"Our focus is really on ensuring that our customers are well prepared to weather what's ahead"
The Bank of Canada’s January 25 rate hike is poised to be its last one for a long while, but while markets are expected to find a measure of stability as 2023 marches on, the mortgage professional should remain the consumer’s most reliable resource.
That’s according to Eric Larocque, chief mortgage operations officer at Community Trust, who believes the opportunity for mortgage brokers comes in the form of maximizing his company’s technology offerings to ensure the highest quality customer service.
“We were effectively using [technology] to meet the needs of our brokers, [and] it helped us to increase our speed in [decision-making],” Larocque said in a recent episode of CMP Talk. “We know that speed was something that borrowers really need in a challenging and very competitive market. It was something that they were looking for, something certainly that our brokers clearly articulated.”
Focusing on addressing what brokers need will pay off on the client-facing side of the equation, Larocque said.
“Our focus is really on ensuring that our customers are well prepared to weather what’s ahead,” the executive said, “whether it be coming up for renewals and helping them manage the increase in payments as a result of the higher interest rates, or working with our borrowers mid-term to find solutions to help them through some of the higher-interest rate periods and helping them manage through this next cycle. So whether it’s for new borrowers or existing borrowers, we make sure to partner with our brokers to provide the best solutions for them in today’s market.”
For more insights on the interplay between mortgage professionals and tech platforms, click here.
