Brokers highlight the lenders delivering standout service, speed, and support in 2025
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UPFRONT
02 Editorial
No one-size-fits-all in today’s mortgage market
04 Statistics
The pressure of rising prices and rates uncertainty
FEATURES
06 A new standard for broker networks
With new leadership and a renewed vision, CENTUM positions itself for the next chapter
37 Fixed or variable?
What’s driving borrowers’ interest rate decisions in a volatile market
PEOPLE
38 Broker focus
Pivot to commercial lending pays off for award-winning broker Joanna Zhou
40 Other life
F1 racing fuels JP Boutros’s passion beyond the mortgage track
Tailored approach the name of the game
It’s easy to buy into the doom and gloom that often surrounds the news cycle, but for mortgage brokers there are plenty of signs that things are looking up, even amid ongoing economic uncertainty and tariff turmoil.
Take Canadian home sales, for instance. Housing market activity increased in July for the fourth month in a row, with homebuyers stepping off the sidelines in increasing numbers, undeterred by those economic storm clouds.
What’s more, 79% of Canadians who intended to buy a home haven’t changed their purchasing plans because of the tariff tensions, according to a Wahi survey released in August.
And that uptick in homebuying has arrived, despite stagnant variable mortgage rates, with the Bank of Canada opting against cuts in four consecutive decisions as it assesses the impact of the trade war on the economy and inflationary outlook.
Still, the central bank is expected to lower rates at least once before the end
It’s often said that there’s no one-sizefits-all approach for customers in the mortgage business, and that’s never been clearer than it is today
of the year, and that could mean even more good news for homebuyers as the affordability picture brightens.
But that may not be the case for everyone. Plenty of buyers are still frozen out of the market because affordability is out of reach – with home prices dipping but still eye-wateringly high for many first-time buyers.
It’s often said that there’s no one-size-fits-all approach for customers in the mortgage business, and that’s never been clearer than it is today.
For borrowers who can’t afford to buy a home, brokers can still play an invaluable role in helping set up a financial plan to make homeownership a realistic aspiration in the months and years ahead.
And for those who are in a position to buy? Some might try to time the market in anticipation of more rate cuts and potentially lower prices in 2026. But it’s also up to brokers to let them know that’s not a surefire thing.
With the market already seeing an uptick, it mightn’t be long before competition and bidding wars heat up again – meaning now could be the perfect time for those buyers who are sitting on the fence to make a move. TheteamatCanadianMortgageProfessional
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TORONTO’S
CONDO
CRISIS
GATHERS PACE IN Q2 2025
PRESSURE TO PURCHASE A HOME VARIES ACROSS CANADA
4,413 (-20.9% y/y)
Condo sales in Toronto
Homeownership remains a big aspiration in Canada despite affordability challenges, but some feel under more pressure to buy than others, depending on their location. A Wahi and Angus Reid survey in July showed that Quebecers feel the least amount of pressure to buy, while Albertans feel the most, closely followed by British Columbians.
9,530 (+39.3% y/y)
Active listings
17,326 (-0.6% y/y) New listings
BOC ON HOLD THROUGH SUMMER
The Bank of Canada lowered rates in its opening two decisions of 2025, but it left cuts on ice throughout the summer, waiting to see how the ongoing US-Canada trade war impacts inflation and the wider economic outlook. That meant little mortgage relief for homeowners and buyers, although hopes are still high that rates will move lower before the end of the year.
BOC RATE DECISIONS, JAN–JUL 2025
$685,961 (-5.9% y/y)
Average condo price
Source:
PERCENTAGE OF PEOPLE WHO FEEL PRESSURE TO BUY A PROPERTY IN CANADA
JUNE
Prices fell in several major Canadian housing markets between May and June, but average monthly mortgage payments jumped marginally across most cities to offset that trend and keep the squeeze on homeowners and hopeful buyers. Only Toronto saw affordability improve.
RISE OF ALTERNATIVE LENDING CONTINUES
Alternative lending continues to play an important role in Canada’s housing and mortgage market, according to new data released by the national housing agency, as a growing number of borrowers turn toward the sector.
NO SIGN OF A HOME CONSTRUCTION SURGE
The pace of homebuilding ticked up slightly in Canada in June but remains well below the level needed to solve the housing inventory crisis, according to new CMHC data.
MORTGAGE BROKERS
CENTUM’s renewed vision – a new standard for broker networks
CENTUM positions itself for the next chapter with Adrian Schulz stepping into the role of president
FOR MORE than two decades, CENTUM has been part of the fabric of the Canadian mortgage industry. Known for its national reach, high-value membership models, and long-standing slogan, “Looking out for your best interest,” the network has quietly built a reputation among its members for supportive culture and strong lender relationships.
This year, that reputation is being paired with a sharper focus. CENTUM is setting out a renewed vision. This vision is one grounded in trust, professionalism, and a deliberate plan for the years ahead.
Why now?
The mortgage industry is facing a period of tangible shifts that are altering how brokers operate. Rising renewal volumes are one factor: the Bank of Canada held its policy rate at 2.75% in late July, but roughly 60% of outstanding mortgages are set to renew in 2025 and 2026, keeping payment pressures high for many households.
At the same time, new regulatory measures from OSFI have tightened underwriting guardrails,1 including limits on high loan-toincome lending and updated guidance on qualifying rates.
These structural pressures are playing out alongside notable changes in consumer behaviour. CMHC data shows that broker
usage reached 48% in 2024, up from 43% the year before,2 as more borrowers seek tailored advice in a complex rate environment.
For networks able to combine flexibility with professionalism and scale, these trends
“Our job is to create an environment where mortgage professionals can thrive, where clients are protected, where compliance is effortless and growth is built to last,” says Schulz. “The work we’ve done behind
“It’s one thing to have platforms. It’s another to have a unified vision that ties them together, and that’s what we have now”
Adrian Schulz, Centum Financial Group
create space to deepen their role with both clients and talent.
It’s in this environment that CENTUM has been positioning itself for its next chapter. Adrian Schulz, appointed president earlier this year, is stepping into the role after several years helping to shape the network’s direction. Since he joined the company in 2021, Schulz has overseen investments in member support and strengthened lender relationships as well as the adoption of technology designed to give brokers more ways to build sustainable, diversified businesses. Those changes, he says, have been laying the groundwork for CENTUM to meet today’s challenges head-on.
the scenes has prepared us for this moment – to invite the industry to take a fresh look at CENTUM.”
A vision that leads the way
CENTUM’s updated vision statement captures this renewed direction:
“To build Canada’s most trusted mortgage network by empowering professionals to deliver advice, protection, and service that truly looks out for their clients’ best interest”
Rather than serving as a slogan, the statement functions as a guiding principle for
decision-making, resource allocation, and member support. The aim is to raise the level of professionalism in the broker channel while keeping the client’s needs at the forefront.
Part of the Charlwood Pacific Group –which also includes Century 21 Canada –CENTUM benefits from the reach of one of the country’s largest real estate and mortgage networks. This connection supports new initiatives such as integrating Mortgage Monitor with Century 21’s HomeHub referral platform, creating more avenues for brokers to engage with clients.
The three strategic pillars
CENTUM’s approach centres on three interconnected priorities: strengthening the broker network, improving the client experience, and supporting sustainable revenue diversity for members. These principles are embedded in the network’s operations and brand identity.
As a tech-agnostic national network, CENTUM ensures its tools work with all major origination platforms. This flexibility
enables members to transition from other brands without disrupting workflows, offering growth potential while maintaining efficiency.
