of comments. Not all of them are kind. My son once said, ‘I have 4.5 million followers. I don’t expect them all to like me.’ So, you have to ignore the negativity. You need to have thick skin.”
He said there’s no doubt that social media has helped his business.
“People feel they already know me, so there’s not a lot of selling to be done,” said Gaetano. “You make an impression and that gives you an edge, so you’re the first person they think of when they need something.”
He shared a final piece of advice for those looking to build up their online presence –something his son taught him.
“Your social media should act as a business card. Be informative, educate and be present on social media. Without that presence, you have no credibility. Consumers today want to know they can
find you on social media; if not, it’s a red flag. But, don’t think you have to be perfect. Perfect is unbelievable.”
BE REAL, NOT PERFECT
Samantha Power agrees with Gaetano that posts don’t have to be perfect. In fact, she said perfection will just bore the audience.
As a mortgage agent with Rock Capital Mortgage, The Mortgage Centre, Power has been active on Facebook for years. Located in the small town of New Tecumseth, near Alliston, Ontario, she gets a lot of referrals from being active in local community Facebook groups.
She made the jump to TikTok as part of a work contest in 2022, when each social media post would earn points toward a free vacation.
“TikTok became popular during COVID,” said Power. “I threw a video on TikTok one day to see what happened.”
Today, 72,000 people follow her on TikTok, where each of her live segments nets 10 to 15 email leads from potential customers. Like
Gaetano, she reshares the same content to her 4,800 Instagram followers and 1,300 Facebook fans. Power said she’s just getting started with YouTube, too.
“I get a ton of business from social media,” said the 10-year mortgage agent. “I had my own book of business with repeat clients, but I’d say 80 per cent of business comes through social media. People I’ve never worked with before refer me, just because they follow me online.”
Power records her videos first thing in the morning, when the office is quiet – usually three times per week. Posts that generate the most engagement are simple, she said.
“The average Canadian is unfamiliar with mortgages, so I like to break things down for people. I try to keep it to a minute or less, if possible, and I’m not out there to hook people in. I always advise them to consult their own mortgage broker or bank contact.”
Power’s followers range from firsttime homebuyers to seniors and everyone in between. Authenticity is important, because people expect to work with the same person they’ve seen on screen.
“The person I am on camera is the same person I am on the phone,” said Power. “Being relatable is important. I used to drive to people’s homes with paperwork, but I’d never dress up because I live in a small town; it’s farmland. I am dealing with the average Canadian.”
She has other tips for mortgage professionals looking to amp up their online presence.
“Any kind of comments, whether good or bad, are good for your feed,” said Power. “People will love you or hate you; agree or disagree. The more people are on your social media, the more they push the algorithm, and your content will be seen by more people.”
She also said social media efforts need to be managed carefully, because otherwise they can suck up a lot of time.
“I’ve gotten to a point where I’ve learned I have to step away from it at times, because it’s like another full-time job.”
Inam Qureshi (above) says it’s important to be consistent on social media, and to keep content impactful but short.
Power has ‘zoned in’ on her process, setting business hours and using scheduling tool Calendly to block off her day’s activities.
She advises people to “just get out there and get started.”
She concluded: “Don’t be afraid of what people think of you and don’t focus on likes or views. Your clients just want to know that who they are seeing online is the same person they’ll be working with.”
EDUCATE YOUR AUDIENCE
The educational component of social media is critical to Inam Qureshi, founder and CEO of Syndicate Lending Corporation in Vancouver, B.C.
As the head of a firm that specializes in commercial lending and corporate finance, he uses social media to deliver updates on bond rates, prime rates and bond yields every day. Currently, Syndicate has 25,000 followers on Instagram, and is also active on Facebook and LinkedIn.
While Instagram remains his favourite, Qureshi said LinkedIn’s more focused approach is valuable when trying to connect with a wide range of professionals.
“We post every day and spend significant time each week on social media,” he continued. “We like to feature a product to educate our customers. We believe that educating them on various types of financing helps them understand important concepts – for instance, we had a customer who never knew about business lines of credit.”
The Syndicate team measures its social media impact through views, openings and leads.
Qureshi said posts on Instagram and Facebook are more visually appealing, featuring content that someone can view in under a minute.
