Community Trust's Grant Armstrong is excited to see what comes out of this year
This article was produced in partnership with Community Trust.
Mallory Hendry of Canadian Mortgage Professional sat down with Grant Armstrong, director of national sales, to discuss how Community Trust is ready to capitalize on the opportunities of 2022.
What Grant Armstrong (pictured), director of national sales at Community Trust, likes about the alternative lending space is that it’s been evolving since day one – and that continues to be one of its defining features as it races to keep pace with an ever-shifting mortgage industry landscape.
“The last few years amplified the need for change – new technology, new processes, new situations, new support – and I don’t see that slowing down in 2022 or the future,” Armstrong said in the first ever episode of our new podcast series called CMP Talk. “I’m excited to see what’s going to come out of this year, and the next few years.”
In the episode, The 2022 alternative lending outlook, Armstrong weighed in on what he sees as the key trends and market predictions, what brokers should be keeping an eye on and what Community Trust has in store for its broker community.
Community Trust is coming off a record-setting year, with multiple performance and development highlights. From working with more brokers than ever before, to expanding in British Columbia at the beginning of the year, to an overhaul of products, policies and procedures to make them more streamlined and efficient, Community Trust raised the bar in the space. Particularly when it comes to technology and service, the goal is to not just include those things in the conversation but have them lead the conversation.
“We’ve recognized what we can do, rolled it out and now we continue to improve it,” Armstrong said of technological and service improvements such as Community Trust’s game changing Mortgage Advisory team and the newly launched Community Trust Café mobile app. “We’re doubling down – 2022 is where we’ll see the next level of it.”
Following the height of the pandemic, there’s been significant transformation and, increasingly, technology and service go hand-in-hand in maintaining broker relationships. The old days of a box of doughnuts and a PowerPoint presentation are gone – now it’s webinars, Google Meets and a greater opportunity to meet more people in ways they want to meet, Armstrong noted. As the “most needed part of alternative lending development and in the mortgage industry generally,” Armstrong says Community Trust is starting the year off strong in those two critical areas.
Armstrong also predicted product enhancements in the alternative lending space as it moves from a historical stepping-stone in clients’ journeys to a traditionally prime lender to a viable – and even preferable – financial solution. That’s what alternative lenders like Community Trust are looking towards, he said.
“Clients are comfortable and see the value in a longer-term relationship and that’s what we’re trying to develop going forward,” he noted. “Where can we provide more value for a client and their broker partners and help them long term?”
The broker community remains critically important to Community Trust, which is “a broker-focused organization,” Armstrong noted. The goal is to continue to provide more options and more solutions, and to listen to what brokers want. Community Trust also plans to continue its education of brokers on how to present alternative lending as a great option for their clients. Not as mainstream as other options may be, Armstrong suggested brokers take the time to explain why Community Trust could be a fit for a client’s needs and elaborate on the solution chosen and the plan of action going forward.
If brokers aren’t sure what Community Trust can offer, Armstrong encourages them to pick up the phone and have a conversation with the Mortgage Advisory team, or meet a BDM for coffee. Don’t hesitate to lay out the situation and ask for an alternative lender’s input, because the ultimate takeaway is that the mortgage industry as a whole is evolving, whether you’re a prime lender, an alternative lender or a private lender. And it’s down to each organization to determine how they’ll meet the challenges – and seize the opportunities – of 2022.
“The last couple years have escalated the process: it continues to change, but so do we,” Armstrong said. “There are a number of great options for clients out there and I’m confident Community Trust is one of them.”
To hear the full conversation, check out the The 2022 alternative lending outlook on CMP Talk.
A privately held Canadian company in operation since 1975, Community Trust prides itself on a creative and optimistic approach to finding you the best options, executed by experienced and capable experts in the financial services field.