1 Empowered professionals
Success in today’s market demands more than a licence – it requires a network that fuels growth. CENTUM equips brokers with training, coaching, and collaborative opportunities so they can focus on building strong, revenue-diverse businesses. Initiatives like CENTUM University – now available at no cost to all agents – and the HomeHub referral platform give members the tools and connections to compete and win.
2 Frictionless compliance
Compliance is integrated into operations without being tied to one technology provider. CENTUM’s tools, such as DirectPay and the FINTRAC Dashboard, work across platforms, helping members meet regulatory requirements, while freeing up their time to focus on clients.
3 Client protection and experience
Sustained growth depends on lasting client relationships. Mortgage Monitor, now available to all agents and soon linked with HomeHub, keeps clients informed about market changes and opportunities, reinforcing the broker’s role as a trusted resource.
Proof of progress
Lenders have taken note of CENTUM’s focus on quality and integrity, crediting leaders like Caroline Rapson for strengthening lender partnerships and Lori Smith for spearheading a national recruitment campaign to help member offices grow.
For Schulz, the difference lies in connecting tools and strategy. “It’s one thing to have platforms,” he says. “It’s another to have a unified vision that ties them together, and that’s what we have now.”
Across the network, recent rollouts are beginning to show results. The no-cost CENTUM University platform is giving agents a structured path for ongoing skill development, while Mortgage Monitor is helping them maintain meaningful client contact long after a deal closes.
Members speak highly of the leadership team’s professionalism and the network’s supportive, collaborative culture. For Schulz, the proof is in the way brokers and agents are building compliant, client-focused businesses with multiple revenue streams.
In the months ahead, CENTUM will continue rolling out initiatives that support its pillars, strengthen lender partnerships, and attract high-calibre professionals to the network.
“CENTUM has always been about looking out for our members and their clients,” Schulz says. “Now, with a clear vision and the right leadership, we’re ready to make that commitment more visible than ever – at every step.”
Andrew Moor left an indelible mark on the mortgage industry during a transformative career. The industry paid tribute to the legendary CEO after his sudden passing this year
CANADA’S MORTGAGE industry lost an icon this year with the tragic passing of Andrew Moor, the visionary CEO of Equitable Bank who made an enormous impact on the national mortgage space during a lengthy career.
Few could have predicted the seismic shift Moor would have on Canada’s mortgage and banking landscape when he took the helm at Equitable in 2007. But over the next 18 years, his visionary leadership, relentless drive for innovation, and steadfast commitment to prudent banking principles would not only transform Equitable – now EQB Inc. – but also reshape the broader industry, leaving a legacy that will be felt for generations.
Moor’s career was marked by a series of leadership roles that showcased his ability to drive change and inspire excellence. Before joining Equitable, he served as president and CEO of Invis, one of Canada’s largest mortgage brokerage firms, from 2002 to 2007.
Prior to that, he served as president of SMED International and managing director at CIBC World Markets, where he honed his skills in strategic management and financial services.
But it was at Equitable that Moor truly left his mark. He inherited a regional
trust company with 107 employees and $4.4 billion in assets under administration, and under his stewardship, the company evolved into Canada’s seventh-largest bank, boasting $134 billion in combined assets and nearly 2,000 employees nationwide.
His leadership propelled the bank to the forefront of the industry, making it a leading lender in the single-family mort -
Championing
change and digital transformation
Moor’s legacy is perhaps most visible in the initiatives he led in his relentless pursuit of innovation. Recognizing the shifting needs of Canadian consumers, he spearheaded the launch of EQ Bank in 2016 – an all-digital banking platform that today serves over 742,000 customers, a testament to Moor’s
“Andrew led with intelligence, integrity, and generosity. Since 2007, he helped shape Canadian banking into a more open and innovative space, always championing mortgage brokers as essential partners in delivering solutions for Canadians”
Dan Eisner, True North Mortgage
gage market, reverse mortgages, insurance lending, commercial lending, and equipment financing. Today, EQB is also Canada’s largest securitizer of CMHC-insured multiunit residential mortgages, playing a crucial role in supporting affordable rental housing across the country.
vision of a more accessible, customer-centric banking experience.
Industry peers and fintech innovators alike recognized Moor as a trailblazer. Michael Katchen, co-founder of Wealthsimple, described him as “a visionary in the fight to build a better financial system
PROFILE
Time in mortgage and financial services industry: 38 years
Best known for: Eighteen years at the helm of Equitable Bank, a transformative spell that helped establish the company as one of Canada’s leading financial institutions
Name: Andrew Moor
INDUSTRY ICON
for everyday Canadians. Never afraid to stand up and challenge the status quo.
One of the original champions of Canadian fintech, he built an amazing company and paved the way for so many of us. He was a force of nature, full of strong, unshakable convictions and just so fun to be around.”
A fierce advocate for mortgage brokers
Moor’s influence extended well beyond digital innovation. He was a steadfast supporter of mortgage brokers, recognizing their essential role in delivering solutions to
EQB’s board, captured this duality: “Andrew was a visionary leader and a fierce advocate for change and innovation in banking that benefits all Canadians. As a result of his inspired stewardship of our company, he instilled a culture at EQB that is both forward looking and faithful to the sound principles of prudent banking that engender public trust. He will be missed.”
Moor’s approach created a high-performance culture at EQB, one that prioritized talent development, shareholder value, and a commitment to community and charitable causes. Under his guidance, EQB delivered
“One of the original champions of Canadian fintech, he built an amazing company and paved the way for so many of us. He was a force of nature, full of strong, unshakable convictions and just so fun to be around”
Michael Katchen, Wealthsimple
Canadians. Dan Eisner, CEO of True North Mortgage, noted, “Andrew led with intelligence, integrity, and generosity. Since 2007, he helped shape Canadian banking into a more open and innovative space, always championing mortgage brokers as essential partners in delivering solutions for Canadians. His impact on our industry and the people within it is profound.”
This commitment to partnership and openness helped foster a more competitive, dynamic mortgage market in Canada, benefiting both industry professionals and consumers.
Building a culture of excellence
Moor’s leadership style was characterized by a blend of forward-thinking innovation and adherence to the sound principles of prudent banking. Vincenza Sera, chair of
one of the best total shareholder returns among North American banks over the past 18 years, a testament to his differentiated approach to capital allocation and business strategy.
A legacy that endures
At the time of his passing, Moor was Canada’s longest-serving bank CEO. His sudden death was met with an outpouring of grief and respect from across the industry. “Andrew’s death is a tragic loss to all of us at EQB and to everyone who had the pleasure of knowing him,” said Sera. “He will be missed.”
Gary Fooks, co-founder of 8Twelve Financial Technology, echoed the sentiment: “A huge loss to the EQB family and the entire industry as a whole.”
ANDREW MOOR: CAREER SNAPSHOT
2007–2025
President and CEO, Equitable Bank and EQ Bank
2002–2007
President and CEO, Invis
1996–2001
President, SMED International
1987–1996
Managing director, CIBC World Markets
Education
MBA, Business, University of British Columbia BSc (Eng), Mechanical Engineering, University College London
Even as EQB moves forward under new president and CEO Chadwick Westlake, Moor’s legacy remains firmly embedded in the organization’s DNA. “Thanks to Andrew’s inspired leadership, EQB has the talented people, the high-performance culture, and the proven shareholder value creation strategies to excel in his absence,” Sera said.
