State of the Mortgage Industry in Canada: It’s Not All Gloom and Doom

As we come to the close of 2016, we’re reflecting on the good time we had, the great people we met, and the general mood of the industry.

We recently returned from North America’s first ever digital mortgage event in San Francisco, on the heels of MPC (Mortgage Professionals Canada Conference) here in Vancouver. Both events were valuable, well-run gatherings of some of the industry’s brightest Broker and Lender minds.

Our CEO Alex Conconi demos Lendesk in San Francisco at Digital Mortgage

At MPC, there was certainly some concerns in light of the recent regulatory changes, however as our industry has done many times before, we can work together to evolve and remain a competitive origination channel. With every challenge comes an opportunity to overcome it and become stronger for the journey. We truly believe that technology is the best tool to help us reduce friction at each step and grow the overall share of originations that our channel sees.

Lendesk VP Sales Gregg Paul (right) at MPC

As one Broker on Facebook said:
“I recently attended the MPC National Conference this past weekend in Vancouver. I found it to be worthwhile and educational with a whole lot of enthusiasm by all participants. As a broker for the past 24 years I have attended numerous National Conferences in the past but this one certainly ranks very high. From the organizers to the facilitators, from the mediators to the breakout room speakers, I can honestly say that the Canadian Mortgage Industry today is in good hands for the future with the quality people we have in this industry. Well done!”

The Lendesk booth at MPC was abuzz with activity

Leading up to MPC, our team was working extra hard to prepare product demos for the Brokers in attendance, and I had the added of pressure of having to prepare for my session: Digitizing the Mortgage Process. It wasn’t until we were there in the conference floor and we started meeting Brokers that we were able to relax and have fun. It was our great pleasure to have met so many of you, and hear your feedback on the first peeks at what we are putting together.

I was delighted to see a full house for my talk at MPC

Switching to “Show” from “Tell”

MPC was the first time that Brokers outside of our select product testers were able to view and try our product, and we were anxious to hear what you thought. We were overwhelmed with the positive feedback and excitement that you shared, and it reaffirmed our reasons for working so hard on something for so long: the need and hunger for change in mortgage tools is palpable. We were pleased to begin to get an indication that we have built something that will meet that demand, and be immediately useful to both Brokers and Lenders.

Our own Dan McDonald demos the Lendesk app at MPC

Only the Beginning

We are just getting started. As we prepare to start sending beta invites to the first Brokers who joined our early access list, we want to ask for your help as well. As ever, we are committed to hearing your feedback and needs in a technology solution, so we want to hear from you. You can send us a message on our contact page, or reach me directly.

Another way that you can help is to spread the word. In order to affect the kind of change that we want to see happen, we need your support. We need to create a movement towards a better future with better tools to assist the lending process. Tell your Broker colleagues and peers, and your Lenders to give us a look and consider signing up as well. The more momentum that we create together, the more access to key Lenders and partners we can facilitate.

If you haven’t already, sign up and be among the first to receive an invite to the tools that will change the mortgage industry in Canada for the better.