Company: Butler Mortgage
Location: Ontario
Total volume: $443.5 million
Loans funded: 1,094
CMP: Do you think consolidation will be a significant factor in the industry this year?
Dave Butler: It’s possible. Truthfully, I thought 2019 would be a down year and that consolidation would be present for much of the year, but it ended up being the opposite and was a really busy year with really high volumes, specifically in Ontario.
CMP: What’s your prediction for the state of the mortgage industry this year?
DB: I believe that 2020 should be a very busy year. In Ontario, the demand appears to be very high, and supply appears to be low. With immigration still at high levels and with almost 50% of new immigrants coming to Ontario, this should keep things quite interesting. Throw a decreasing interest rate environment into the mix, and we could really see some fireworks.