Moor’s career was defined by a rare combination of vision, integrity, and a genuine commitment to improving the lives of Canadians. Through his leadership at EQB, he not only built a stronger, more innovative bank but also set a new standard for the entire mortgage industry. His legacy will continue to inspire future generations of leaders, innovators, and mortgage professionals across Canada.
WOMEN OF INFLUENCE Top 50
Canada’s best female mortgage brokers and professionals are building lasting change through bold
TOP 50 WOMEN OF INFLUENCE 2025
RISING ABOVE
WITH FEMALE advancement in corporate Canada slowing, the rate of progress in the mortgage sector shows signs of bucking that trend – a testament to the dedication and innovation of a special group of professionals. They are recognized as CMP’s Women of Influence 2025, one of the mortgage industry’s most respected and prestigious awards for female professionals. CMP annually lists the Top 50 performers shaping and influencing the sector nationwide. It highlights the special women advancing the profession. Each year, CMP solicits nominations, and a panel of industry leaders and past winners helps select the final list. The Top 50 Women of Influence 2025 continue to break new ground in an industry where leadership roles have long been male dominated. From mentorship to innovation, these pioneers are shaping the future.
Judge and Canadian Private Lenders Association co-founder and CEO, Samantha Gale, highlights what defines this cohort. “I
was particularly impressed by the remarkable diversity and depth of expertise among the Top 50,” she says. “Their ability to consistently deliver outstanding results in a range of market conditions stood out, as did their evident commitment to client service and professional development.”
Fellow panellist Leah Zlatkin, COO of Mortgage Outlet, shares what caught her eye: “What I find most fascinating about the women who were selected is that they’re not only great mortgage brokers, but they’re also contributing to the overall mortgage brokering environment, which is not necessarily something that you see across the board.”
CMP’s awardees reflect the breadth of female leadership across Canada’s mortgage sector. More than half hold senior management or executive roles, and a third are principal brokers, broker-owners, or front-line mortgage professionals, highlighting the growing impact of women in the industry.
What does meaningful progress for women in mortgage look like?
“Empowering women to truly balance their careers and personal lives without feeling like they have to choose. I strive to model this by being a high-producing mortgage broker while still dedicating a significant amount of time to my family, coaching sports, and volunteering. With the right support systems, I believe we can have it all”
Renée Huse, Spire Mortgage Team
TOP 50 WOMEN OF INFLUENCE BY JOB TITLE
Ontario accounts for 58 percent of the Top 50, reflecting its central role in the country’s mortgage leadership. As of March 31, 2025, the Financial Services Regulatory Authority of Ontario regulated or registered over 16,000 mortgage professionals and 1,178 brokerages. British Columbia and Alberta, combined, account for another 30 percent of awardees, reflecting key markets where women are driving the industry forward.
Key trends and patterns
1. Ontario’s consistent dominance
• Ontario is the clear leader every year, peaking at 62 percent in 2024 and holding above 50 percent in all three years.
• This dominance reflects Ontario’s status as Canada’s most populous province and economic centre, likely offering more opportunities and visibility for influential women.
2. British Columbia as the secondary hub
• British Columbia consis tently ranks second, peaking at 24 percent in 2024 before dropping to 16 percent in 2025.
• T his suggests a strong, though fluctuating, base of influential women in British Columbia.
3. Alberta’s volatility
• A lberta’s representation drops sharply from 14 percent in 2023 to 6 percent in 2024, then rebounds to 14 percent in 2025.
• This volatility could be due to cyclical factors.
4. Quebec’s low but stable representation
• Quebec remains s teady at 4 percent each year, indicating persistent underrepresentation relative to its population and economic size.
METHODOLOGY
To compile the 2025 Top 50 Women of Influence list, CMP encouraged mortgage professionals to nominate outstanding female leaders from across the industry. Nominators were asked to provide details of their nominee’s achievements and initiatives over the past 12 months, including specific examples of their professional accomplishments and contributions to the industry as a whole.
The final list was selected by a judging panel made up of industry leaders and previous Women of Influence, including:
• Carla Giles, Canadian Mortgage Brokers Association
• Daniela DeTommaso, FCT
• Heather Bowie, Alberta Mortgage Brokers Association
• Leah Zlatkin, Canadian Mortgage Brokers Association – Ontario
• Samantha Gale, Canadian Association of Private Lenders
To avoid any potential conflicts of interest, the CMP team voided self-voting and votes for a judge’s own organization.
TOP 50 WOMEN OF INFLUENCE BY LOCATION
5. Marginalization of smaller provinces
• N ewfoundland and Labrador, Nova Scotia, Manitoba, and Saskatchewan each have minimal or inconsistent representation.
o Newfoundland and Labrador and Nova Scotia fluctuate between 0 and 4 percent.
o Manitoba is present only in 2023 (2 percent).
TOP 50 WOMEN OF INFLUENCE 2025
INTERNATIONAL CONTEXT
o Saskatchewan appears only in 2025 (2 percent).
• T his points to ongoing challenges for women in these provinces to gain national recognition.
Conclusions
• Ontario’s dominance is persistent and likely reflects structural advantages in population, economy, and organizational headquarters.
• British Columbia and Alberta provide the next largest pools of influential women, but their shares are more variable.
• Quebec’s low share is notable and may warrant further exploration into barriers or selection biases.
• Smaller provinces are largely absent or inconsistently represented, highlighting a need for broader recognition and support for women leaders outside major urban centres.
Leading change where parity lags
The Women of Influence 2025 have made
their mark at a time when progress on gender equity has slowed across Canada’s corporate world. The country’s share of women managers is also behind nearly half of all OECD countries, according to the March 2024 Barely Breaking Ground report by the Canadian Chamber of Commerce and the Business Data Lab.
A 2025 Morningstar DBRS report, focused on financial institutions, real estate, and diversified industries, found that women held just 6 percent of C-suite jobs nationwide in 2023, down from 7 percent in 2020 and unchanged over the past decade. At financial institutions, women made up 13 percent of CEOs and 33 percent of CFOs. Board gains, where women now hold 41 percent of seats, haven’t carried through to the top ranks.
A LinkedIn report also found that progress toward gender parity in leadership has stalled in recent years. Only 30.6 percent of leadership positions are held by women, representing a marginal 0.2 percent increase since 2022. What’s more, it noted that the leadership gap widens with age. Women in older generations face greater disparities in
accessing top roles, as the drop in representation from the workforce to top roles is 46 percent for baby boomers but only 34 percent for Gen Z.
These national trends contrast with the advances made by this year’s Influential Top 50. In financial and business services, including mortgages, women now hold more than half of specialized middle management roles, according to the Canadian Chamber report. Yet pay gaps remain, with women earning 85 cents for every dollar earned by men. Senior leadership remains male-dominated, with women holding just 30 percent of senior management positions nationwide.
In this environment, the female leaders featured on CMP’s list are helping to move the needle forward and create greater opportunities for others.
Gale says progress will involve initiatives that equip women with the skills, resources, and confidence to aspire to senior roles. “Building a strong network of allies and mentors is essential,” she adds. “Structured mentorship programs and opportunities for women to leverage industry connections can be powerful catalysts for career advancement.”
She also emphasizes that supporting mental well-being, normalizing flexible working arrangements, and creating forums for women to share knowledge and successes are critical to sustaining momentum.
This year’s awardees reflect a diverse depth of experience. Twenty-two percent have been in the mortgage industry for under a decade, while 38 percent bring more than 25 years of experience to their roles.
