"It's important for you to really understand what lender best suits your clients"
Amid sustained economic and financial turbulence in Canada, a mortgage professional should be a beacon of reliable knowledge for consumers, according to Paul Campbell, director of mortgage originations at Magenta Capital Corporation.
This particularly applies to knowledge of lenders, as having a good handle on this information can help the mortgage professional best navigate the current environment.
“Get to know your lenders and their niches,” Campbell said in a recent interview with CMP TV. “It’s important for you to really understand what lender best suits your clients.”
Another crucial component of what the mortgage professional should be right now is the ability to work with any lender, working on “more challenging and tougher deals to get [clients] through the finish line,” Campbell stressed.
This would be particularly helpful for high-demand, high-volume Canadian markets.
“Across Ontario, what we’ve identified is that there’s a need for niche products,” Campbell said. “Things such as student rentals. We’ve been able to offer this kind of lending in very specific areas that are close to university towns.”
For a deeper dive into what Magenta Capital Corporation has in store for 2023, click here.