“Any kind of comments, whether good or bad, are good for your feed. People will love you or hate you; agree or disagree. The more people are on your social media, the more they push the algorithm, and your content will be seen by more people.
Samantha Power
“On LinkedIn, we analyze a burning issue. It’s generally me that goes on there and provides analysis on the state of the economy and current market insight,” he added. “We choose a topical issue and I try to educate my customers. For example, the condo market in Vancouver and Toronto is very depressed.
Customers have a great deal of options, so we try to educate them that this is a good time to buy.”
The company’s followers are mainly individuals who own their first home or are looking to buy a second property to grow their rental portfolio. They range from about 25 to 65 years old, said Qureshi.
Currently, about 20 per cent of Syndicate’s business originates online. Qureshi, too, said it’s important to stay consistent and keep content impactful but short.
“We have a good following online, so our customers think of us first. Our goal is to keep ourselves in our customers’ memories. Having said that, social media gives you the chance to bring in a new customer – but more importantly, how do you serve them?”
To that end, Syndicate is moving to offer a fully digital customer experience, harnessing artificial intelligence tools and methodologies to provide satisfying round-the-clock service.
Qureshi advises mortgage professionals to invest in education, particularly in the tools that are necessary to reduce redundancies and focus on improving the customer experience.
All three digital engagement experts featured in this article offered similar tips for establishing an authentic online presence: keep content short but impactful, educate your viewer and post consistently. Most importantly, don’t worry about being perfect. If something doesn’t come out quite right, laugh it off and say it again – then post it.
Finally, remember to just be yourself.
He relishes having access to 80 lenders across Canada, which allows him to accommodate the needs of each client.
BUILDING WITH PURPOSE
From customized mortgage solutions to handcrafted charcuterie boards sold at cost, Larry MacDonald is all about serving his community
BY LISA GORDON
Larry MacDonald says mortgage brokering “fills his cup.”
After 26 years in the Canadian Armed Forces and then seven years at the Department of National Defence, MacDonald considered finding a part-time job after his military retirement. Instead, his friend Dan Cox – a Nova Scotia-based mortgage broker – enticed him to join the front lines of the mortgage industry.
MacDonald, who lives in Corner Brook, Newfoundland & Labrador, joined the business in 2024. It was a perfect fit for a man who still felt the need to serve.
“I had spent almost 35 years serving the people of Canada; this is just another extension of that and a way to continue to serve,” he said of his new career with United Mortgage Alliance. Previously, he had helped veterans, which involved large amounts of paperwork – so MacDonald thought mortgages would be right up his alley.
Larry MacDonald's attention to detail is important in his role as a mortgage broker and in his woodworking hobby.
“Right now, I do a little bit of everything to get a broad-based knowledge, although I think the construction field is a great place to be in,” said MacDonald, adding that working with first-time homebuyers is also very rewarding. His most recent client was a veteran with whom MacDonald served in Cold Lake, Alberta, who was having issues with his mortgage renewal.
“He was about a month away from homelessness and I got him from no home to a home in 17 days – that was pretty exciting.”
When he’s not doing mortgage deals, you can probably find MacDonald in his workshop. There, he hones his woodworking skills while crafting unique cutting boards, charcuterie boards, serving platters, trays and even custom poster frames.
Just under three years ago, he invested $250 in a used DeWalt planer and got down to business. MacDonald has come a long way since he bought that planer; he now fashions his wooden creations in a two-level 20’x32’ fully-equipped workshop on his property.
“I am finding the precision and attention to detail required is really good for my brain, keeping it occupied,” said MacDonald. “I am just working away and the whole world just disappears.”
Woodworking is a great stress reliever, he said, especially since he suffers from post-traumatic stress disorder from his time in the military.
While he has sold quite a few pieces, woodworking is a hobby more than a side business for MacDonald. He has gifted his
“I had spent almost 35 years serving the people of Canada; [Being a mortgage broker] is just another extension of that and a way to continue to serve.
creations to family and friends, but takes custom orders, too. While many of his finished products are shipped all over the world, he said he doesn’t do it for profit.
“The cost of the wood and shipping is what I charge, nothing more,” he said. “If I do it for money, it becomes a job and I don’t want another job.”