How Women of Influence advance diversity, equity, and
inclusion
Industry leader Gale notes that the 2025 cohort of outstanding female mortgage brokers and professionals exemplifies the
Source: Barely Breaking Ground: The Slow Stride of Progress for Women in Business Leadership and Entrepreneurship – Business Data Lab
qualities needed to advance lasting change. “I looked for a strong blend of technical acumen, strategic thinking, and adaptability,” she says. “Given the rapid pace of change in today’s mortgage landscape, candidates demonstrating innovative problem-solving, proactive risk management, and a commitment to continuous learning ranked highly. Additionally, leadership in fostering inclusive work environments and supporting peers was a key differentiator.”
Respected authority Zlatkin underscores that mentorship is central to success in mortgage broking. “Mentorship has always been an important factor in mortgage brokering,” she says. “The best way to learn the trade is to watch somebody else do it and to shadow them. I wouldn’t be where I am today if it were not for my mentors. And I feel the same deep desire to make sure that other people can also succeed by mentoring others.”
CMP’s Top Women of Influence 2025 are making a difference by:
• mentoring and coaching: helping women in their teams grow, build confidence, and take on leadership roles
• networking to promote inclusion: leading women’s groups, summits, and diversity committees; assembling conferences, panels, and workshops that support women and underrepresented groups
• hiring and promoting with diversity in mind: taking steps to hire, promote, and give visibility to women and people from underrepresented groups; helping to build leadership teams and boards that better reflect the communities they serve
• supporting financial empowerment and education: delivering free seminars, creating podcasts, or hosting community events focused on financial literacy, wealth building, and homeownership, specifically for women and underserved groups
• advocating for cultural inclusion: amplifying the voices of women of colour, immigrant women, and other underrepresented groups, ensuring that diversity extends beyond gender to encompass ethnicity, background, and lived experiences
• supporting work-life balance: championing flexible working conditions, accommodations for working parents, and cultural shifts that prioritize balance without compromising career progression
• boosting male allyship and inclusive cultures: engaging men as allies to advance gender equality and build cultures where equity is a shared responsibility
Powering innovation and growth
Innovation and growth take many forms, but at the seat of progress is leadership that challenges the status quo.
For Gale, the most impactful actions have paired visible leadership with sustained, grassroots programs. “Standout initiatives such as CMP’s Top 50 Women of Influence annual recognition, the Women of Influence awards, dedicated Women in Mortgage panels at industry events, and cross-firm networking forums have provided valuable exposure and practical support, empowering more women to advance within the Canadian mortgage brokering industry,” she says.
Building
a $100
million powerhouse through innovation and client focus
Renée Huse Spire Mortgage Team
Renée Huse, owner of the Spire Mortgage Team, is known for her results-driven
What does meaningful progress for women in mortgage look like?
“It’s more than just hitting numbers. It’s about representation at every level: women in boardrooms, C-suites, sales and distribution, underwriting, treasury, and finance. It’s about a culture of belonging where women can show up authentically and thrive”
Alana Riley, IG Wealth Management
leadership and unwavering commitment to uplifting those around her. As a driving force behind Calgary’s Spire Mortgage Team – a division of Mortgage Architects – she transformed the company from a startup into a top-performing brokerage. Under her guidance, the firm achieved $100 million in annual funded volume within just five years and continues to set its sights on reaching the $200 million milestone.
Along the way, she earned the trust of clients, who have left over 300 five-star reviews praising her responsiveness and
TOP 50 WOMEN OF INFLUENCE 2025
TOP 50 WOMEN OF INFLUENCE BY YEARS IN THE INDUSTRY
knack for finding great rates. In addition, she has built a balanced and collaborative team with an approximately 50/50 maleto-female split and key female support in underwriting and fulfillment.
Her leadership philosophy focuses on leaning into each person’s strengths and enabling everyone to have a voice and collaborate to make both Spire and the industry a better place to work.
“One thing we do well is focus on the highest and best use of people’s skills and time,” she says. “When you take the time to understand who people are, what makes them tick, what makes them happy, and what their priorities are, you can start building a team that feels included, empowered in who they are and how they want to show up at work.”
Huse’s influence transcends business performance, reflecting her role as an educator, innovator, and advocate:
• delivered impactful presentations at major industry events, including the National Mortgage Conference in Montreal (2024) and the BTBB 2025 Virtual Summit, and was the keynote speaker at the Indi Mortgage Conference
in Cancun, with her signature presentation, “From $0 to $100M in Five Years”
• hosted several value-packed events free of charge to her referral partners, including a four-hour real estate and AI seminar
• launched Inspired Agent Series podcast , a platform that highlights real estate agents and investors with diverse stories, experiences, and strategies
• coached 32 agents from coast to coast for five weeks on how to get help, get faster, and take back control of their busy lives
The constant small changes in the mortgage industry keep Huse motivated, whether it’s helping a client or hearing about a lender changing its policy on maternity leave income to better support women. “If you focus on that and find those micro wins, it’s easy to get fired up about doing it again the next day,” she says.
Huse believes the industry is heading in the right direction to be more inclusive, a goal that can be achieved by celebrating holistic success, encompassing well-being and happiness. Over the past year, she has
seen how many brokers are simply waiting for someone to give them permission and empowerment to focus on both.
“The opportunity lies in continuing to highlight and celebrate those who are succeeding in all areas of life,” she adds. “Often, it’s women who are leading the way in that regard, and their achievements should be recognized and celebrated.”
Her advice to aspiring female leaders is, “Don’t buy into the idea that you can’t have it all. With the right support, whether it’s a great team, smart systems, or the power of AI, you can build a fulfilling career and a rich personal life at the same time.”
Redefining mortgage delivery through digital transformation
Alana Riley IG Wealth Management
At IG Wealth Management, Alana Riley has reshaped the distribution model to seamlessly integrate mortgages and debt solutions within the financial plans for the over one million Canadians that the firm serves.
As head of mortgage, insurance, and banking, she led the negotiations that secured a partnership with nesto, making her company its first B2B client and introducing a new, tech-driven approach to the mortgage process.
Riley also launched IG’s first digital platform to connect directly with clients, simplify mortgage applications, and increase efficiency while reducing uncertainty in the process. She led the creation of a streamlined, end-to-end mortgage experience and introduced seminars to help families handle the challenges of multi-generational home buying.
An initiative that highlights her contribution to supporting women’s advancement is her Women of Wealth strategy, which offers
tailored financial services and seminars that help women take control of their financial futures through education, practical advice, and customized solutions. “My role as a mortgage executive is to lead by example, provide support and resources, transparent paths for future opportunities, mentorship, and sponsorship,” she says.
Her influence also reflects her commitment to inclusive leadership, industry education, and community service:
• promoted over 65 percent women to leadership (AVP+) in mortgage, insurance, and banking
• president and CEO of IG Trust Company , leading trustee services, compliance, and strategy
• served as senior volunteer leader: Gordie Howe CARES, Children First Canada, and Dalhousie Alumni Association
Riley remarks that the greatest opportunity for the mortgage industry to become more inclusive is coming from shifting demographics, where women are transforming the financial advice landscape. “By 2028, Canadian women are expected to control $4 trillion in assets,” she explains. “Higher education levels, increased workforce participation, entrepreneurship, and longer life expectancy have driven the surge. This has allowed not only more women to succeed in finance but also the industry to better serve women as a growing client segment.”
Her advice for the next generation of female leaders looking to make an impact is to lead with purpose. “It’s about helping people achieve their dreams and build homes and security while enhancing financial literacy and working towards their financial goals. Stay rooted in this mission,” she says.
