Matters WE'RE TAKING OVER
WEST EDMONTON MALL! 2017 CONFERENCE JUNE 11-13
2017
GE MO RTGAd w orl Keynote Speaker: Darby Allen
Title Sponsor
Former Fort McMurray Fire Chief
#GOFORBROKER #MortgageWorld17
May 2017
Romspen Investment Corporation is a non-bank mortgage lender specializing in commercial real estate across Canada and the United States. With over $2 billion under administration, we offer customized mortgage solutions for term, bridge and construction financing from $4M to $100M.
HERE’S TO THOSE THAT SEE THE FUTURE BY INVENTING IT. Blake Cassidy or Pierre Leonard 800 494 0389 | www.romspen.com
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Matters C onfere nce Edit ion
May 2017 A SPECIAL THANKS TO OUR ADVERTISERS... Romspen ����������������������������� 2 Equitable Bank ������������������ 4 VWR Capital Corp. ����������� 9 Cedar Peaks �����������������������11 Alta West Capital ������������13 First National ��������������������15 Prolink Insurance ����������� 27 The Personal �������������������28 Calvert ��������������������������������36 Capital Direct ����������������� 40 Street Capital ������������������42
THIS ISSUE'S ARTICLES
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AMBA MEMBERS MAKE CMP’S HOT LIST
RECA NEW UPDATE: MORTGAGE BROKER PRACTICE ADVISOR JOINS THE TEAM
HOW IMPORTANT IS A 5-STAR CUSTOMER RATING?
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MPC CORNER: GET INVOLVED! WORKING TOGETHER TO INFLUENCE CHANGE
MORTGAGE WORLD 2017 CONFERENCE PREVIEW
IS THERE BLOOD IN THE WATER?
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Matters AMBA Matters magazine is published three times a year and provides fundamental information to members of the provincial association. Offering an opportunity for the industry members to be educated, updated and entertained. Toll Free: 1.888.452.2652 Phone: 403.685.9652 Fax: 403.685.9682 Email: info@amba.ca Web: www.amba.ca Suite 150, 1209 59 Ave SE Calgary, AB T2H 2P6
CMHC - HOMEBUYING STEP BY STEP
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THE PERSONAL: SAFE CYCLING
AMBA SAFE LIST: NEVER MISS AN AMBA EMAIL AGAIN! AMBA 2017 CURLING BONSPIEL HIGHTLIGHTS AMBA MEMBERS GIVING BACK: TMG SUPPORTS THE BREAKFAST CLUB OF CANADA MEMBER PROFILE: MAX SINGH SOCIAL MEDIA HIGHLIGHTS WHAT’S HAPPENING IN THE SOCIAL WORLD
OTHER FEATURES... President's Report 5 Executive Director's Report 6 Industry News 36 2017 AMBA Event Calendar 40
Title Sponsor
AMBA 2017
BOARD OF DIRECTORS
Past President MPC Rep. Government Relations Dave Trithart Cedar Peaks Mortgage Services Ltd.
President Katie McDowell Mortgages Are Marvellous
Vice President Adil Mawji Invis Inc.
Treasurer Stephanie Blake DLC 1st Financial Link
Events Erica Fikkert Equitable Bank
Government Relations Kevin Weeks Weeks Law
Communications Pam Pikkert Dominion Lending Centres Regional Mortgage
Communications Shawn Jewers First National Financial
Education Ryan Spence D+H Broker Services
Education Julie Jeffery Dominion Lending Centres Elevation Mortgage
Membership Tracey Robinson Mortgage Protection Plan
Membership Mark Pullin Cedar Peaks Mortgage Services Ltd.
MPC Rep. Events Mike Wolfe Equitable Bank
Magazine Publisher: Amanda Roy
Return undeliverable Canadian addresses to: Alberta Mortgage Brokers Association Suite 150, 1209 59 Ave SE Calgary, AB T2H 2P6 Art & Design: Erin Lehtisaari Some photos within this issue ©shutterstock.com.
May 2017
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President’s Report
Katie McDowell AMBA President
May 2017
In just a few short weeks it will be time for our annual conference. From June 11-13, mortgage brokers across the province will be taking over West Edmonton Mall (WEM). Mortgage World 2017 will be hosted by the Alberta Mortgage Brokers Association (AMBA) and Mortgage Professionals Canada, with help from our dedicated sponsor partners. The annual traffic to the West Edmonton Mall is on average 30.8 million people. Kicking things off on June 11 will be the trade show in WEM’s busy Ice Palace with a third of it dedicated to a consumer awareness show. Prior to the event, there will be an awareness campaign of the show on local radio stations partnered with the mall. We are sure to catch the eye of many of the shoppers with our contests, game show and free tickets to watch the sea lion show. We have bought out the 4 p.m. sea lion show so we can give shoppers who come to see us at the consumer tradeshow complimentary tickets. Before and after the sea lion show we will be speaking to them about the value of using a mortgage broker and directing them to find a broker through the AMBA website. Make sure you have your AMBA VIP profile ready! On the evening of June 11, we have rented out the waterpark for the conference kick-off party. Get your beach gear out and get ready to have some fun. The following two days will be filled with fantastic educational sessions, economist updates, and fun activities. We’re excited to announce that our keynote speaker this year is Darby Allen, Regional Fire Chief during the Alberta wildfires (now retired). Known as the face of the monstrous Alberta wildfires—and widely celebrated as a national hero—Allen is an exemplar of selfless
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courage and level-headedness under pressure. In spring 2016, he spearheaded the evacuation of the city’s entire population while the rest of the world watched. Throughout the ensuing weeks of operations, he worked tirelessly with first responders and volunteers, who came from across the nation (and globe) to assist. His updates to the media were not only a means of reliable information, but a source of optimism — Allen provided calm reassurance as the lead spokesperson throughout the rescue efforts. So far, 2017 has brought us some challenges with the mortgage rule changes but also opportunities. Now more than ever we can highlight the importance that mortgage consumers consult with a mortgage broker to help them navigate one of their biggest financial decisions. It is important to be well informed and well versed in our new categories of mortgages: uninsurable, insurable, and insured. We will have a session at the conference where a mortgage insurer and lender will explain in detail what they deal with behind the scenes on the pricing of the different types and why. Don’t miss what is sure to be another incredible AMBA and Mortgage Professionals Canada conference! We look forward to seeing you in June.
Darby Allen
Life After The Beast SEE PAGE 18 DARBY ALLEN'S STORY
KEYNOTE SPEAKER
PRESENTED BY
May 2017
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Amanda Roy AMBA Executive Director
Executive Director’s Report
May 2017
Industry Advocacy Is Key Our evolution could be the revolution Advocacy is more than just the work we do with government. That effort is important, especially right now as we await the full impact of the new housing measures and qualification rules. But promoting ourselves to the public, the Canadian consumer, is just as critical — again, even more so thanks to the tightened regulations. The success of those two elements in tandem is the key to the mortgage brokering industry’s future. It’s how we grow in uncertain times. For more than two years, the Alberta Mortgage Brokers Association (AMBA) and Mortgage Professionals Canada have been building the foundation of a partnership that offers more to members and clients through harmonization and strengthens the industry’s influence with government at the provincial and federal levels. We’ve already accomplished much together, most recently spending two great days in Ottawa for the Mortgage Professionals Canada Parliament Hill Advocacy Days. We’ll team up for our second co-branded conference in Alberta in June at the West Edmonton Mall and are adding a consumer element to it for the first time in industry history—an element we are confident will add to our outreach. Mortgage brokers already have a firm grip on the first-time homebuyer with more than 50 per cent of those entering the market for the first time using our expertise to do so. By strengthening our profile as an industry across the country through our message and a history of proven performance, our reach will only grow … and our ability to influence change in our province and across the country will grow with it.
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Today’s crossroads for the industry might seem like a roadblock, but we need to view it as an opportunity. Membership in your associations, provincially and nationally, have never been more important. Neither has your own voice within them. We need to encourage every individual involved in our industry to rally together and help change the landscape for the future by showing the next generation of buyers how valuable we are to them. #bettertogether #MembershipMatters
Amanda Roy Amanda Roy Executive Director
#bettertogether #MembershipMatters
AMBA Members Make CMP’s Hot List The Canadian Mortgage Professionals (CMP) released their 2017 Hot List and AMBA is pleased to announce a number of our members were recognized.
