The association will welcome hundreds of attendees and over 35 exhibitors
The Canadian Alternative Mortgage Lenders Association (CAMLA) is in Vancouver for its Expo on Friday (September 20), an event its executive board secretary Hali Noble (pictured, top left) described as an invaluable networking opportunity for the industry.
The association, which advocates for alternative mortgage lenders, is set to welcome upwards of 35 exhibitors and 400 attendees to the Westin Bayshore for an all-day event including regulatory updates, keynote presentations, and a trade show and networking reception.
Noble told Canadian Mortgage Professional that the event, which will also offer three Mortgage Professionals Canada (MPC) continuing education credits, would present a chance for those in attendance to strengthen existing relationships and forge new connections in the alternative space.
While the main focus is connecting with CAMLA members who are alternative lenders providing non-bank solutions to BC-based brokers, “the golden nuggets may be found in the contributions of our keynote speakers,” Noble said.
Those are set to include an economic update and real estate forecast from economist Michael Campbell, as well as an insight into what brokers need to keep top of mind about upcoming FINTRAC/MCMLTFA regulatory changes coming into play in October.
Closing out the keynote sessions will be a presentation by Ross Simmonds, chief executive officer of Foundation, on marketing in the mortgage space and its potential for advancement by technology and artificial intelligence.
Dong Lee, chief executive officer at Axiom Innovations, is set to act as host for the day’s proceedings.
Conference to highlight big regulatory changes in store for the industry
That regulatory focus, Noble added, is especially timely. “It’s not lost on anyone in the industry that the media and all provincial regulators have a microscope on the actions and activities of mortgage brokers and private lenders,” she said.
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“CAMLA members are licenced, educated, highly regulated professionals and work with our regulators to ensure that consumers are dealing with ethical lenders. The alternative lenders at this event represent the very best of the best in the Canadian alternative mortgage industry.”
Dean Koeller (pictured, top right), CAMLA’s chair, also highlighted the substantial growth of the alternative lending space over the last decade as a reason for brokers to begin expanding their knowledge and expertise in the sector.
The conference “is a great opportunity to share our industry knowledge and trends that will make a difference in the alternative business that mortgage brokers are finding a great need to offer their clients,” he told CMP.
“The lending industry has gone through a lot of change over the last 10 years and will continue to evolve as we experience changing interest rates, housing shortages and new regulation. With the changes in AML [anti-money laundering] this will be an important topic for both mortgage brokers and alternative lenders to continue as we adapt to this new requirement.”
What’s coming down the line in Canada’s alternative lending space?
On the current outlook for the alternative lending space, Noble described a “steady” stream of business despite a challenging market, and noted the continuing alertness of the sector towards emerging trends. “We are all watching property values closely and make adjustments to our mortgage products when appropriate,” she said.
“Product suitability for borrowers, market stability and reasonable returns for investors will remain top of mind into 2025.”
Koeller underlined the continued evolution of the alternative sector, one that he said shows little sign of slowing. That means “improving its service and products to meet the needs of the clients,” he said, “and act as a safety net when the traditional lending industry is not able to exist.
“As we continue to deal with housing shortages and regulation changes, there will continue to be a need to support Canadians with solutions that are custom and timely to the situation that they find themselves in.”
For now, the executives are focused on CAMLA’s Friday event. “We’re excited to host the inaugural Vancouver Expo with a phenomenal lineup of speakers,” Noble said, “and hope that BC mortgage brokers will take advantage of the opportunity to attend.”
Members of the industry can register for the event here.
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