“The industry also needs your authenticity. Own your voice, find your allies, and build your circle. The next generation will
have the greatest opportunity the industry has ever experienced.”
Driving equity and opportunity
Panellist Gale says the most significant progress on gender equity in the Canadian mortgage brokering industry has been in increasing visibility, leadership, and open dialogue.
She points out that more women are now recognized as top producers, thought leaders, and executives in national rankings, as well as leaders of branch offices and major networks. “However, structural change is happening more slowly,” she adds. “Transforming diversity commitments into lasting, measurable outcomes remains a challenge, and not all organizations prioritize work-life balance, flexible parental leave, or diverse leadership styles at senior levels. Overcoming these barriers will require a sustained, industry-wide commitment.”
Championing equity and leadership development across mortgage servicing
Tara Somerset Nesto Group
Tara Somerset has helped reshape mortgage servicing in Canada. From her base in Alberta, she leads teams that manage more than $27 billion in assets and approximately 100,000 loans.
As senior vice president of servicing and B2B partnerships at Intellifi, a Nesto Group subsidiary, she oversees 225 professionals working across one of the country’s largest mortgage servicing and BPO operations.
Over the past year, Somerset brought servicing teams together following nesto’s acquisition of CMLS and Intellifi. She grew BPO and SaaS partnerships, secured new lenders and government mandates, and upheld DBRS’s top servicing standards. “I
What does meaningful progress for women in mortgage look like?
“Moving beyond representation and into real influence, where women are not just at the table but shaping the conversation. It means closing the gap between potential and opportunity by addressing the systemic assumptions that often frame leadership as male by default”
Tara Somerset, Nesto Group
focus on creating structures and visibility, not just training. Programs like Female Leaders of Tomorrow and Roadmap to Success help women access opportunities that were once less transparent,” she says.
Somerset combines operational leadership with a focus on building an inclusive, high-performing sector:
• developed the Roadmap to Success program
TOP 50 WOMEN OF INFLUENCE 2025
What does meaningful progress for women in mortgage look like?
“It’s not enough to have women at the table; we need to be setting the
through
our
agenda
our actions,
results,
and our
presence.
I don’t consider myself an activist; I lead by example”
Natasha Bridgmohan, The BridgGroup of Companies
• led the Performance Objective Workbook (POW) to align team goals and accountability
• improved Canada Greener Homes Loan underwriting and servicing for better borrower experience
At Nesto Group, she transformed the BPO division into a leadership training ground, creating programs to build skills and advance careers. She strengthened governance, improved workflows with digital tools, and enhanced client service. She also promotes inclusion by involving male allies and senior leaders, believing leadership means redefining norms to match existing talent. “The biggest opportunity is to rethink how we define leadership potential. Too often, we value confidence over competence and visibility over contribution,” she says.
“That bias means men are seen as ready, while women must prove themselves. Inclusion is removing that double standard –giving women equal access to opportunities without extra hurdles. It’s also shifting from mentorship to sponsorship, focusing on advocacy and shared accountability.”
Somerset is hopeful the industry can get there by challenging old habits and embedding inclusion into how companies promote, evaluate, and lead. “The playing field isn’t always level, but your voice can still carry,” she says. “Most importantly, bring other women with you, not because they need your help to succeed but because we all thrive when leadership reflects the diversity of the world we live in.”
Creating platforms for inclusion and economic empowerment
of building community. For her, leadership means using each win to create opportunities for others. True legacy, she says, comes from lifting others as you rise.
“My visibility through global media, financial education, and philanthropic initiatives helps to challenge outdated narratives and raise the bar for what’s possible for women in this industry,” she adds.
Her influence reflects a mix of entrepreneurial drive, community focus, and a deep commitment to inclusion. Through her YouTube show, Financial Room with Natasha Bridgmohan, she shares straightforward strategies on wealth building and financial literacy to make expert advice more accessible.
Bridgmohan argues that the industry has long been modelled after a rigid, masculine idea – one that values competition over collaboration and inclusion. “True inclusion happens when we stop expecting women to lead like men to be taken seriously,” she says.
Natasha Bridgmohan The BridgGroup of Companies
As president of The BridgGroup of Companies, Natasha Bridgmohan has guided the business through a period of strong growth, expanding to include services across mortgages, investing, real estate, aid (including pharmaceuticals and philanthropy), lending, legal, and entertainment sectors.
What sets her apart is her commitment to giving back. She champions diversity, inclusion, and women’s leadership, founding the Elite Women Empowerment Summit to celebrate women’s achievements. She also leads free community seminars on financial literacy and wealth-building, empowering others with practical knowledge. “Don’t wait for permission. The table wasn’t built for you, so bring your own chair, or better yet, build your own boardroom,” she says.
Bridgmohan believes women should invest in financial literacy, understand their value, and own it without apology. Equally important is building a strong circle of mentors. She also stresses the importance
Conclusion
CMP’s Top 50 Women of Influence are delivering a new take on influence in the industry. While national data shows that progress on equity has slowed, this year’s awardees are pushing forward with modern leadership. They are leading collective efforts by:
• building businesses that reflect their values
• mentoring future leaders
• making meaningful change
• expanding opportunity
• shifting old expectations
TOP 50 WOMEN OF INFLUENCE 2025
Alana Riley
Head of Mortgage, Insurance, and Banking, IG Wealth Management
Phone: 403 629 6546
Email: alana.riley@ig.ca
Website: ig.ca
Natasha Bridgmohan President and Chief Visionary Officer, The BridgGroup of Companies
Phone: 905 850 4930
Email: Natasha@thebridggroup.ca
Website: thebridggroup.ca
Renée Huse
Owner, Spire Mortgage Team
Phone: 403 804 5465
Email: renee@spiremortgage.ca
Website: spiremortgage.ca
Tara Somerset
Senior Vice President, Servicing and B2B Partnerships, Nesto Group
Phone: 1 866
297 7407
Email: info@nestogroup.ca
Website: nestogroup.ca
YES YES
TOP 50 WOMEN OF INFLUENCE 2025
TOP 50 WOMEN OF INFLUENCE 2025
Ann Marie Drohan
Mortgage Broker, East Coast Mortgage Broker
Ashleigh Holtman
Mortgage Broker, Mortgage Architects
Barbara Cook
Senior Business Development Manager, BMO BrokerEdge
Briar Robertson
Assistant Vice President, Third Party Residential Underwriting, First National Financial
Candice Carr
Mortgage Broker/Owner, Kindred Mortgage Co
Carmen Patraccone
Vice President, Sales and Operations, Orbis Mortgage Group
Chelsea Bedard
Mortgage Agent, Mission35 Mortgages
Dalia Barsoum
Founder and Principal Broker, Streetwise Mortgages
Daniela DeTommaso
President, FCT
Deanne Whelan
Owner and Mortgage Broker, East Coast Mortgage Brokers
Denise Laframboise
Chief Operating Officer and Mortgage Broker, BRX Mortgage
Elaine Taylor
Managing Director – Full Service Brokerages, M3 President, Mortgage Alliance
Elena Robinson
Vice President, Residential Sales, First National Financial
Erica Fikkert
Vice President, Sales, Radius Financial Canada
Erica Ma
Area Vice President, British Columbia, TMG The Mortgage Group
Hema Amin
Mortgage Broker, Mortgage Alliance
Janice Lee
Principal Broker and Managing Partner, Clear Trust Mortgages
Janna Dawdy
Owner and Principal Broker, JCMortgages.ca
Jennifer Joynt-Johal Vice President, Credit Operations, Strive
Kate Brady President, Marketing, Dominion Media Corp.