CONGRATULATIONS TO:
Alim Charania Dominion Lending Centres Regional Mortgage Group
Andrew Moor Equitable Bank
Boris Bozic Merix Financial
David Wild Dominion Lending Centres Regional Mortgage Group
Dave McNabb Dominion Lending Centres Regional Mortgage Group
Pam Pikkert AMBA Board Director, Dominion Lending Centres Regional Mortgage Group
Eden Simari Quantus Mortgage Solutions
Gord McCallum First Foundation Mortgages
Hali Strandlund-Noble AMBA WIMI Innovation Award Winner, Fisgard Capital
The Hot List is released annually and highlights Canada’s top 50 movers and shakers who are changing the face of the mortgage industry. From brokers to CEOs, the list is picked by the mortgage community through online submissions.
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Update from the Real Estate Council of Alberta
RECA’s Mortgage Broker Practice Advisor Joins the Team Just over a month on the job, the Real Estate Council of Alberta’s new Mortgage Broker Practice Advisor, Gary Siegle, is busy fielding questions from mortgage brokers and broker delegates across the province. RECA’s mandate includes providing services that enhance and improve the industry, and the business of industry professionals. The creation of a Mortgage Broker Practice Advisor position is a tremendous step forward in fulfilment of this mandate. This initiative is part of Council’s 2016-2020 Strategic Plan, and it will increase Council’s engagement with mortgage brokerage professionals. Gary is now the go-to resource for mortgage brokerages by responding to managing broker and broker delegate questions with practical, timely information, guidance and advisory services that support them in their responsibilities and duties. As Mortgage Broker Practice Advisor, Gary’s main role is to provide practice advice to brokers and their delegates on a wide range of issues, including:
• General brokerage operation;
• Transaction related issues;
• Brokerage to brokerage concerns; and,
• Personal issues that may have an effect on the brokerage operation or dealing practices. Gary is also available to conduct presentations to brokerages and industry organizations on mortgage brokerage practices and regulatory issues, and he will also be assisting in the development of RECA publications and resource materials. If the questions you have require confidentiality, Gary will be able to respond “confidentially and without prejudice.” This means managing brokers and broker delegates can have a discussion with Gary on any brokerage practice issues or personal issues that you or one of the mortgage professionals at your brokerage is dealing with that may be having an effect on their role as an industry professional. RECA will not use these confidential discussions, even about serious matters, in any audit or disciplinary process.
Mortgage Broker Practice Advisor, Gary Siegle
ONGOING CONSULTATION ON OPENNESS AND TRANSPARENCY – HAVE YOUR SAY The Real Estate Council of Alberta isn’t immune to calls from the public, government, media, and industry members to be more open and transparent with its stakeholders. In July 2015, Council began exploring openness and transparency as broad concepts, and more narrowly, specific ways that RECA could enhance its openness and transparency. Like so many other bodies working in the public interest, there are always concerns that we don’t disclose enough. On the other side of the coin, industry professionals sometimes express concern that we share too much, particularly about disciplinary action. Council, through its Governance Committee, undertook significant research on these concepts. That research has culminated in a consultation paper on openness and transparency. This consultation paper is an opportunity for stakeholders to provide feedback on a number of proposals Council is considering. The complete consultation paper, including background on these concepts, results from the research Council undertook, as well as proposals Council is considering, is available here (https://www.reca.ca/industry/ legislation/PDF/RECA-Openness-Transparency-Consultation. pdf). To respond to the consultation questions after reviewing the paper, please click here. (https://www.surveymonkey.com/r/ RECA-Openness-and-Transparency) This consultation will remain open until May 29, 2017.
Gary can be reached at 1-888-425-2754, and is also available via email at gsiegle@reca.ca. If you’re interested having Gary come to your brokerage to make a presentation to your associates, please do not hesitate to send him an email or telephone him directly.
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How Important Is A 5-Star Customer Rating? Mark Pullin, Cedar Peaks Mortgage Services Ltd.
This question seems to have such an obvious answer, yet how many of us actually think of this each and every day, and strive to achieve this result with every customer that is kind enough to give us their business?
THE GOAL To serve our customers with a standard of Work Ethic, Integrity, and Excellence, to provide an Exceptional Customer Experience.
or in the App Store. How often have we heard “Given a 5-Star
I recently purchased an infrared electric patio heater from www.wayfair.ca. After just two months the bulb popped marking the end of that heater. I dreaded the call to Wayfair knowing that the item would have to be shipped at my expense, in its original packaging, and with the original proof of purchase. What I actually encountered was a very pleasant customer service representative who gave me two options:
Safety Rating from J.D. Power & Associates?� It goes without
1 Would you like us to ship you another unit today, or;
If you are like most consumers, you have likely researched a restaurant on Yelp, a resort on Travelocity, a product on Amazon, or looked up customer reviews on a blog, website
saying that we are far more likely to eat, travel, purchase, or deal with a company that has 5-Star Customer ratings and reviews.
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2 Would you like a full refund credited to your payment card today.
That’s it – no return, no picture, no questions. That, in my mind was an exceptional customer experience. Now would be a good time to take a moment to reflect on the last exceptional customer experience you personally encountered, one which you would happily give a 5-star rating to. Is there anything from that experience that you could incorporate into your own business?
would be? Listen to their feedback as they are actually teaching you how to make your service or business better. Work at resolving their concerns immediately, as doing so will not only increase the chance of a repeat customer but also make the next customer’s experience that much better.
Here are a few additional tips to help you create an Exceptional Customer Experience in achieving your goal of a 5-Star Rating from every customer:
•
INTEGRITY Do what you said you would do, when you said you would do it, the way you said you would do it. (A quote from Larry Winget)
EXCELLENCE
Now, achieving 5-Star ratings does not come easy. It does not come without planning, does not come without hard work, and does not come without commitment.
In EVERYTHING you do from start to finish strive to achieve your goal of providing an Exceptional and Ultimate Customer Experience.
Treat every customer as if they were your only customer.
I believe it starts with commitment. We must be committed not only to doing our job, but to taking it to the next level of personal service, understanding, communication, and distinction – all in an effort to create an exceptional customer experience in hopes of getting that 5-Star rating. Fully understanding our customers and over-communicating (if there is such a thing) with them will go a long way in achieving our goal. Are your customers fully aware of the status of their file at the end of each day? One of our customer service goals is to, “Call the customer before the customer calls us." Be different. Don’t do what your competition IS doing, do what they ARE NOT doing. This only makes sense if we are trying to create an ultimate customer experience. It could be knowing your products better, going over and above in an evening or on a weekend, before and after followup, thank you cards or gift baskets, subscription services, birthday, anniversary, or Christmas cards. There are endless possibilities here so be creative. Now comes the tough part. You don’t know if you don’t ask, and you can’t improve if you don’t know. At the conclusion of each transaction ASK THE QUESTION – How did we do? What could we have done better? On a 1 to 5-Star rating where
Group of Companies
MISSION STATEMENT Cedar Peaks Group of Companies is committed to the highest level of excellence and integrity, focussed on achieving ultimate client satisfaction and loyalty in providing alternative mortgage financing and investment opportunities.
DIANNE PULLIN
MARK PULLIN
Mortgage Associate
Broker of Record
403-249-2007
cedarpeaksgroup.ca
May 2017
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G N I Y U B E M HO P E T S Y B STEP The decision to buy a home is a personal one making it difficult to offer the same advice to everyone. In an effort to assist you in advising your clients, CMHC has recently updated the Homebuying Step by Step guide for 2017. With its thoroughness, and accessible tone and style, it will help you validate and legitimize the information and advice you provide to your clients. The guide provides information to help consumers decide if home ownership is right for them, determine whether they are financially ready for such a commitment, provide insight on how to search for, and buy, a home that suits the needs of their family. Moving to a more digital experience, the guide provides links to related online workbook forms that can be filled out, saved and printed out. If your clients still like paper copies, both the guide and the complementary workbook are available for download or can be ordered through CMHC. The workbook provides potential homebuyers information to help them identify their specific housing needs and create a plan that fits with their budget, lifestyle and goals.
RESEARCH SAYS THAT WHEN CANADIANS BUDGET, 93% ALWAYS OR ALMOST ALWAYS STICK TO IT.
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“Becoming a homeowner can be stressful and this guide was able to calm some people’s nerves by answering questions they didn't even know that they had." Wendy Giasson, Social Housing Caseworker, Lanark County
Through market research, CMHC was able to answer the needs of industry professionals with the new update. Keep in mind, that despite having the Homebuying Step by Step guide and workbook, your clients will still want to meet with you for help. To make it easier for them, attach a business card to the guide so they have all the contact information they need in one place. Contact your local CMHC Account Manager for a live demonstration of the new Homebuying Step by Step guide and workbook.