West Street in Corner Brook is blocked off for the event and festivities include live performances, interactive art, improv, dance and song.
After spending most of his adult life serving his country, MacDonald’s future plans in the mortgage industry are focused on just one individual – someone with a very personal connection.
Considering the dedication MacDonald showed his country, it’s probably a safe bet that he will be helping his daughter purchase her first home in the not-so-distant future.
MacDonald’s service to his country may not reach the national level anymore, but he is very involved in his community. The Royal Canadian Legion was an obvious choice, and MacDonald served as president of Lakeside Legion Branch 156 in Nova Scotia for three years. He is now a volunteer service officer for the Corner Brook Legion, continuing to help his fellow veterans.
The Qalipu First Nations community in Corner Brook includes a Men's Fellowship Circle. MacDonald, a member of the circle, said the men try to live in accordance with the seven sacred teachings from their Grandfathers: wisdom, love, respect, bravery, honesty, humility and truth.
“The group uses the seven sacred teachings of the Native people while focusing on helping the community,” he explained. Volunteer activities include putting up teepees for events and making animal hide drums; children at schools are taught how to make and play the drums while learning songs.
“Last year at Christmas time, we made a big pot of moose soup and took it to Elders within the community.”
“My whole team knows my plan; in five years, I either want to buy my daughter her first home or at least provide her with the down payment.”
There’s no doubt he is dedicated and determined. So much so, that he had the United Mortgage Alliance symbol tattooed on his arm recently. “That is how much I believe.”
This interview with Larry MacDonald continues our series Brokers Off-the-Clock. In every issue, we ask a mortgage broker to tell us what they like to do when they’re not behind a desk. Be it volunteering and supporting a charity, travelling to exotic places or being involved with sports, we want to know how you unwind. Would you like to be profiled in a future edition – or suggest a fellow mortgage broker?
Contact info@cmba-achc.ca
MacDonald also volunteers for Corner Brook at Nuit, an event celebrating the unique cultural heritage of Newfoundland with an evening of art on the street.
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PETERRUBIN, ALISONBURNSANDENCINAROH
WHEN THE PONZI MUSIC STOPS: THE RECOVERY OF FUNDS
When a Ponzi scheme collapses, how does a bankruptcy trustee with limited resources and hundreds of innocent investors — some winners, some losers — address all the competing issues in an equitable and cost-effective way? The Supreme Court of British Columbia recently offered an answer.
The Supreme Court of British Columbia in My Mortgage Auction Corp. (Re) granted a successful application for a judgment clawing back amounts paid to more than 500 investors in a multi-million-dollar Ponzi scheme perpetrated by Gregory Joseph Martel through My Mortgage Auction Corp (MMAC). This represented the first application of its kind in British Columbia.
BACKGROUND
MMAC was registered as a mortgage broker. Mr. Martel was MMAC’s sole owner and director. MMAC’s business included soliciting funds for the purported purpose of funding bridge loans for parties needing short-term financing. In reality, no bridge loans ever existed. Instead, MMAC had all the hallmarks of Ponzi scheme, including the promise of high returns with little risk and the use of funds from new investors to pay prior investors. From 2018 until 2023, MMAC operated a massive Ponzi scheme at the behest of Mr. Martel that raised over C$300 million from investors on false pretenses. In the end, more than 1,200 investors lost money to the scheme.
PwC was appointed receiver of MMAC in May 2023 and assigned MMAC into bankruptcy in June. Mr. Martel was petitioned bankrupt in August. Despite significant losses from certain investors, the Trustee identified approximately 500 parties who were “net winners” because they received a return of funds in excess of their investment. These winners had no knowledge of the Ponzi scheme. It was self-evident that the cost of commencing separate actions against each of those net winners for return of funds would be costly and lengthy, and result in minimal, if any, recovery for the estate.
... the Court affirmed that the law of unjust enrichment requires the return of Ponzi profits regardless of the innocence of the recipients.
Accordingly, in May 2025 the Trustee brought a single application seeking to recover: (i) amounts paid to all investors in the scheme in excess of the principal those creditors invested (Excess Funds); and (ii) payments that constituted preferences pursuant to section 95(1)(a) of the Bankruptcy and Insolvency Act (BIA) (Preference Payments).