Katy Mackenzie
Mortgage Professional, TMG The Mortgage Group
Kristy-Lynn Maxwell
Regional Vice President, Western Canada Business Relations, VERICO Canada
Laura Shelton Vice President, Marketing, Strive
Leah Zlatkin
Mortgage Broker and Chief Operating Officer, Mortgage Outlet
Leanne Conroy
Regional Director of Sales, MCAN Home Mortgage Corporation
Lisa Beaman Chief Operating Officer, Strive
Luisa Hough
Mortgage Professional, Xeva Mortgage
Lyndsey Krepela Area Vice President, Alberta, TMG The Mortgage Group
Meaghan Hastings
Founder, Chief Executive Officer, and Principal Broker, The Mortgage Coach
Michelle Campbell Principal Broker, Mortgage District
Michelle Drover Vice President, Premiere Mortgage Centre
Natasha Duric
Vice President, National Sales, Manulife
Paula Oliveira
Regional Vice President, Ontario and Atlantic Canada, BMO BrokerEdge
Prital Patel
Vice President, Funding and Servicing Operations and Chief Privacy Officer, Highclere Capital
Rakhee Dhingra
Chief Executive Officer and Broker of Record, Mortgage Savvy
Sabeena Bubber
Mortgage Broker, Xeva Mortgage
Shannon Hillman
President, Alternative Lending Division, Capital West Mortgage
Sofia Hondrogiannis
Associate Vice President, Broker Services, Sales, and Strategy, TD Bank
Tiffany Pedersen
Associate Vice President, Western Canada Sales, Strive
Tracy Regier
Senior Mortgage Advisor, Tango Financial
Tracy Valko
Founder and Principal Mortgage Broker, Valko Financial and A.I.M.I. Mortgage Collective Group
Vanessa Thomas
President and Commercial Mortgage Agent Level II, Mortgage Alliance HALO Mortgage Advisory
Varsha Sharma
Senior Partner, Syndicate Lending Corporation
Veronica Love
Chief Revenue Officer, TMG The Mortgage Group
Zeynep Babir
Vice President of Sales, 8Twelve Mortgage
SECTOR FOCUS: CONDOS
Perfect storm still batters Toronto’s condo market
Once a cash cow for investors, so-called ‘dog-crate’ condos are now causing huge headaches. Is an end to the crisis in sight?
ONCE THE darling of investors, Toronto’s condo market is continuing to face a period of unprecedented turbulence, with prices falling, sales continuing to plunge, and a glut of new inventory poised to hit the market.
By July, year-to-date condo sales had plummeted by 18% compared to the same time last year, and with more than 17,000 new units scheduled for completion in the second half of 2025 alone, the supply-demand imbalance is only set to worsen.
The flurry of completions could flood the market with new inventory even as demand continues to falter, an oversupply that’s likely to put further downward pressure on prices and create a challenging environment for sellers and a waiting game for buyers.
Waiting for the bottom: buyer hesitancy
While declining prices might seem like an opportunity for first-time buyers, most
remain on the sidelines, anticipating further drops. Victor Tran, a mortgage agent at Tango Financial and a mortgage and real estate expert at Rates.ca, notes that buyers are in no rush.
“There’s inventory there. The thing is that if you know something’s going to go on sale in a couple of weeks or even a month, you might as well just wait it out,” Tran tells CMP. “If you’re in the market for a television and you know Black Friday is just around the corner, just wait it out in a couple of weeks. Get it on sale. And that’s the thought with a lot of condo buyers right now: they’re afraid to purchase a condo and by the time they close that value is going to be less than what they bought it for.”
This sentiment was echoed across the market, with buyers wary of trying to catch a falling knife. The prospect of even more inventory hitting the market only reinforces
TORONTO’S CONDO CRISIS IN NUMBERS
the belief that waiting could yield better deals in the near future.
Rental prices also on the wane
Adding another layer of complexity is the rental market, which has seen rents fall steadily across most Canadian cities, including Toronto. A recent RBC analysis found that the average rent for a two-bedroom unit in Toronto dropped by $160 in the first quarter compared to last year. The slowdown in immigration and decline in international students – traditionally strong drivers of rental demand – have contributed to this trend.
Lower rents are giving tenants more options and reducing the urgency to buy. “If a lot of people are not happy with their current living arrangements, there’s plenty of rental units out there right now to choose from,” Tran says. “And you’ll likely be able to find the rent a little bit lower than what you secured your rent for in the higher days. So there are options out there for a lot of tenants.”
That marks a stark contrast to the post-pandemic period, when soaring rents made condo ownership seem like the only viable option for many.
Sellers in a bind
For homeowners and landlords looking to sell, the current climate is unforgiving. Taz Zaide, a mortgage agent at 6ix Mortgage Group, describes the challenge: “What we’ve found is if you’re selling a condo in this
market, it’s been quite a challenge. A lot of people are [listing] them on price ranges that they expect, but aren’t getting any [offers], so they have to further cut their listing price just to get more traction.”
Thousands of condos are sitting unsold, and with more units set for completion, the pressure on prices is unlikely to abate. Move-up buyers – those looking to sell their condo and purchase a larger home – are particularly squeezed.
“The listings for condos are sitting quite a bit in the market, and we’ve had instances where a lot of clients are buying and selling, and if they’re selling a condo to upsize, they’re finding that they’re having a lot of
“Buyers are afraid to purchase a condo and by the time they close that value is going to be less than what they bought it for”
Victor Tran, Tango Financial
trouble figuring out what the price should be for that condo, because they’re expecting more than they should be,” Zaide says. “And so they’re not getting as many showings as they should be as well. So it sits there in the market for quite some time.”
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SECTOR FOCUS: CONDOS
GTA CONDO SALES BY REGION, Q2 2025
existing owners, the situation is grim. “The main thing is that the maintenance fees are still going up for those condos, even though the prices are down,” Zaide says.
“So a lot of those people would rather just not have to pay $1,000 a month putting maintenance fees on some of these condos, where they can just take that and pay towards a mortgage in the form of a slightly higher purchase price – instead of buying a condo, let’s say buying a semi-detached or even a townhouse.”
Even buyers who are ready to purchase are proceeding with caution, waiting for clear signs of a rebound. Zaide advises that waiting for the perfect moment may not be realistic: “I think there’s no good time to jump in more than now, especially to try to buy a condo, because I do feel it’s bottomed out quite a bit on the condo side, and a lot of sellers of condos are desperate to just get rid
maybe helping them refinance and pull some equity to cover the shortfall.”
Some clients, faced with the prospect of closing on a preconstruction condo that’s now worth less than they paid, have simply walked away from their deposits – a move that can lead to legal action from builders.
Others are negotiating vendor take-back (VTB) mortgages, where the seller finances a portion of the purchase. But as Khaneka points out, “Even for clients who are closing, they know that the value is not there – but now they have to close. A lot of those were speculative buys because everything was going up at the time, and they thought, ‘We’ll just rent it out.’ But the oversupply, especially in the condo market, has caused rents to start to come down. So payments are still high, rents are low. And then you throw in the property tax and maintenance – just as an investment, it doesn’t make sense.”
Blanket appraisals: a lifeline for some In some cases, lenders have offered blanket appraisals, honouring the original purchase price for mortgage purposes. This has helped
“The oversupply, especially in the condo market, has caused rents to start to come down. So payments are still high, rents are low”
Micky Khaneka, DLC Clear Trust Mortgages
of them because they’re sitting in the market at certain price points.”