"CMHC's participation in the Home in Peel Affordable Ownership Program received extremely positive feedback with many saying they didn't realize all that was involved with homeownership and that they gained a better understanding of what is truly involved before, during and after the purchase,” says Cathy Aquilina, Account Manager, at CMHC.
For inquiries: 1-800-668-2642 contactcentre@cmhc.ca
80% WHY CHOOSE US?
Full qualification details available June 11 at the Industry Expo Challenge
LOAN-TO-VALUE Tim Hurlbut
BUSINESS DEVELOPMENT BC/AB/ON
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MORTGAGE world
tim@awcapital.ca T 403.254.9075 x 224 C 1.403.928.5436
Title Sponsor
Valued at $6,500
awcapital.ca AWC - AMBA 7.5x9.5 ad.indd 1
2016-12-07 2:28 PM
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R E N R O C MPC
! D E V L O GET INVTOGETHER
WORKING E G N A H C E C TO INFLUEN Changes to mortgage insurance and eligibility announced last October by the federal government have had a significant impact on first-time buyers across Canada, and is harming the competitive position of smaller and mid-sized lenders within the mortgage broker channel. Since the announcement, Mortgage Professionals Canada and AMBA have been diligently working to educate Members of Parliament (MPs) about the negative effect the changes will have on their local economies. Together, we have had direct discussions with over 50 federal MPs, as well as discussions with senior policy staffers at the Ministry of Finance and in the Financial Sector Policy Branch.
Paul Taylor MPC, President and CEO
Our efforts are starting to pay off. Our appearances before the federal Parliamentary Committee in late January and early February were a direct result of our collective efforts to bring these issues to the forefront. To further reinforce our message, Amanda Roy and Dave Trithart of AMBA joined us in Ottawa in early March for our first annual Parliament Hill Advocacy Days. Over the course of the two days, volunteer teams of brokers, lenders and insurers presented our issues and raised awareness of their detrimental impact to Canadians, both in terms of the increased mortgage rates, and the reduction in competition in the marketplace.
We will continue to initiate and attend meetings with MPs but we also need you to get involved in your associations’ efforts! It is imperative that we all work together to rally behind our collective voice. The more our members support our messaging and get involved, the greater chance we’ll have of affecting change. If you haven’t already done so, I encourage you to write to your local MP. To assist you with the process, we have developed an easy and effective tool for you to reach your MP which automatically creates and sends a letter on your behalf. Also, if you have clients who have been negatively impacted by the changes, we have created a letter template for consumers to help make their voice heard directly with government. And, if you are comfortable meeting with your MP personally and delivering our key messages, we have prepared consistent and compelling speaking notes for members to use. For more information, please visit the Advocacy section at mortgageproscan.ca.
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If you would like to meet with your MP but aren’t sure how, please contact myself or Samuel Duncan, Manger of Government and Policy (sduncan@mortgageproscan.ca; 416-644-5466) and we’ll work with you to facilitate the meeting. We need to reach as many MPs as we can if we want our voice to resonate in Ottawa. The more awareness we create, the stronger our position will be. Together we can make a difference!
ptaylor@mortgageproscan.ca 416-644-5465 / 1-888-442-4625
Strong teams that champion your business
How do you deliver on the rigour of deals without sacrificing the client experience? Rely on a team. At First National, your account manager and underwriter provide both skills and support. Underwriters pick up the phone. And when they do, they have answers. They know that speed matters. They’re reliable, consistent and committed to getting you that yes. Account managers are in your corner. They fight for your clients. They know which product works for which client. You are supported every step of the way, with every client. A team. Skills and support. Resources you can rely on. That’s what it really takes to champion your business. That’s what it really takes to go beyond service. For more information on how First National can champion your business, visit our website www.firstnational.ca.
Going beyond service.
Ontario Mortgage Brokerage License No. 10514
May 2017
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E G A G T R MO world Title Sponsor
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We're taking over the largest mall in North America for our annual conference, promising you an action-packed few days in the urban wonderland that is the West Edmonton Mall. Mortgage World 2017 will be packed with educational seminars, engaging speakers, top-notch entertainment, and plenty of fun activities in a venue that offers a whole lot of variety.
OFFICIAL ACCOMODATIONS – FANTASYLAND HOTEL With more than 800 retailers and services, the world’s second largest indoor waterpark, an NHL-sized skating rink, an amusement park, a replica Christopher Columbus ship, and plenty of other attractions, we’ll make use of what the West Edmonton Mall has to offer. That includes the on-site Fantasyland Hotel, full of incredible theme rooms like the Roman, African and Hollywood suites.
ALL NEW TRADE SHOW FORMAT We have an exciting new tradeshow format this year—we're introducing a consumer show open to the public. This show will feature our co-branded “Value of a Mortgage Broker” campaign, 10 broker company booths, as well as a live game show, contests, and sea lion show tickets for shoppers to win. Our industry side of the show will be as busy as ever, with more than 40 exhibitors for delegates to visit and the chance for one lucky broker to win an Alaskan cruise vacation for two. Read more about our consumer show on page five in Katie McDowell’s President’s Report.
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#GOFORBROKER #MortgageWorld17
DAY ONE SUNDAY, JUNE 11, 2017 Expos at West Edmonton Mall (WEM) 12:30 - 6:00 PM
Consumer Expo (WEM - Ice Palace)
Value of a Mortgage Broker Campaign Presented by AMBA and MPC (Open to Public)
1:00 PM
Interactive Mortgage Game Show Experience
2:00 - 6:00 PM
Industry Expo (WEM - Ice Palace)
Mortgage World Public Expo 12:30 p.m. – 6:00 p.m. at the Ice Palace
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This first of its kind, Public Expo was designed to be inviting to the more than 11,000 shoppers that will roam the mall June 11, and help spread the word about mortgage brokers and the options they provide to clients. Title Sponsor
®
*Industry Expo Challenge Begins
4:00 PM
Mortgage World sponsored Sea Lions Show (Open to Public)
HIGHLIGHTS: Exciting public contests and giveaways, live entertainment, a sponsored sea lion show at the mall’s marine life park, and a kids’ corner.
Mortgage World Industry Expo 2:00 p.m. – 6:00 p.m. at the Ice Palace Our industry show is sure to be bustling with activity because we’re happy to announce we’ll be welcoming your families inside this year.
HIGHLIGHTS:
Registration at Santa Maria Ship 2:00 - 4:30 PM
Registration Voyage — Santa Maria Ship
Bermuda Shorts Party at World Waterpark 6:30 PM
Doors Open
(Tickets required) (Wave Pool, Waterslides, Zip Line, Hot tubs and Cabanas and Patios)
Cocktails 7:00 PM
BBQ Buffet
7:30 PM
Kick-off Greetings
8:00 PM
Corporate Surf Challenge – Presented by Alta West
(In support of Community Key)
9:30 PM
Park closes
#GOFORBROKER #MortgageWorld17
More than 40 exhibitors, live entertainment, lots of treats and the chance to win a dream vacation (only brokers are eligible). Visit amba.ca to find out more about what you can win through our contests—and how!
Bermuda Shorts Party 6:30 p.m. - 9:30 p.m. at the World Waterpark
JUNE 11 IS FAMILY FUN DAY! BRING YOUR KIDS FOR THE CONFERENCE KICKOFF Bring your family along to join in the fun at WEM. There will be something for everyone, with lots of excitement all day long capped off with a party at the water park. We’re closing the attraction to the public and taking it over for the evening with our Bermuda Shorts Party. Tickets are $40 per adult, $25 per child. There will be fun for all ages at this tropical paradise, which boasts the world's largest indoor wave pool and more than 21 unique waterslides, a zip line, a surf simulator and two children’s play areas. Bathing suits aren’t required, but flip flops and shorts are! It will be a paradise for water lovers and thrill seekers, but the land lovers (sunbathers) and less adventurous will have a blast too!