DECISION
The Court granted the Trustee’s application and accepted that it stood as the most practical, effective and efficient process to recover the Excess Funds and Preference Payments. In contrast, the Court concluded that the lengthy and involved process of having the Trustee commence separate actions, as suggested by certain net winners in opposing the Trustee’s application, was a delay tactic aimed at exhausting the limited financial resources remaining in the estate to avoid liability.
PRELIMINARY FINDINGS
The Court was satisfied that Mr. Martel was running a Ponzi scheme through MMAC. It also reaffirmed the well-accepted principle in Canadian law that such schemes are insolvent from the outset.
The Court was equally satisfied that the Trustee’s application, which was akin to a summary trial, was the appropriate procedure to deal with the issues raised, holding that such process is expressly contemplated by the BIA and supported by both the B.C. Supreme Court Civil Rules and case law.
PREFERENCE PAYMENTS
The Court held that the Preference Payments constituted preferences pursuant to section 95(1)(a) of the BIA. It found:
n The Preference Payments were made three months before the date of the initial bankruptcy event and ending on the date of the bankruptcy
n The Preference Payments were made with a view to giving their recipients a preference over other creditors
n The recipients of the Preference Payments met the definition of a “creditor” under the BIA
As such, the statutory requirements were satisfied and the Preference Payments were void and required to be repaid to the estate.
FRAUDULENT CONVEYANCES
The Court also held that the payment of the Excess Funds to net winners constituted fraudulent conveyances contrary to the British Columbia Fraudulent Conveyance Act. It found:
n The transfers of the Excess Funds to net winners constituted dispositions of property
n The payments of the Excess Funds were made with the intent to delay, hinder or defraud MMAC’s creditors and others
n The payment of the Excess Funds had the actual effect of delaying, hindering and defeating MMAC’s creditors
Accordingly, the statutory requirements were satisfied and those payments were void and had to be repaid to the estate.
UNJUST ENRICHMENT
In addition, the Court affirmed that the law of unjust enrichment requires the return of Ponzi profits regardless of the innocence of the recipients. It noted:
n The net winners had been enriched by the Excess Funds
n The estate had suffered a corresponding deprivation because those funds would otherwise have been available to address the claims of all of MMAC’s creditors, including net winners
n There was no juristic reason that could justify net winners keeping Excess Funds that were “false profits”
MONEY HAD AND RECEIVED
Finally, the Court found that the Excess Funds constituted money had
and received (funds that a party has received but which the law says it would be unjust and against conscience to keep). It stated:
n It was not just to allow recipients of “profits” from a Ponzi scheme to keep those false profits in the face of the substantial losses incurred by net losers
n The defence of hardship or change of position could not be advanced by net winners in isolation from the entire circumstances and, in any event, was not available in the context of a Ponzi scheme
KEY TAKEAWAYS
This decision confirms that ill-gotten profits received from a Ponzi scheme can be recovered from multiple investors by way of a single, consolidated application. This decision also addresses important principles regarding the nature of Ponzi schemes and the causes of action available in the wake of their collapse. It is likely to be of significant assistance to court officers seeking to effectively and efficiently manage the difficulties that arise when insolvent persons have engaged in fraudulent activity.
Blakes represented PricewaterhouseCoopers (PwC) in its capacity as trustee in bankruptcy of the consolidated estates of My Mortgage Auction Corp. and Mr. Martel before the Supreme Court of British Columbia.
This article is republished with the permission of Blake, Cassels & Graydon LLP, a leading Canadian law firm with offices in Toronto, Calgary, Vancouver, Montréal, Ottawa, New York and London. In the Vancouver office Peter Rubin is a Partner, Alison Burns is an Associate; and Encina Roh is an Associate.
More information: blakes.com
CELEBRATING A DECADE OF UNITY AND ADVOCACY
The Canadian Mortgage Brokers Association turns 10!
BY SAMANTHA ASHENHURST
Did you know the Canadian Mortgage Brokers Association (CMBA National) is celebrating its 10-year anniversary? Beyond a passage of time, this milestone represents a decade of unity, professionalism and progress for Canada’s mortgage broker community.