Brokers navigating a tricky terrain
For mortgage brokers, the current environment demands a flexible, situationbased approach. Micky Khaneka of DLC Clear Trust Mortgages notes, “It’s situation-based. But some of the common [solutions are]: if clients are in a capacity where they have other properties, it’s leaning on their equity and
some buyers bridge the gap between appraised value and purchase price, but qualifying for these products is no easy feat in today’s high-rate environment. “They might have qualified, or run a quick calculation at the time,” Khaneka says, “but now keeping those new rates in mind, or their personal income situation or debt scenario changing, the bank specifically might not honour that approval or might not qualify them again, so they have to now resort to other options.
ON LENDERS 2025
Brokers name Canada’s best mortgage lenders for communication,
and staying involved every step of the
BROKERS ON LENDERS 2025
BROKER-LENDER ACCORD
THE 19TH annual CMP Brokers on Lenders report marks a turning point in Canada’s mortgage market. After two tough years of rising rates and service strain, the results reflect the trade-offs brokers manage every day and identify the lenders that helped them keep deals moving and clients confident. Here are the key trends shaping broker-lender relationships between 2025 and 2023:
• Multi-lender brokers are now the norm: Nearly 80 percent of brokers submitted deals to five or more lenders in 2025, up from 73 percent. Brokers are prioritizing results over history; if a lender can’t deliver, they’re out of the mix.
• Technology is a broker dealmaker: IT satisfaction increased by 10 percent. Lenders that offered faster portals and cleaner workflows won more volume as brokers gravitated to smoother systems with fewer submission hiccups.
• BDM support matters more than ever : BDM scores rose 7 percent, driven by stronger field engagement and improved relationship management.
• Speed and flexibility drive broker decisions : Turnaround time, underwriter access, and adaptable credit policies still tip the scale when brokers are deciding where to place tricky or time-sensitive files.
• Rate expectations are hard to meet: Interest rate satisfaction fell by 5 percent in 2023, the only category to experience a decline. Many brokers say rate reductions haven’t translated into deals as pricing remains a concern. Lenders that can explain their processes clearly and approve loans quickly are more likely to win the business.
How the best mortgage lenders in Canada earned broker loyalty
The past year tested both lenders and brokers as they adjusted to volatile conditions and stricter rules. Interest rate swings and tighter lending conditions shaped the broader market, but brokers say what mattered most was how lenders supported their clients when deals became tough.
While the Big Six banks still dominate origination, their share dropped from nearly 60 percent in late 2022 to 52 percent by the end of 2023. Alternative and non-bank lenders, including credit unions, MICs, and private players, gained traction as borrowers turned to lenders that could move quickly and work around tighter approval rules. That change gave brokers more room to build new lender relationships, especially with those willing to adapt to credit or timing changes. Interest rate volatility: Lower inflation expectations led the Bank of Canada to cut policy rates seven times between June 2024 and March 2025. While those cuts reduced
BY THE NUMBERS: BROKER SNAPSHOT
borrowing costs, brokers say some clients still held back. Brokers stepped into a bigger role, acting as translators and strategists, helping borrowers decide whether to lock in or ride out the volatility.
The Bank of Canada held its policy rate at 4.50% through Q1 2025, citing modest progress on inflation and employment stabilization.
Tighter lending criteria and regulatory scrutiny: Stricter stress tests and increased oversight forced lenders to apply tighter credit filters, especially on refinances and higher-risk borrowers. Brokers became client advocates, working within narrower approval parameters and tighter timelines. Lenders who communicated early and often earned more business from brokers juggling urgent or complex deals.
Technology and digital transformation: CMP data shows broker satisfaction with lender tech rose 10 percent from 2023 to 2025. The lenders that pulled ahead focused on investing in technology, making it easier to submit and track deal progress.
Service as a differentiator: As rate expectations became harder to meet, brokers placed more weight on service. A fast turnaround, flexible credit policy, and reliable underwriting often determined the deal. “Competitive rates matter, but communication and service levels are huge for me,” says Janna Dawdy, principal broker and owner at JC Mortgages. “If I can’t get timely responses from a BDM or underwriter, that’s a deal breaker.”
A market defined by partnership : Brokers kept coming back to lenders who worked like true partners. “You want your lender to be an extension of you,” says Goldy Singh, partner at Diverse Mortgage Group. “When they understand your client’s situation and help find solutions, everyone wins.”
CMP’s 2025 survey draws on detailed broker feedback rating lenders across 10 core service areas, including turnaround time, support, product range, and pricing. For the first time, lenders were grouped into prime,
alternative, and private/MIC tiers, with gold, silver, and bronze awarded to the top three in each category, as well as overall.
Canada’s mortgage cycle is in motion
Canada’s mortgage market in 2025 is showing signs of renewed energy after a rocky two years. While borrowers remain sensitive to higher rates, the shift toward variable products, the aggressive lender competition, and the start of a massive renewal cycle are reshaping broker activity nationwide. Mortgage debt reached $2.3 trillion by early 2025, but growth has slowed as budgets tighten and borrowers prioritize flexibility.
Key national trends
• The great renewal begins: Over two million mortgages are set to renew between 2024 and 2026. In Q1 2025 alone, renewals and refinances drove a 57.7 percent year-over-year surge in new originations. Approximately 28 percent of renewing borrowers switched lenders, a signal of growing price sensitivity and opportunity for agile lenders. Brokers are driving much of this movement, especially among uninsured clients who are now free to move without requalifying.
• Variable rates make a comeback: With the Bank of Canada cutting rates seven times since mid-2024, variable-rate mortgages have climbed back to 42 percent of new originations. Shorter fixed terms are also gaining traction, reflecting borrower expectations of further rate relief.
• Affordability still strained: Despite modest price corrections and falling rates, stretched affordability persists. Most new buyers are extending amortizations or relying on family support, as 70 percent of first-time buyers received financial help with down payments.
METHODOLOGY
To uncover the best lenders in the eyes of Canada’s broker community, CMP reached out to brokers across the country, asking them to rate the lenders they work with across 10 key areas, including turnaround time, interest rates, product range, broker support, overall service levels, and more.
To provide a more nuanced view of lender performance within specific market segments, CMP this year categorized lenders into three distinct groups – Alternative, Prime, and Private/MIC.
As in previous years, CMP also asked brokers to weigh in on important aspects of the broker-lender relationship, such as how commissions and bonuses might change and why they choose to send deals to banks rather than monoline lenders.
For each category, lenders were ranked in order of merit according to an average score calculated from the ratings they received from brokers. The top three lenders in each category received a gold, silver, or bronze medal. Lenders’ combined average score from all categories determined the overall gold, silver, and bronze medallists.
Regional performance snapshots (2025)
• Ontario: Delinquency rates nearly doubled from 0.13 percent to 0.24 percent as mortgage resets hit. Brokers here are dealing with more payment shock scenarios than any other region.
• British Columbia: Conditions are softening slightly, with delinquencies up to 0.18 percent, but population growth continues to drive long-term demand.
• Prairies: Alberta is outperforming in terms of arrears and deal volume,
BROKERS ON LENDERS 2025
“I’d love to say we sit back and figure this all out ourselves, but we don’t. We’ve always collaborated with mortgage professionals, and they help us understand what’s needed so we can build products and services that fit”
John Bourassa, Haventree Bank
thanks to stronger economic momentum and lower housing costs. Saskatchewan and Manitoba are holding steady.
• Quebec: Mortgage stress remains among the lowest in Canada, thanks to conservative lending practices and stable home prices.
