AMERICAN MORTGAGE BROKERS HAVE NEGATIVE IMPACT ON CANADIAN

FOR IMMEDIATE RELEASE
AMERICAN MORTGAGE BROKERS HAVE NEGATIVE IMPACT ON CANADIAN
COUNTERPARTS
Mortgage Brokers Given A Voice: Survey Finds That Negative Reports about American
Mortgage Brokers Has a Harmful Impact on Canadian Mortgage Brokers
Canada’s mortgage brokers are voicing concerns that negative press in the United States is
hurting their business, and their reputations. The findings are a result of a survey of over 500
Canadian mortgage brokers conducted by the Real Estate and Mortgage Institute of Canada Inc.
(REMIC)
According to REMIC President Joseph White, Canadian mortgage brokers feel that they are
being inaccurately tarnished by their American counterparts.
“Canadians have been inundated with stories of how mortgage brokers in the United States, due
to questionable business practices, contributed to the American mortgage meltdown,” White
said. “Canadian mortgage brokers typically employ sound business practices, are highly
regulated and ongoing surveys show that their customers exhibit high levels of customer
satisfaction, a far different experience than what has been reported in the United States.”
“The survey further indicates that Canadian brokers want to see a more accurate reflection in
Canadian media of the uniquely Canadian experience,” White concludes, “a reflection that has
been overshadowed by the negative reports about their American counterparts.”
The Real Estate and Mortgage Institute of Canada Inc. was founded in 2008 and provides
education, training and resources to both the real estate and mortgage industries.
###
For more information or to schedule an interview with Joseph White please call Cain Daniel,
Director of Education and Training at 905-464-2246 or e-mail Cain at cain.daniel@remic.ca
Survey Findings
The REMIC survey was conducted from January 12th to January 25th.
Survey Size:
512 mortgage agents/brokers
843 individual comments were collected regarding the various survey questions
Geographical Breakdown:
Ontario 40%, Alberta 30%, British Columbia 30%
Notes
Several questions were asked in this survey and results will be published over the next two
weeks.
Overall, 72% of respondents feel that the negative press about U.S. mortgage brokers has
negatively affected their business. There is a difference in perception depending on the province
surveyed.
In Ontario, 80% of respondents felt this way, while in British Columbia 78% of respondents and
in Alberta, 56% of respondents reported the same belief.