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KEYNOTE SPEAKER
PRESENTED BY
Darby Allen: Life After The Beast Title Sponsor
It’s been a year since the wildfire coined “The Beast” ravaged Fort McMurray, and it’s still considered an active fire burning near the Saskatchewan border after smouldering through the cold winter months. Meanwhile, the man hailed a hero for his efforts and leadership in safely evacuating the community no longer battles fires, and didn't believe it was a good idea for him to go back for the anniversary. Admittedly struggling emotionally since the fire, recently retired fire chief Darby Allen calls Vancouver home now. Rather than join residents for the tranquil and welcoming gathering planned for Syne Park to reflect and share stories about the fire that laid waste to 10 per cent of the town, damaging or destroying some 2,400 structures, Allen will focus on family. “It’s time for me to move on and continue with the next phase of my life and give full attention to my lovely wife, Maria,” Allen said in a phone interview ahead of his keynote speech at June’s annual conference in Edmonton. But the man who tied for third in voting with Canadian Olympian Penny Oleksiak for The Canadian Press Newsmaker of the year in 2016 after becoming the face and leader of the northeastern Alberta community’s scramble to combat “The Beast” will never completely move on from his past. His story became as big as the fire, and Darby now travels across North America speaking professionally about the events and how they relate to individuals and businesses in their everyday lives. Nearly 90,000 people were forced to flee the inferno and were kept out their homes for at least a month. Fort McMurray Mayor Melissa Blake says it isn’t even certain if all the affected neighbourhoods can or will be rebuilt in the future. Allen was responsible for ensuring they lost only property or personal effects, and not their lives. That wasn’t an easy task thanks to low humidity and changing wind directions. Allen knew it was going to be a long and arduous day when the fire swept through town on May 3. “Thankfully everyone got out,” said Allen. “We had to evaluate and absorb information quickly, reacting right then and there.”
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It’s no wonder he’s looked to now for guidance on how to be a stoic, quick-thinking leader in the face of tough situations. Not much time passed from the fire’s inception to the evacuation process, and they also had to plan to fight a fire that grew to greater than the size of Prince Edward Island. Crisis leadership has been a frequent topic of Allen’s talks. “You have to make decisions in a very short time space. That’s the big difference between general leadership and crisis leadership, making quick decisions with limited information,” said Allen, who relied heavily on the performance of many colleagues to walk away with successful outcomes. “Overall, you need to treat people respectfully. Tell them you trust them, trust they’ll go forward with that to the best of their ability, which is what we did in McMurray.” While he says the fire wasn’t just about him, Allen knows it was a career defining moment. Even in hindsight, he wouldn’t do anything differently. “No question it was the biggest event of my career,” he said. “I look back on those days with pride and I’m so thankful for what everyone did. Nobody could have done more.”
#GOFORBROKER #MortgageWorld17
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THIS YEAR'S GUEST SPEAKERS
GE MORTGAd worl Title Sponsor
GUEST SPEAKER PAT KELLY Member of Parliament, Calgary Rocky Ridge
Pat Kelly was elected as Member of Parliament for Calgary Rocky Ridge in October 2015. He is currently the deputy critic of the Treasury Board and is a member of the Standing Committee on Access to Information, Privacy and Ethics. He is also a member of the Canadian Branch of the Commonwealth Parliamentary Association (CPA). Pat graduated from the University of Calgary in 1994 with a B.A. in Political Science. Since then he worked as a mortgage broker and was the co-owner of a successful mortgage brokerage. He has twice served as the President of the Alberta Mortgage Brokers’ Association (AMBA), and sat on the Real Estate Council of Alberta (RECA).
GUEST SPEAKER KIM SMADIS Wellness Advocate and Business Owner, Pure Life Balance
Kim is a wife, mother, and former senior corporate executive whose reality completely changed in 2010 after she suffered more life-changing events than ever thought possible: losing her grandmother; being diagnosed with Stage 3 breast cancer; hearing that her best friend had also been diagnosed with breast cancer; and eventually losing her mother. When Kim began to research her cancer, she was horrified to learn that much of it was because of her environment – daily stresses and what she put in and around her body. By employing the practices she now shares with others, Kim was able to grow from her experience and come out on the other side healthier and more connected to her family than ever before. Through coaching and speaking across Canada, Kim inspires people to take charge of their health and happiness by adopting a pure lifestyle that includes self-care, non-toxic living and eating, and adopting a healthy work-life balance.
GUEST SPEAKER WILL DUNNING Chief Economist, Mortgage Professionals Canada
Will has been developing his economic research and market analysis skills since 1982, and is now one of the most respected housing analysts in Canada. Since 2000, Will Dunning Inc. has provided housing market analysis services to a wide variety of clients in the private, public, and not-for-profit sectors. Will's greatest specialization has been in analysis of apartment markets (including both rentals and condominiums). From 1982 to 1997, he worked in various market analysis capacities at the federal housing agency, Canada Mortgage and Housing Corporation. From 1991 to 1997, he was the manager of CMHC's survey and market analysis functions in the Greater Toronto Area. From 1997 to 2000, Will was second-in-command at a Toronto-based real estate consulting company. Will has a Master of Arts degree in Economics from the University of British Columbia (1981) and a Bachelor of Arts degree (Economics) from McGill University (1979).
#GOFORBROKER #MortgageWorld17
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THIS YEAR'S GUEST SPEAKERS GUEST SPEAKER TODD HIRSCH Chief Economist - ATB Financial
For more than 20 years, Todd has worked as an economist at numerous organizations including the Canadian Pacific Railway, the Canada West Foundation and the Bank of Canada. For almost a decade, Todd taught economics at the University of Calgary. He released his first book, The Boiling Frog Dilemma: Saving Canada from Economic Decline in 2012, his second, Halfway Home in 2016 and his third, Spiders in Space: Successfully Adapting to Unwanted Change in 2017. Todd provides economic commentary for many Canadian media outlets and is a regular contributor to the Globe and Mail. He currently serves on the University of Calgary Board of Governors and is the chair of the Calgary Arts Academy. Todd recently received the University of Alberta's Alumni Honour Award. He holds a BA Honours in Economics from the U of A and an MA in Economics from the University of Calgary.
GUEST SPEAKER MARC SHENDALE Vice President, Business Development - Genworth Canada
Marc is Vice President, Business Development at Genworth Financial Canada responsible for the development and execution of national sales strategies directly linked to mortgage brokers and lenders. These include key initiatives such as process innovation, new products, strategic partnerships and the development of online resources.
GUEST SPEAKER JASON ELLIS Managing Director, Capital Markets - First National Corporation
Jason Ellis is the Managing Director, Capital Markets for First National and is responsible for interest rate risk management, funding, and securitization for all commercial and residential mortgage origination. Prior to joining First National in 2004, Mr. Ellis was with the Asset/ Liability Management group at Manulife Financial and with RBC Dominion Securities in Toronto and New York where he traded fixed income and interest rate derivatives. Mr. Ellis holds a BA degree from the University of Western Ontario, a MBA degree from McMaster University and is a CFA charter holder.
20 May 2017
#GOFORBROKER #MortgageWorld17
THIS YEAR'S GUEST SPEAKERS
2017
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GUEST SPEAKER BRAD FISCHER Director, Insurance & Guarantee Risk - CMHC
Brad has over 15 years’ experience in Financial Risk and joined CMHC in the role of Director, Insurance and Guarantee Risk in September 2015. In this role, Brad holds responsibility for CMHC`s Corporate-wide stress testing program. Brad started his career at Scotiabank – Global Risk Management as a Senior Analyst, Value-at-Risk. He then held progressively more responsible positions as Senior Analyst, Market Data; Senior Manager, Securities Aggregation; Director, Credit Risk Processes; Director, Basel Program Office; and Director, Exposure & Capital Analysis – Market Risk. Brad has also worked for the Bank of Montreal’s Central Risk Group where he was responsible for leading the independent review of the Bank’s Internal Capital Adequacy Assessment Process and ensuring OSFI compliance. Brad is a CFA Charterholder and holds an Honours Bachelor of Commerce.
PANEL: SECURITY AND PRIVACY Data Security and Privacy Breach – CASL Update
Moderator: Derrick Leue, Prolink Insurance. Panelists: Eric Dolden, Legal Expert, Partner Dolden Wallance Folick LLP; Greg Markell, Insurance Underwriter Expert, President Ridge Canada Cyber Solutions; Serge Solski, Cyber Security Technology Expert, President Advise Aware.
ALTERNATIVE PERSPECTIVE PRESENTATION
SEE PAGE 22
Dale Koeller, Private Home Mortgage Lender, Calvert Home Mortgage Investment Corporation, and Will Dunning, Chief Economist, Mortgage Professionals Canada. An economic roadmap: how to read the signs; In our industry, we discuss the economy a great deal, and we follow the statistics and economic measures, but what does it all mean and how do you use this information in your business? This presentation will explore what economic indicators matter most, and how to interpret them. We’ll cover how they affect the decisions lenders make that directly affect their offerings for your clients.