“Today, CMBA National and, more specifically, the MB designation is more important than ever,” says John Woods, president of CMBA National. “It is important for the consumer to know when they are dealing with a mortgage broker, and that that individual is a committed professional – one who values the benefits of associating with fellow professionals through their provincial CMBA Association.”
Indeed, when CMBA National was founded in 2015, it was the culmination of years of dialogue, collaboration and a shared vision. Mortgage brokers across the country had long recognized the need for a stronger national voice, reflective of the grassroots realities of provincial associations, while also addressing federal issues and advancing the public profile of the profession.
To achieve these goals, several already established regional associations – including the Mortgage Brokers Association of British Columbia (MBABC), the Independent Mortgage Brokers
“It is important for the consumer to know when they are dealing with a mortgage broker, and that that individual is a committed professional.
John Woods, President, CMBA National
Association of Ontario (IMBA) and the Mortgage Broker Association of Atlantic Canada (MBAAC) – joined forces to create something new: a truly broker-led national body. Their guiding principle was simple yet powerful: an association created by mortgage brokers, for mortgage brokers.
Today, the members of CMBA National –CMBA-BC, CMBA-Ontario, Association des courtiers hypothécaires du Québec (ACHQ) and CMBA-Atlantic – continue to thrive with this spirit of independence and collaboration. Unlike traditional top-down organizations, CMBA National was designed as an “umbrella association,” empowering the provincial associations to remain strong and self-governed, but also united under a common national framework. Each region would retain equal representation, ensuring that every provincial voice carried the same weight in supporting the future of the profession across Canada.
In doing so, CMBA National filled a crucial gap, providing mortgage brokers with a unified national platform without losing the local insight and responsiveness that had always defined their work. It allowed the industry to speak with one
voice on federal matters, promote the value of mortgage brokers to Canadian consumers and drive professional standards across the country.
In the past decade, CMBA National has evolved from an ambitious idea into a cornerstone of the Canadian mortgage landscape. Its provincial associations have provided education, advocacy and a sense of community in an industry that thrives on relationships and trust. Through policy engagement and the shared use of the recognizable MB trademark,
the brand has helped strengthen the public’s understanding of what mortgage brokers do and why their role is vital to the housing and financial ecosystem.
The anniversary also marks a moment to recognize the perseverance that made CMBA National possible. Its founders faced challenges along the way, but their commitment to the greater good of the industry never wavered. They understood that collaboration, even when complex, would yield lasting benefits.
A decade later, that belief has proven true. CMBA National’s presence has helped elevate
the voice of mortgage brokers in national conversations, foster professional excellence and ensure that brokers remain at the forefront of an evolving mortgage market.
As the association celebrates this milestone, its mission remains as relevant as ever: to advocate, educate and unify mortgage professionals across Canada. The giant leap that began in 2015 continues to shape the industry today, demonstrating a testament to what can happen when independent professionals come together to build something bigger than themselves.
Mortgage brokers have an important role to play when it comes to educating their clients about the ripple effects of severe weather events
BY LISA GORDON
He noted that CMBA-BC highly recommends that brokers ask clients if they have checked to see if they can get home insurance on a prospective property during fire season.
If there is increased probability of default, then there will be increased regulations to protect from that default – but we don’t yet know how that will look. It is emerging, but it’s not disrupting markets yet.
For his part, Chopik offered a perspective on housing value post-wildfire. He painted a picture of a home set in a lush, forested area with a spectacular view of endless greenery. Now, imagine the same house affected by a forest fire with burnt trees as a backdrop. “You can see how that may negatively impact the value of the property.”
will cost?” Rates will vary across the country according to region and risk, he added.
When it comes to home insurance, “flood risk is big and wildfires hot on the chase, but I do think wildfires are disrupting more deals,” added Chopik. Insurance companies can consult flood maps when assessing risk, but wildfires are more unpredictable. There is one ‘silver bullet’ you can use during a property appraisal, he said, and that is to ask the appraiser to look for the risk – such as a risk map for that jurisdiction. “They can only find what is available, but if you ask them to look, then they will look. If you don’t ask, they won’t look.”
