The company is prioritizing 'dynamic adaptation and deep broker support' in the year ahead
This article was produced in partnership with Neighbourhood Holdings.
Fergal McAlinden, of Canadian Mortgage Professional, spoke with Jared Stanley, senior director, originations at Neighbourhood Holdings, to discuss the company’s priorities for 2024 and how it’s aiming to help brokers achieve their goals.
Clear communication and a proactive, productive relationship between brokers and lenders have always been essential components of the mortgage process – but they’re more important than ever in today’s market, with affordability issues and rising interest rates presenting their fair share of challenges for borrowers.
On both the broker and lender sides, companies are ramping up their plans for 2024 – and as it prepares for an eventful year ahead, Neighbourhood Holdings is placing a fresh focus on what senior director, originations Jared Stanley (pictured top) describes as “dynamic adaptation and deep broker support”: an approach that’s closely aligned with brokers’ needs in a fast-paced and ever-changing market.
“We’re tailoring our solutions to be proactive, not just reactive, aligning perfectly with brokers’ expressed and unanticipated needs,” he told Canadian Mortgage Professional. “Our strategy continuously evolves, driven by market insights and a commitment to building trust-based partnerships.”
The company’s aim is to act as a partner for brokers in the true sense of the word, he added, empowering them to navigate the market confidently and effectively – with the development of innovative tools and resources for the broker community always at the forefront of its thoughts.
Among the upgrades Neighbourhood is unveiling in the coming year is what Stanley described as a “robust” financial framework, ensuring the company is fully equipped to support the growing needs of brokers.
“Our focus is on agility and efficiency,” he explained, “aligning our capabilities with the rapid growth and innovation in alternative lending.” The company is augmenting its broker toolkit, meanwhile, to help brokers navigate the market with greater efficiency and “set the stage for a year where they can leverage our strengths for their success,” Stanley said.
What should brokers prioritize in their lender relationships in 2024?
The growth of Canada’s alternative lending market has been one of the most noteworthy trends on the mortgage front in recent years – and with that expansion only set to continue in 2024, Stanley emphasized the need for brokers to keep their ears to the ground on the rapidly-changing landscape.
“Understanding the diversity of new lending products and being adaptable to market shifts is crucial,” he said. “They must also be committed to continuous learning to keep pace with the evolving market and technology.”
Building strong and empathetic relationships with lenders as well as clients is crucial to navigating an increasingly complex mortgage process, he added, with that focus on efficiency and education among the best ways brokers can ensure a strong lender relationship.
Embracing innovation and staying ahead of market trends are essential, according to Stanley, while brokers should also prioritize a collaborative approach that fully understands the lender’s perspective on a deal.
Technology set to play even bigger industry role in year ahead
Technology and innovation are playing an increasingly central role in Canada’s mortgage market and shaping the future of the industry in 2024 and beyond. Stanley said Neighbourhood aims not just to adapt to changes, but to be at the forefront of driving them in the lending space.
“Our commitment to innovation extends beyond our products and services to encompass the entire broker experience,” he said. “By leveraging the latest technology and data analytics, we aim to offer predictive insights and personalized solutions that truly set us apart in the market.
“Additionally, we recognize the importance of sustainable and ethical lending practices in today’s market. As we adapt to changing demands, we uphold our commitment to responsible lending. That balance of innovation with responsibility is key to our long-term vision and success.”
Ultimately, Stanley said the Neighbourhood team was looking ahead with eager anticipation for the year ahead, one that’s set to be marked by plenty of change and evolution in Canada’s mortgage industry and alternative lending space.
Despite the challenges faced by borrowers, there’s plenty of opportunity out there for brokers, particularly in the alternative lending space, according to Stanley. “Brokers who are agile, well-informed, and adaptable will find themselves at an advantage,” he said. “It’s a market that rewards foresight, collaboration, and the readiness to embrace new challenges and opportunities.”
With its preparations for the year ahead firmly place, that’s a market that Neighbourhood is poised to thrive in, Stanley said – and the company is focused on helping drive the overall prosperity of the industry through its own success.
“2024 is poised to be a pivotal year for Neighbourhood Holdings, marked by strategic growth, technological advancements, and strengthened relationships with our brokers,” he said. “We’re not just preparing for the future. We’re actively shaping it to create a more efficient, responsive, and ethical mortgage industry.”
Jared Stanley is senior director, originations at Neighbourhood Holdings, an alternative mortgage lender based in Canada.