#GOFORBROKER #MortgageWorld17
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2017
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CONCURRENT SESSIONS
Delegates will have the option to attend three of the five sessions during the three-day conference. Learn more about each of our speakers at amba.ca
DUSTAN WOODHOUSE Mortgage Broker & Author “I’m a Mortgage Broker”
Topic: “A New Conversation” This year is shaping up to be one of the most dynamic for our industry. The good news is that when it comes to harnessing the ability to clearly communicate scripts, we are on a level playing field with all channels. In fact, it could be argued that brokers have the advantage in what has become an exceedingly complex conversation based on the simple question: what’s your best rate? Beyond knowing how to have the conversation, the real skill for mortgage brokers will be controlling when these conversations are taking place. The pre-approval to final approval process has been shaken up. Have you got a handle on what to say, but also when to say it?
MEGAN MCDONALD Vice President Sales, MCAP Topic: “Evolve: The Key to Success”
Discover how your current mindset might be preventing you from experiencing even greater success. Megan’s presentation will explore the dynamics of the human mindset and empower you to challenge your current mindset related to change and make the choice to evolve to become a more successful mortgage professional. Walk away from this presentation with tools to thrive in the face of change so you can achieve even greater success in your mortgage professional career.
SELINA GRAY Financial Expert Topic: “Money Boss”
Learn how to align your monthly cash flows with your priorities to reinvent your relationship with money. This presentation focuses on tax strategies, removing unnecessary costs, and passive income to grow your net worth and re-energize your business!
SUE STYLES Business Coach & Author, MR Maximized Results Topic: “Turning Support Staff into Support Stars”
Sue focuses her presentation on her top three keys to hire, train and retain excellent support staff. Once an Agent hits the 30- 40 deals per year mark they need some help! Styles has been assisting with hiring and training excellent staff for more than a decade and loves to share insights that will help employers turn their support staff into support stars.
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DAY TWO MONDAY, JUNE 12, 2017 7:30 AM
Rise and Shine WEM Run/Walk
9:00 AM
Eggonomics - Breakfast with Will Dunning & Todd Hirsch (Beverly Hills Ballroom – Fantasyland Conference Centre)
10:00 AM
Leave the Stress at the Door - Health and Wellness Presented by Kim Smadis, Advisor (Beverly Hills Ballroom – Fantasyland Conference Centre)
10:45 AM
Refresh Break
11:00 AM
Concurrent Sessions — Round One (Fantasyland Conference Centre)
11:55 AM
Concurrent Sessions — Round Two (Fantasyland Conference Centre)
1:00 PM
Opening Ceremonies & Industry GR Luncheon with Pat Kelly (Beverly Hills Ballroom – Fantasyland Conference Centre)
2:10 PM
CASL Panel Discussion — Hosted by Derrick Leue (Beverly Hills Ballroom – Fantasyland Conference Centre)
3:00 PM
Free Time
3:30 PM
Corporate Roller Coaster Challenge Begins (In Support of Community Key)
6:00 PM
WIMI event (L1 Lounge – Fantasyland Conference Centre)
AMBA Awards Gala at Fantasyland Conference Centre 7:00 PM
Cocktails (Fantasyland Conference Centre)
7:45 PM
AMBA Awards/ Entertainment (Beverly Hills Ballroom – Fantasyland Conference Centre)
11:00 PM
After Party on Bourbon Street at Hudsons
#GOFORBROKER #MortgageWorld17
2017
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Since 2006, AMBA has celebrated industry accomplishments by recognizing the foundation that has allowed the association to thrive for four decades—our members. On June 12 at the Fantasyland Hotel & Conference Centre, we will celebrate the best of the best at our formal event, showcasing the commitment and passion of our most dedicated members. It will be an event to remember. AMBA’s awards honour the standout mortgage professionals in our province, highlighting the achievements of our members for their longevity, leadership, ambassadorship, partnership, volunteering efforts and overall excellence.
2017 Nominees: Bhavna Chavda
Phil McDowell
Pat Forigo
David McNabb
Denise Hendrix
Jared Morrison
Josh Higgelke
Dianne & Mark Pullin
Paula Hutton
Darren Quilley
Julie Jeffery
Tracey Robinson
Yousra Johma
Sarah Strauss
Gord McCallum
Dave Trithart
It is our honour to announce Everett Koeller as the winner of a Lifetime Achievement Award. We are excited to have Everett Koeller as our special guest at the Awards Gala on June 12 and look forward to honouring him and celebrating all 2017 award winners for their accomplishments.
Presented by
#AMBASTARS May 2017
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FIVE MUST-SEES AT WEST EDMONTON MALL
2017
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Take advantage of all the mall has to offer and what your registration at the conference has to offer you. We’ve got discounted tickets for mall attractions available through the concierge at the Fantasyland Hotel.
ICE PALACE This year, the tradeshow will
COLUMBUS’S SANTA MARIA
WORLD WATERPARK This tropical
GALAXYLAND The world's largest indoor
be held in WEM's Ice Palace and introduce an exciting Consumer Expo open to shoppers on a busy Sunday as part of our Value of a Mortgage Broker campaign, in addition to our Industry Expo for delegates only.
paradise boasts the world's largest indoor wave pool and more than 21 unique waterslides and play features. What better place to kickoff the conference than with a bermuda shorts party in paradise.
When you arrive to check in for the conference, climb aboard the Santa Maria— an exact replica of Christopher Columbus' flagship for his first voyage across the Atlantic Ocean in 1492.
amusement park features more than 27 spectacular rides, attractions and play areas for all ages. Ride the rollercoaster—or make someone else ride it—while raising money for Community Key!
SEA LIFE CAVERNS Explore marine life
at the underground aquarium that is home to more than 100 species of fish, sharks, sea turtles, penguins, reptiles, amphibians and invertebrates.
24 May 2017
#GOFORBROKER #MortgageWorld17
DAY THREE TUESDAY, JUNE 13, 2017
2017 CONFERENCE SPONSORS
7:30 AM
Yoga (Fantasyland Conference Centre)
8:45 AM
Breakfast Buffet (Beverly Hills Ballroom – Fantasyland Conference Centre)
TITLE SPONSOR
9:00 - 9:50 AM
Behind the Scene: The Money Trail dissected – Genworth & Lending Partner (Beverly Hills Ballroom – Fantasyland Conference Centre)
DIAMOND SPONSOR
9:55 - 10:45 AM
Concurrent Sessions— Round Three
10:50 - 11:40 AM
CMHC Presentation (Beverly Hills Ballroom – Fantasyland Conference Centre)
11:40 - 12:00 PM
Checkout (Noon)
2017
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GOLD SPONSORS
®
SILVER SPONSORS
Keynote Presentation at Fantasyland Conference Centre 12:00 - 12:50 PM
First National Keynote Darby Allen, former Fort McMurray Fire Chief (Beverly Hills Ballroom – Fantasyland Conference Centre)
12:50 PM
Alaskan Cruise and Down Payment Giveaway–Winner Reveal **you must be in
attendance to win this prize.
Courtesy of Equitable Bank, AMBA and MPC (Beverly Hills Ballroom – Fantasyland Conference Centre) 12:55 PM
Closing Remarks
1:00 PM
Departure
#GOFORBROKER #MortgageWorld17
BRONZE SPONSORS
ASSOCIATE SPONSORS
®
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Summer 2017 Edition
Is There Blood in the Water? Derrick Leue, President, PROLINK Insurance Group Inc.
You would not want to venture into shark-infested waters with an exposed wound. We know that sharks are attracted to blood in the water so avoiding the water represents basic risk management. A parallel can be drawn to the digital world with hackers looking for vulnerabilities when attacking companies and individuals. Why then do brokerages and small to mid-sized lenders operate in the digital world without a proper cyber security plan? In the Ernst & Young 2016-17 Security Survey, the key Canadian findings show 98 per cent of survey respondents report their cyber security function did not meet their organization’s needs. 60 per cent of respondents stated that control or process failure led to their most significant cyber breach. The statistics show that human error, malicious employees and poor IT protocols are the most common causes of privacy and data breaches. The sharks will attack if they see that you are vulnerable in the digital world.
HOW PAINFUL ARE THE ATTACKS?