Insurance coverage for homeowners can be affected by the climate risk associated with that location. Weather patterns, topography, hydrology, drought and changing weather pattens will play a factor, Chopik said.
“In Miami, storm shutters are a good thing; in the forests of B.C., a steel roof is better than a cedar roof.”
Climate event patterns are emerging, continued Chopik, citing an increased frequency of tornadoes in the Toronto-to-Ottawa corridor, which were rarely a problem prior to 2005. Areas of high risk increase the possibility of default for a lender.
“If there is increased probability of default, then there will be increased regulations to protect from that default – but we don’t yet know how that will look. It is emerging, but it’s not disrupting markets yet,” he offered.
When he spoke to Canadian Mortgage Broker, Solymosi hadn’t yet seen a no insurance option for a property due to climate risk. However, he said part of a mortgage broker’s role is to provide knowledge to help clients avoid risk.
Solymosi feels brokers can serve their clients well by simply asking them, “Have you checked if you can get home insurance and what it
Chopik recalled his own insurance dilemma, due to his home having a highly flammable outer wall covering. He recommended that brokers ask clients who are considering a purchase in a high-risk area if they are comfortable with the resilience of the home and the risks that are known. “A homeowner finding a home inspector, Realtor and broker to help them navigate their investment into something with less risk would be sound advice.”
One of the most challenging situations happens when a climate event occurs post-sale, but pre-closing. A pre-close event may delay the close and ultimately affect the current insurance status.
“Timely advice is something we can offer; for instance, we know insurers can bind coverage 30 to 60 days in advance,” said Solymosi. Binding the insurance could make the difference between having the mortgage funded or not, and trying to find a new insurer last minute.
Mortgage brokers have a pivotal role to play in helping buyers evaluate climate risk. Raising awareness, sharing valuable guidance and supporting practical measures can help reduce losses and strengthen resilience for clients, financial portfolios, and contributions to their lending practice. “Especially in smaller lending institutions, reducing the risk within your portfolio is likely a good thing. There may be recognition of client care meeting risk reduction,” said Chopik.
Municipalities can also be a source of good information, he continued. “Advising your clients to look at municipality-provided information can improve the success and the quality of a broker’s underwriting.”
The Canadian Real Estate Association has a nine-hour Canadian Certified Green
Representative course that Chopik recommended. He feels it is in a mortgage broker’s best interest to be informed on risk and make it part of their service. “Get ahead of it . . . I could see errors and emissions insurance combining with a training compliance path around climate risk best practice some day.”
For those looking to protect their investment, he added: “If a homeowner lives in a forested area in the mountains, for instance, investing in making it a fire smart house could be the difference in losing or saving their home.”
If a purchaser’s mindset includes risk awareness, it may be a good investment to update a home with resilience in mind. Chopik then offered advice for those who are looking to buy, saying that purchasers should look for the hidden flaws and align with climate risk professionals who are knowledgeable and engaged.
“The Intact Centre on Climate Adaptation, the Institute for Catastrophic Loss Reduction (ICLR), and FireSmart Canada have amazing resources for homeowners,” he shared.
Solymosi weighed in on insurance and how the cost often surprises potential homebuyers. “I think is advisable to tell clients to look for insurance ahead of time, as it may be more expensive than they think.”
Insurance can vary due to regional impacts of prior climate events. An area that has endured a very large climate event can see a depression in home prices, he added. “If we can reduce risk and stress, then I think we have done our job.”
As climate-related events continue to increase in ferocity and frequency, a mortgage broker’s role may expand into areas of risk management that could not have been anticipated in the past. Brokerages that emphasize training and continuing climate risk education can help their brokers rise above the competition.
The ripple effects of climate events on real estate are just beginning to be felt. Mortgage professionals who get ahead of the issue now will ensure they are not left behind.
Troy Resvick’s award-winning approach to personalized service ensures plenty of repeat clients and referrals BY
LISA GORDON
Troy Resvick lives by the old saying that if something is worth doing, it’s worth doing right.
Resvick is the managing partner and senior mortgage advisor at Invis – Resvick & Associates Mortgage Advisors, serving B.C.’s Fraser Valley, and he’s been helping clients make informed financial decisions for most of his professional career. His peers have been noticing: At the 2025 CMBA-BC Conference & Trade Show, Resvick was recognized with the association’s highest honour, the prestigious MB Pioneer Award for Lifetime Achievement.
