Expert Series – Interprovincial Mortgage Brokering
| Title: | Expert Series - Interprovincial Mortgage Brokering |
|---|---|
| Location: | Delivered in an Interactive Zoom Environment |
| Start date: | 06 September, 2023 |
| Cost: | $0.00 for members or $45.00 for non-members |
Expert Series – Interprovincial Mortgage Brokering: Are Provincial Borders Regulatory Hard Lines?
Presented by CMBA-BC & MBIBC
Wednesday, September 6th, 2023, at 9:30AM
FREE For CMBA-BC Members
$45 + Tax for Non-Members
Can a mortgage broker registered in BC arrange a mortgage for:
- a BC resident where the security property is located outside of BC,
- a non-BC resident where the security property is located in BC, or
- a non-BC resident where the security property is located outside of BC?
Certainly, improvements in communications and other technologies have made the task easier but do regulatory requirements permit a BC registered mortgage broker to arrange such mortgages? What of brokers who are registered in provinces other than BC – are they permitted to arrange mortgages for BC residents or where the security property is located in BC?
What options are available? Which ones are regulatorily compliant and which ones may attract regulatory action in BC and/or the other province? Do common industry practices, such as co-brokering or using a lending hub, overcome regulatory limitations? Is your only regulatory compliant option to, other than decline to be involved at all, refer the mortgage to a broker registered in the other province?
Regulators are looking at these matters. To stay out of regulatory crosshairs, you need to as well. Let us assist you in that regard.
Learn from our speaker Justin Noda. Be the knowledgeable broker to whom your clients turn for informed and trusted advice.
Our moderator Jennifer Sternig will keep the discussion focused on matters of particular importance to you, drawing not only on her considerable knowledge and experience but as informed by you and our other attendees asking questions in real time.
This webinar will make you a more informed and complete broker. It will make you better able to conduct your business. We look forward to seeing you!
Speaker
Justin Noda
Justin has been a Mortgage Broker for 16 years and currently holds licenses in BC, Alberta, and Ontario. He is a second-generation mortgage broker, has owned a Mortgage Centre Franchise in Calgary, and spent 7 years as an underwriter for a few of the most successful teams in BC.
He now hangs his hat at Origin Mortgages in Vancouver where he is the Designated Individual (DI) and Principal Broker. Justin will share some insights into the current state of inter-provincial brokering in BC, how this will potentially change in the near future, and what steps brokers can take to make that transition smooth.
Host & Moderator
Jennifer Sternig
With almost 10 years of experience in the mortgage industry, Jennifer Sternig is known for her mentorship and support of continuous learning and education. She is often found spending time helping mortgage brokers better understand the market, lending options, and developing strategies to run a successful business.
Jennifer’s academic background includes a certificate in Business Administration and is registered as a Sub-Mortgage Broker. Her educational achievements have provided her with a solid business management, finance, and sales foundation, which she has utilized throughout her career.
Compliance Speaker
Ray Basi
Ray Basi has been the CMBA-BC and MBIBC Director of Education and Policy for the past 10 years. Prior to that, he was the Information and Privacy Director/Officer for several BC government ministries (including for BCFSA’s predecessor FICOM). He practiced law for 16 years. He frequently writes and speaks on topics concerning regulatory and legal issues impacting mortgage brokers (including registration renewal courses, continuing mortgage broker education courses, bulletins, and articles in the Canadian Mortgage Broker magazine).
Thank You to our Sponsor
What our past attendees have to say about the Expert Series Webinars
Excellent, extremely valuable, and pertinent in today’s climate.
All of the speakers and the content was useful and educational!
Important information learned from the Q and A session.