THE COSTS OF AN ATTACK
The most common questions that I am asked by owners of mortgage brokerages and lenders are how did a company suffer the privacy breach and what did it cost them? In 2015, we had very few examples to share. In Q1 2017 we have been notified of more privacy breaches by clients compared with all of 2015. For our clients, the majority of breach problems are a result of two issues:
Our clients are always surprised by the costs they incur when they experience a cyber security incident.
Human error: a) losing a laptop, handheld device or USB storage device; or b) clicking on a link resulting in phishing or ransomware/ malware affecting the computer network. Poor information security and protocols: weak system passwords, employees do not securely store passwords and inadequate anti-virus and firewall software. For a much larger sample size we can review the Alberta Office of the Information and Privacy Commissioner’s (“OIPC”) publication which categorizes the breach notifications they received in 2015 and 2016 as follows: Accidental disclosure of information (i.e., an error):
36 per cent
Hacking or malware:
26 per cent
OU ARE Y TED? C E PROT
Loss or theft of portable devices: 13 per cent Loss or theft of hardcopy records: 11 per cent Social Engineering:
6 per cent
Insider theft and intentional disclosure (i.e., malicious employees): 5 per cent Other: 3 per cent
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The immediate expenses: Hire a cyber security firm to help you identify the extent of the breach, fix the problem and hopefully prevent it from happening again; Replace, restore or recollect data that was corrupted or destroyed; Loss of income and extra expenses incurred due to interruption of their network system; Hire a PR firm to help you effectively communicate to reduce reputational harm.
The Regulatory related expenses: Starting in late 2017 there will be a mandatory requirement for organizations to give notice to affected individuals and the Privacy Commissioner under the Digital Privacy Act. The law will make the notification mandatory where it is reasonable to believe that the breach creates a “real risk of significant harm” to the individual. The privacy commissioner’s threshold of the type of personal information that constitutes “real risk of significant harm” is going to be fairly low. The type of personal information that mortgage brokers and lenders collect will almost certainly be deemed to pose a “real risk of significant harm.” The regulatory requirements will result in the following new expenses for mortgage brokerages and lenders: Legal costs to hire an experienced privacy lawyer to review your breach circumstances and report to the Privacy Commissioner on your behalf. Legal costs to respond to a regulatory body’s investigation or hearing related to the breach. The regulatory body could be the Office of the Information and Privacy Commissioner, RECA, the ASC etc.
Legal costs to draft the breach notification letter to be sent to all affected parties. Cost of sending breach notifications by registered letter to each affected individual. Cost of providing credit monitoring services to affected individuals for many months or years. Fines and penalties levied against you by the Privacy Commissioner.
the industry to privacy breaches, the potential consequences, and the reasonable actions you should take to reduce your exposure.If you are held liable in a professional negligence claim where the amount of the damages exceeds the minimum requirement of $500,000 per claim, you can't just declare bankruptcy, start over, and expect there to be no impact on your personal life or assets. Adequate E&O Insurance enables you to cover the expense, not run from the consequences. We strongly encourage broker principals to consider purchasing more than the RECA required minimum of $500,000 per claim.
The longer-term expenses: Loss of business due to reputational harm. Individuals and organizations may be reluctant to trust you with their business. Lawsuits brought by affected third parties. Court awarded liability damages you are required to pay to third parties.
Everyone in the mortgage industry needs to accept that swimming in shark-infested waters requires a proper risk management plan to sustain the attacks. The costs of swimming wounded are too high. We encourage you to attend the panel discussion on Cyber Risk at the 2017 AMBA conference in Edmonton on Monday, June 12. Our panel of industry experts will debate the exposure of
LEARN MORE ABOUT THE AMBA E&O PLUS+ PROGRAM INCLUDING CYBER INSURANCE The PROLINK Insurance Group Inc. is the proud manager of the AMBA Insurance program. Please contact a representative from the PROLINK Insurance Group’s AMBA Service Team in order to learn more about how Cyber Insurance protects you. P. 800-663-6828; Derrick Leue: DerrickL@PROLINK.Insure Website: www.PROLINK.insure/AMBA
Introducing an Enhanced E&O Plus+ for AMBA Members
a proud PROLINK partner
AMBA’s endorsed insurance partner now offers members better protection Why connect with PROLINK, AMBA’s broker of choice? OUR CONNECTION: • To AMBA means that you receive coverage that is truly customized for mortgage brokers and administrators: • Data Security and Privacy Breach protection is included now that the Canadian Digital Privacy Act is changing; • Directors and Officers Liability insurance is included because owners deserve broader protection; • To members means that we pool together premiums to provide lower rates; • To Canada’s most experienced E&O underwriter for mortgage brokering means that you get claims service from a company that actually understands your business.
Call us at 1-800-663-6828 Ask for the AMBA team. It will be well worth your time!
BUSINESS
AUTOMOBILE
LIFE
AMBA@PROLINK.insure
HEALTH
TRAVEL
PROLINK.insure/AMBA
PROPERTY
May 2017
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If my dishwasher is leaking, how will I know before it’s too late?
Get alerts on your smartphone if water is detected at your home
YOUR PERSONAL CONNECTION... NOW AT THE TOUCH OF A BUTTON Join The Personal and download The Personal App, where you can enjoy peace of mind, knowing that you will be notified in real time if water leakage is detected, before it gets worse, with Alert. Plus, enjoy EXCLUSIVE GROUP RATES, additional discounts, customized coverage and no-hassle claims on your home and auto insurance!
MAKING INSURANCE EASY FOR YOU Get a quote. Download the App.
1-888-476-8737
thepersonal.com/mobileapp-amba
The Personal refers to The Personal Insurance Company. Certain conditions, limitations and exclusions may apply. Auto insurance is not available in Manitoba, Saskatchewan or British Columbia due to government-run plans. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google Inc.
The right fit.
G N I L C Y C SAFE Spring is here, and cyclists all over Canada will soon be lacing up their shoes and hitting the road on their bikes. After, all, what’s better than the sun on your back and a set of wheels to take you where you want to go? Before you head out, check out these tips for safe cycling. Protect yourself!
A HEALTHY ACTIVITY Cycling is a practical, healthy and inexpensive way to get around, and summer is a prime time for pulling your bicycle out of storage, dusting it off and hitting the road. Cycling has become popular because it's less stressful on the body than running. In addition, with gas prices on the rise, cycling is a cost-effective alternative form of transportation.
SHARING THE ROAD WITH MOTORISTS Cycling is a safe activity, providing you take certain precautions. 1. Know the law: Bicycles are vehicles, just like cars or trucks, with the same rights and responsibilities. Cyclists can ride on all public roads except highways and their entry and exit ramps. Cyclists must obey all traffic laws – ride on the right side of the road, ride sober, stop for stop signs and red lights, signal turns, and yield to traffic. Fines apply to cyclists too.
2. Be seen and heard: Bicycles are small and quiet. Invest in a bell or horn. Reflective tape on your clothing, reflectors and a front light make you more visible. During the day, wear bright colours. 3. Wear a helmet: Helmets are not compulsory for adults over 18, but it’s just common sense to wear a CSA-approved helmet. If you fall, it can greatly reduce the risk of permanent injury or death. The helmet should fit snugly and cover your forehead. If it’s been in a collision, replace it. 4. Ride defensively: Anticipate the actions of cars and pedestrians. Look for potholes and debris on the road. Wet or cold weather can make riding challenging – handle your bike accordingly.
IS YOUR BIKE WELL MAINTAINED? Make sure your bicycle is the right size and fit. You should be able to straddle it with both feet on the ground. Next, keep it well maintained. If anything is broken, fix it. Be prepared with an emergency toolkit in case a tire goes flat, the chain comes loose or the brakes fail. Before you ride, check things like: • Are brakes adjusted, with brake pads and cables in good condition? • Is the chain loose? Does it need oiling? • Do all the gears operate smoothly? • Are the wheels secure? Do the tires need to be filled with air? Continued on page 28
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SAFE CYCLING CONTINUED PROTECT YOUR INVESTMENT More bikes on the road means more potential for collisions, injuries or theft. Although your bike is insured under your basic home insurance policy, if you have a top-of-the-line bike, you may want to add a rider to your existing insurance. Losses can run into thousands of dollars. For serious cyclists, members of Cycling Canada can get bicycle insurance for up to $25,000.
Checklist complete? Now, get out there and enjoy the fun of cycling this summer!
