"We want to always dynamically move with whatever's happening in the trends in the markets, whether it's competitive rates or the stability of a product offering"
The rapid and disorienting shifts in market trends – especially considering the outsized-rate-hike environment that has sharply skewed borrowing costs – have emphasized the agility that alternative lenders need to integrate into their operations.
“We want to always dynamically move with whatever’s happening in the trends in the markets, whether it’s competitive rates or the stability of a product offering,” said Lisa Abbatangelo, vice president of mortgage operations at Community Trust.
Complicating the landscape is the omnipresent influence of the pandemic and the resulting supply-chain issues.
“So it certainly makes for fun times, but [it’s] also most important that we’re constantly dynamic in the way we’re reacting to some of those trends,” Abbatangelo added. “In terms of our priorities, our mission is the same, which is to help Canadians become more financially successful and secure and really to help us accomplish this mission.”
Read more: How should brokers educate clients on alternative solutions?
In such a context, the role of the lender in assuring stability becomes even more important.
“Now, as always, we really look to support our broker partners the best way we can by being flexible and responsive and creative,” Abbatangelo said. “Our broker partners are needed more than ever so we can all gather together to help Canadians get through these really challenging times that have been quite unprecedented for many.”
More executive insights on the alternative lending space can be found here.