“It was a great honour, very humbling and meaningful,” he told Canadian Mortgage Broker. “It was an extremely gratifying point in my career and reinforced my commitment to increasing professionalism in our industry.” Resvick says the award has a prominent place on his desk, although he was quick to take the focus off himself by giving credit to others and relaying his appreciation to the industry.
Born in Nova Scotia, Resvick grew up in Greater Vancouver. He recalled that his friends’ older brothers were mortgage brokers, although he himself got his start in banking in the early 1990s.
“I started as a teller and after six promotions, through seven years, I became the senior loans officer,” said Resvick, adding that the position gave him a more in-depth exposure to brokers and opened his eyes to the mortgage industry.
A hands on approach with experience as a mortgage underwriter in the mortgage lending world has been an asset to his career; Resvick explained that mortgage brokering requires both formal studies and business finance.
After founding Invis – Resvick & Associates in 2003, he expanded his industry reach by obtaining his real estate licence in 2017. His dual role as both a mortgage broker and real estate agent for Troy Resvick Real Estate with Royal Lepage Northstar Realty has allowed Resvick to be more selective due to a large database.
“For me, it is and always has been about dealing with my clients and assisting them with decisions on their mortgages. Most of my business comes from repeat clients and referrals,” he said.
Although Resvick has tried different approaches to business, he feels being one-on-one with clients suits him best.
“It’s essential that lender pricing models and policies demonstrate fairness and consistency across all distribution channels, ensuring that every borrower is treated equitably, regardless of the mortgage channel used.
Troy Resvick
Before joining the banking world, he spent a brief period in sales and sales management, which he feels helped ignite his passion for assisting consumers with purchase decisions. “It’s always been something I have been passionate about.”
Working for MCAP in 2000 was a defining period in his career, Resvick confirmed. “The relationships I gained and people I met there really opened a lot of doors for me.”
June Young from MCAP was an important mentor, said Resvick. He was quick to expand credit to Jim McGregor at Coast Capital Savings Credit Union; Gord Dahlen, Past President with Invis Inc.; along with Senior Mortgage Brokers Feisal Panjwani and Ajay Soni; and Regional Manager Karl Madsen.
“These amazing individuals are all influential leaders, who took time to teach and mentor me during my 30+-year journey, which I continue to pay forward as best as I am able.”
Working to find the right solutions for his clients is what drives Resvick, but it is not without its challenges.
“It’s essential that lender pricing models and policies demonstrate fairness and consistency across all distribution channels, ensuring that every borrower is treated equitably, regardless of the mortgage channel used,” he pointed out.
There are also the pending regulations from British Columbia’s new Mortgage Services Act (MSA), and the industry is always evolving, he continued. “It’s going to be about helping our clients navigate the new regulations and economic challenges.”
Resvick recalled a challenging situation he had this past summer, helping repeat clients from out-of-province. “Both were changing their employers and needed to be
FOUNDATIONAL EXPERIENCE
in their new place a few days before starting their new jobs,” he explained.
One of their new jobs was a union position and therefore there would not be a letter of employment until after they started. That situation created a challenge for lenders. “We did get it resolved and they were able to move into their new home the weekend before starting their new positions.”
The role of a broker entails something new every day because there are no two files the same. Resvick feels his prior sales training, combined with experience in underwriting, were foundational pillars to his continued success in the mortgage industry. Combining those tools with mentoring and guidance from experienced brokers paved the way for his career, he stated. “That gave me the understanding to match clients with the right lenders.”
The future of brokering will be influenced by numerous factors, Resvick believes. The lack of housing and the influence of macro environments outside the country will continue to be a challenge to navigate. Information technology will play a larger role, he predicted, adding that brokers who stay educated on artificial intelligence applications will benefit from that knowledge.
He also feels there will be even more regulatory changes coming, and a strong industry voice will be crucial. “Knowing the MSA inside and out will also be key to brokers navigating this new regulatory environment.”
As he prepares for the future, Resvick plans to continue with the formula that has served him so well: being present and listening to his clients’ needs, taking a more personalized approach and doing things right.