MORE ON THIS TOPIC CAA bicycle safety quiz https://www.caa.ca/bike/ Rules of the Road (Government of Quebec) https://saaq.gouv.qc.ca/en/road-safety/modestransportation/bicycle/safe-cycling/ Government of Canada task force to improve bike safety and awareness news.gc.ca/web/article-en.do?nid=1131139
AMBA has a group sponsorship agreement with The Personal Insurance Company with regards to home and auto insurance for our members.
To find out more, call 1-888-476-8737. The Personal refers to The Personal General Insurance Inc. in Quebec and The Personal Insurance Company in all other provinces and territories of Canada. The information provided is meant to be illustrative only and does not constitute or replace the advice of experts. The Personal assumes no liability with regards to how such information is used.
30 May 2017
N A S S I M NEVER ! N I A G A L I A M E A B M A
MAKE SURE YOU'RE GETTING OUR EMAILS! There’s a lot happening in your industry and you shouldn’t miss a thing. Now, more than ever, it is critical for you to stay connected and up to date on the latest news affecting your business. We want to keep you updated on the changing regulatory environment through our relationships at the federal and provincial level, while also providing you with top-notch educational opportunities, networking events, and industry publications. Help us honour this commitment to support you by making sure you are receiving our communications. Please take a moment to visit this page https://www.amba. ca/content/stay-connected-amba-take-action and follow the steps for your email provider to ensure you never miss a notification.
May 2017
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CURLING FESTIVITIES HIGHLIGHTS Our third annual Curling Bonspiel in Edmonton was a success with a great turnout at the Derrick Club and the pre-competition function at LOCAL Public Eatery.
TOURNAMENT CHAMPIONS Brought to you by Cedar Peaks:
Pat Forigo, Alfred Gabriel, Jason Hatton, and Cheryl Buhs
B CHAMPIONS
C CHAMPIONS Brought to you by
Shawn Jewers, Mark Holtom, Sandra Forscutt, and Jill Pollard
Chita Metcalf, Katy Smith, Sean Goriuk, and Leanne Smith
Brought to you by Merix:
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Invis and Mortgage Intelligence:
D CHAMPIONS
MOST SPORTSMANLIKE TEAM
Andrew Bealer, Vincent Arcand, Evangeline Thasitis
Sandy Fisher, Erica Fikkert, Crystal Mamchur and Shirley Key
Brought to you by Caplink: Gord Appel,
Courtesy of VWR Capital:
TURKEY SHOOT WINNER Shawna Rhode from Axiom
goes
LOCAL Kick-Off Party
Thank You!
TO ALL OUR SPONSORS FOR SUPPORTING THE 2017 CURLING BONSPIEL IN EDMONTON.
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MEMBERS GIVING BACK
TMG THE MORTGAGE GROUP SUPPORTS THE BREAKFAST CLUB OF CANADA WHAT CHARITY DOES TMG SUPPORT? Breakfast Club of Canada (BCC)
HOW MANY TMG EMPLOYEES ARE INVOLVED?
WHAT DOES TMG DO FOR THEIR CHARITY OF CHOICE?
Brokers across Canada in all TMG The Mortgage Group offices participate in fundraising and volunteer activities for Breakfast Club of Canada.
TMG supports Breakfast Club of Canada through payroll donations, onboarding training donations, and several fundraising events throughout the year. Last year, these events included:
APPROXIMATELY HOW MUCH TIME DO TMG EMPLOYEES DEDICATE TO SUPPORT THIS CHARITY?
• National Smoothie Day- Brokers go to schools to make breakfast smoothies for the kids in the program. • A charity golf tournament • A Wine Survivor event • A paintball tournament shoot out
TMG employees give weekly payroll support, we host quarterly events in Calgary, and we do National Smoothie day once a year.
HOW DID TMG GET INVOLVED WITH THIS CHARITY? We’re not sure how the connection was made but the cause resonates with all of us. One in five children in Canada are at risk of starting the school day on an empty stomach due to lack of access to a nutritious breakfast.
HOW LONG HAS TMG BEEN SUPPORTING THIS CHARITY? TMG has been supporting the Breakfast Club since 2013 and has raised over $200,000 to date.
WHAT ARE YOUR FUTURE PLANS TO SUPPORT THIS CHARITY? TMG plans to continue on with the events that have been successful for us in the past. We are also considering making National Smoothie Day a monthly volunteer program.
34 May 2017
A coordinator at Catherine Nichols Gunn School said:
“The team that visited us in Calgary were amazing. Thank you so much for slogging through the snow to bring smoothies and smiles to the students!”
Tiffany Clark, a TMG Broker in Grande Prairie said: “I believe that if children have the ability to start their day with good food and nourishment, it supports their ability to learn and grow in a healthy and happy way. Donating to Breakfast Club of Canada means that children in my community that have a need are offered an opportunity to level the playing and learning field with their peers. It's fuel for their dreams to come true.”
I like Breakfast Club of Canada because when they open up a program it is all inclusive, open to all students in that school. There is no stigma attached to showing up at “breakfast time”, half an hour before classes start.
TMG Alberta raised over $10,000 in 2016 – enough to open up one new program and there are many schools on the waiting list. I would like to see us continue annual support for that program at $6,000 a year, and raise enough to open up yet another program. As mortgage brokers, we help build communities and we are well compensated for our efforts. I believe we all have a responsibility to ‘give back’ and supporting Breakfast Club of Canada is just one very fine way of doing that – giving back to the communities that support us. On top of that, it is a true joy to go out into the schools once or twice a year, work shoulderto-shoulder with our fellow brokers, and put a smile on a young face. Smoothie Day is the best.”
Max Singh, a TMG Broker in Calgary said:
“I support BCC because I want to nurture the potential and growth of our young students and give them an equal chance of success. It is my hope that no child in Canada will go to school hungry again.” Brian Gentles, a TMG Mortgage and Commercial Equipment Leasing Broker in Calgary: “Sadly, many children across Canada—regardless of demographic, sociographic or economic conditions— go to school hungry. These are our future architects, builders, computer programmers, doctors, engineers, and the list goes on. Being hungry is not conducive to learning.
We introduced this section because we know that mortgage brokers go out of their way to give back to the communities they help build. We’d love to feature your company in the next issue of AMBA Matters, just email communications@amba.ca to tell us what charity you support. We look forward to sharing your story!
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Industry News Mortgage Professionals Canada Announces New Consumer Advocacy Campaign In late April, Mortgage Professionals Canada also launched a new web-based consumer advocacy campaign and website www.tellyourmp.ca to support its ongoing efforts in informing and educating Members of Parliament (MP) about the negative impacts of the federal government's changes to mortgage insurance and eligibility. As a whole, the association has been active in lobbying the federal government to make reasonable, common-sense changes to these new rules, and are now seeking assistance from middle-class to have their say by letting the government know how they have been affected by such changes. "Our members are working with and seeing directly that many Canadians are frustrated by the impacts of
Alberta’s Private Mortgage Lender
these changes and are looking at ways to reach out to the government directly," said Paul Taylor, President and CEO, Mortgage Professionals Canada. "Our goal with this grassroots campaign is to make it incredibly easy for Canadians who have been disadvantaged by the changes to send a message to their local MP to build support for affordable homeownership." You can read the whole article here: http://www.newswire.ca/news-releases/mortgageprofessionals-canada-announces-new-consumeradvocacy-campaign-620359863.html
Standing Committee Update On Thursday, April 13, House of Commons Standing Committee on Finance released a report on Canada's housing markets, entitled "Canada's Housing Markets: Benefits, Barriers and Bringing Balance." The report includes five recommendations that address housingrelated data gaps, the country's mortgage regulations and housing affordability, both generally and in relation to first-time homebuyers. "An important part of the Committee's context when
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info@chmic.ca
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May 2017
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hearing from witnesses and reading briefs submitted to us is the reality that Canada doesn't have a single housing market, but instead several markets across the country's regions," said the Honourable Wayne Easter, P.C., M.P., Chair of the Committee. "One of our priorities was examining the extent to which the country's housing markets are balanced, which we interpreted to mean providing access to affordable housing for the greatest number of Canadians while maintaining both stability in our housing markets and in our financial system."
Finance Minister Bill Morneau, left, and Prime Minister Justin Trudeau enter the House of Commons to present the Liberal government's 2017 budget. Photo Art Babych / Shutterstock.com
You can read the final report here: http://www.ourcommons.ca/DocumentViewer/en/42-1/ FINA/report-2/page-ToC
step for our industry as the government has clearly heard our collective voices urging them to stop any further measures.
Mortgage Professionals Canada Reacts to Budget 2017
"We are pleased that the government has listened to our concerns and not introduced any additional measures that would negatively impact Canadian mortgage consumers" said Paul Taylor, President and CEO, Mortgage Professionals Canada. "We applaud the government for listening to our membership and taking steps to significantly improve the quality of housing data in Canada. This will help assess the impact that the recent changes have had on Canadian homebuyers."
On March 22, Mortgage Professionals Canada was invited to participate in the exclusive federal government budget lockup where they reviewed an embargoed copy of the budget prior to its announcement. AMBA and Mortgage Professionals Canada are pleased that the government has listened to our members and has not made any new mortgage rule changes that could negatively impact them. We also support the significant investments made in Budget 2017 to create a national Housing Statistics Framework, which will greatly improve the quality of housing data in Canada. This is a positive
You can read the whole article here: http://www.newswire.ca/news-releases/mortgageprofessionals-canada-reacts-to-budget-2017-616873524. html
2017
E MORTGAG world Title Sponsor
Valued at $6,500
Full qualification details available June 11 at the Industry Expo Challenge May 2017
37
Member Profile
Max Singh My family has always been in the restaurant industry dating back to the early 1970s in Singapore when my grandfather retired from the police force. My father opened up Moti Mahal, one of the first East Indian restaurants Calgary in 1983, before selling the restaurant to my uncle and aunt in 1992 and heading for the coast. So, you can say I have been in the customer service industry since birth. But the restaurant industry from those who know is a tough business and my family pushed me to get out and try something new.
WHERE ARE YOU FROM? Born and raised Calgarian which is rare these days, but that's what makes our city so unique! I moved in the early 1990s to Vancouver with my parents, returning to my home city in the early 2000s.
HOW DID YOU GET STARTED IN THE BUSINESS? When I was the young age of 19, my mom was sick and tired of me sitting on the couch all day playing video games. I remember her words like it was yesterday: “get off the couch and get a job.” So, I did. I threw a dart into the dark and applied online at Scotiabank, thinking I would have little to no chance and that banking was boring anyways...I would be home before 5 p.m. every night. How hard could it be! Fourteen years later, voila! Mortgage Broker. Just kidding, it wasn’t that easy. I had to claw my way up the ladder until I finally got the job I dreamed of, Mortgage Specialist. After five years in the role, with BMO and Scotiabank, respectively, I found my calling as a licensed Mortgage Broker. And I am happy to say, after all the searching, this will be my last job.
PLEASE TELL US A LITTLE BIT ABOUT YOUR COMPANY. Canadian owned and operated since 1990, TMG The Mortgage Group has helped a quarter million Canadians get the right mortgage solution to suit their financial needs, earning a respected reputation with lenders and clients as leadingedge mortgage experts that deliver on the company's Vision+Values.
THREE INTERESTING FACTS ABOUT YOUR COMPANY. TMG is an award-winning leader in mortgage innovation and technology and has developed proprietary tools and software to quickly and efficiently source and manage financing solutions. From Global TV appearances and upto the-minute industry news to informative introductory videos, TMG is widely considered a mortgage education resource.
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May 2017
IN SUCH A COMPETITIVE MARKET, HOW DO YOU STAY AHEAD OF YOUR COMPETITORS AND REMAIN SUCCESSFUL? Differentiate. It's essential to give your customers good reasons to come to you rather than a rival. Step up your marketing. Make more effort to tell people who you are, what you sell and why they should buy from you. Expand your offer. What related products or services might your customers be interested in? You could even consider diversifying into another area. Look to the future. Businesses that plan for growth are more successful than those that are happy to stay still. Keep up with developments in your sector, follow consumer trends, invest in new technology and—crucially— have a clear idea of where you want to be in one, three and five years' time.
WHAT ASPECTS OF THE MORTGAGE INDUSTRY DO YOU FIND MOST CHALLENGING?
WHAT IS YOUR EXPERIENCE WITH THE ALBERTA MORTGAGE BROKERS ASSOCIATION (AMBA)? Simply fantastic! AMBA is the collective voice of the mortgage brokerage industry in Alberta. They are vital for industry members and provide strategic leadership and direction for the mortgage brokerage industry. They help raise awareness of the importance of our industry, our significant economic impact in ridings across the country, and our serious concerns regarding the most recent mortgage rule changes.
HOW LONG HAVE YOU BEEN AN AMBA MEMBER? Three years now and looking forward to more.
WHAT’S YOUR FAVOURITE AMBA EVENT?
It has been a tumultuous few months since federal Finance Minister Bill Morneau outlined new rule changes to the mortgage insurance eligibility on Oct. 3, 2016. The recent changes have impacted Canadians from all sectors and backgrounds across the country. We are lucky to have AMBA and Mortgage Professionals Canada in our corner, fighting on our behalf.
There are so many to choose from. But I have to say the AMBA Winter games and Annual Conference take the cake. I am truly wowed by the dedication and time spent at every event by the AMBA staff.
WHAT IS YOUR VISION FOR THE MORTGAGE INDUSTRY?
AMBA of course! Mortgage Professionals Canada, Calgary Chamber of Commerce, Young Professionals Association and Local Networking Groups.
My vision of the mortgage industry is that the industry will continue to grow both in size and importance. Since the new rule changes to mortgage insurance eligibility were introduced, mortgages have become more newsworthy, and Canadians are looking to expert professionals to accomplish their short or long term financing goals more than ever.
WHAT DO YOU LOVE ABOUT MORTGAGES?
WHAT OTHER PROFESSIONAL ASSOCIATIONS DO YOU BELONG TO?
PLEASE SHARE THREE FUN FACTS ABOUT YOURSELF. Those who know me know I like to party…Ya, it’s kinda my thing. You will find me at whatever new nightclub or restaurant will let me in. I love to travel. I’m in South East Asia every year or so visiting family or you can find me on a beach somewhere in South America.
I love that the mortgage industry allows Canadians the ability of home ownership and much more. I believe Rick Renzi said it best when he said, “Home ownership is the cornerstone of a strong community.” I can help my clients refinance their homes to buy a business or send their children to post-secondary, or travel during their retirement. What other industry can give back so much to the clients we serve?
May 2017
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FACEBOOK.COM/ALBERTAMTGBROKERSASSOC
2017 AMBA Calendar of Events
Follow AMBA on Facebook, Twitter and Instagram for the latest on events, webinars and industry updates and highlights TWITTER @AMBA1975
June 11 - 13, 2017
Annual Conference
INSTAGRAM @AMBAINSTA
2017
GE MORTGAd wo rl
In partnership with Mortgage Professionals Canada
West Edmonton Mall, Edmonton, Alberta
July 7, 2017
September 19, 2017
AMBA Golf Tournament Innisfail Golf Club - Innisfail, Alberta
October 25, 2017
Title Sponsor
AMBA Professional Development Day
AMBA & AREA Stampede Government Reception
In partnership with Mortgage Professionals Canada, AREA and PMLF
(Invite Only)
Marriot Downtown, Calgary, Alberta
The Clarion Hotel & Conference Centre Calgary, AB
September 7, 2017
December 6, 2017
Industry Night AMBA Atrium - Calgary, Alberta
AGM and Holiday Party AMBA Atrium - Calgary, Alberta
Equity Lending!
Over 1 Billion Dollars Funded Since 1997 BRITISH COLUMBIA
•
ALBERTA
UP TO
80%
LTV Residential Private Money Lending
•
ONTARIO
1st Mortgage
2nd Mortgage
rates start at
rates start at
5.5%
10.5%
R ATES & F EES A R E SU BJ E CT TO CH A N G E WI T H OU T N OT I CE .
Donna Hunter
Business Development Manager Office: 403 | 278.6200 Cell: 403 | 874.6348 Toll Free: 800 | 959.9290 dhunter@capitaldirect.ca
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No Lending Area Restrictions Me m b e r C A A M P, A M BA , M BA BC , BBB, Off ic e s in Va n c o u ve r, C a lg a r y, Ed m o n to n & To ronto
s t h ig l h ig H ia d e M l ia c o S T witter @AMBA1975
Face bo ok ALBERTAMTGBROKERSASSOC
Inst agram @AMBAINSTA
Do you follow us on Instagram? Why not! See what we’re up to @ambainsta.
Stay up to date! Follow AMBA on Facebook, Twitter and Instagram for the latest on events, webinars and industry updates and highlights May 2017
41
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