• Atlantic Canada : Mixed picture –some provinces, such as Prince Edward Island, have rising arrears, while others, such as New Brunswick, are benefiting from steady demand and migration.
for renewals. Banks and non-banks alike are deploying flexibility with amortization, rate specials, and faster deal turnarounds to capture business.
• Switching gains steam: Brokers are leading the switch trend, especially among uninsured borrowers now exempt from stress test requalification.
• Credit health eroding: Mortgage arrears are rising but remain below pre-pandemic norms (national average: 0.21 percent). Non-mortgage delinquencies, however, are at their highest level since 2009, primarily driven by missed payments on credit cards and auto loans.
Structural headwinds
• Housing supply still lags: Despite government programs such as the Housing Accelerator Fund, developers face high construction costs and increasingly stringent financing requirements. New builds are slowing, especially in Ontario and the condo segment.
• Immigration slows slightly, demand persists : The federal government has trimmed immigration targets modestly, but strong population growth continues to support long-term housing demand, especially in BC and Alberta.
Multi-lender broker era
CMP ’s 2023–25 data confirms a decisive change in broker behaviour, as deal activity spreads across a broader range of lenders. This reflects brokers’ need for flexibility, niche product access, and consistent support. In today’s competitive environment, it’s clear that the era of the multi-lender broker has arrived.
“The broker channel has grown. There’s an influx of files, more volume than we’ve seen in years, partly because mortgage
specialists and bank reps are moving over,” says Singh. “That growth is why communication matters so much right now.”
Key takeaways: In 2025, more brokers are working with a wider range of lenders. The proportion submitting deals to five or more lenders rose to 79 percent (up 6 points from 2023), while those working with only one or two lenders fell to 4 percent. The share of brokers partnering with three or four lenders has stayed steady, indicating a trend toward either broadening lender relationships or focusing on a select few.
Industry insight: This widening of deal flow reflects how brokers are responding to borrower complexity, evolving lender criteria, and the pressure to stay competitive. Access, adaptability, and lender consistency now influence deal placement more than loyalty alone.
As lender portals, CRM systems, and back-office efficiencies improve, brokers are taking full advantage of the ability to diversify and using it to serve clients more effectively.
CMP’s three-year data reveals rising broker satisfaction,
led
by gains in tech and support
Between 2023 and 2025, brokers reported rising satisfaction with top lenders, crediting that to better platforms, faster responses, and stronger engagement from BDMs. The latest results indicate that lenders prioritizing responsiveness and relationships are moving ahead, while pricing remains a challenge.
1. Broad-based improvement : Nine out of 10 categories improved, highlighting a competitive, responsive industry with lenders raising service levels to meet broker expectations.
2. Technology and BDM support lead
the gains: IT/technology rose from 4.00 to 4.40 (up 10 percent), the biggest gain, while BDM support increased from 4.28 to 4.58 (up 7 percent).
3. Product and service expansion: Product range improved 6 percent (from 4.19 to 4.44) and overall service levels rose 5 percent (4.27 to 4.48), as lenders broaden offerings and focus on consistent support for brokers.
4. Commission structure holds strong: Scores stayed above 4.6 for all three years, reflecting ongoing transparency and competitiveness. key for broker trust and loyalty.
5. Modest gains in speed and underwriting: Turnaround time increased 3 percent (from 4.15 to 4.27), and underwriter support edged up slightly (4.42 to 4.46), indicating already high scores with limited room for further improvement.
6. Interest rates the only decline: Interest rates dropped 5 percent (from 4.39 to 4.19), the only category to fall, likely due to macroeconomic factors and heightened broker sensitivity to rate competitiveness.
These jumps reflect serious investment in digital tools and stronger, more proactive support in the field. “The lenders that are slow to adopt tech are going to fall behind –they just can’t keep up with the speed clients expect these days,” notes Dawdy. “Portals that let you upload docs directly and see the deal status are a game changer.”
Singh adds, “If lenders are using AI to help sort rush deals from non-rush deals and then pairing that with a human underwriter who can communicate clearly, that’s what’s going to make them successful. It has to be both.”
Biggest challenges brokers faced in 2025
Brokers reported multiple issues this year, including delays in processing, communication breakdowns, documentation overload, and policy tightening.
“Turnaround time is everything. If I can get a response, approval, or even a decline within the same day or 24 hours, that’s a win,” says Dawdy. “But it’s not just about the decision. The underwriter needs to communicate. A quick note or call can save everyone time.”
Singh points out, “One of the biggest improvements I’ve seen is prioritization. If you mark a deal as conditional financing, lenders will flag it and place it in the priority queue. That’s made a real difference. But it only works when the lender also picks up the phone or emails you right away.”
Brokers’ comments highlighted their frustrations:
• Slow turnaround times: “Even after replying to a lender’s email ASAP, they respond whenever they feel like it, no matter what the urgency is”
• Poor or inconsistent communication : “One of the biggest challenges we’ve faced with lenders in the last 12 months has been communication delays and inconsistent updates”
• Stricter lending policies and documentation requirements: “Getting clients qualified based on lender’s strict guidelines”
What brokers value most in a lender
Brokers praised lenders that brought a personal, flexible, and proactive approach to deal-making. They emphasized the value of real-time communication, policy flexibility, and staff who understand how to close deals.
“There has to be human capacity in the file,” says Singh. “Even if lenders are using AI to sort and streamline, there still needs to be a person on the other end who can communicate the next steps.”
Dawdy adds, “Some of the best lenders I work with assign a dedicated underwriter to my files. That makes a huge difference in communication and turnaround. It’s a more personalized experience, and it helps structure the deal better, too.”
These relationships, brokers say, have been crucial in helping clients through renewals, complex financial profiles, and short-notice turnaround requests.
BROKERS ON LENDERS 2025
Personalized and flexible solutions: Many brokers highlighted lenders that were willing to think outside the box, tailor solutions to unique client situations, and make exceptions based on common sense rather than rigid policy.
• “Actually underwrite the risk of a borrower and consider unique exceptions when they make sense in a reasonable amount of time”
Going above and beyond for difficult or unusual deals: Brokers frequently mentioned lenders that worked overtime, prioritized urgent files, or intervened personally to ensure a deal closed, especially in challenging circumstances.
• “Exceptional underwriter access and quick turnaround times on urgent files”
Transparency and honesty: Brokers valued lenders that communicated openly, gave honest feedback, and were straightforward about what could and could not be done.
• “Answered the phone and answered my questions with honesty and integrity”
Support during personal or business hardship : Some brokers mentioned lenders that supported them or their clients through difficult times, such as health crises or emergencies.
• “Supporting me through a very difficult time with my wife and business partner being off work dealing with cancer”
A proactive and solution-oriented approach : Lenders that offered creative solutions, suggested alternative products, or found ways to make deals work, even if it meant bending standard processes, were highly appreciated.
• “Assist with difficult files to find a solution”
BROKER SATISFACTION RATINGS BY CATEGORY (2023–25), WITH % CHANGE
Brokers’ wish lists for lender improvements
Brokers want support and tools that make their jobs easier, so they can help clients achieve their goals. Their top requests for the year ahead include:
• faster approvals, document reviews, and funding timelines
• more competitive pricing, higher LTVs, and better rate parity with branches
• easier, more direct access to BDMs and underwriters for quick deal runs
• greater flexibility in underwriting and fewer rigid documentation requirements
“If I could change one thing, it’s making communication easier,” says Singh. “Give me a direct line to the BDM or underwriter so I can do a quick deal run and see if something even fits. That alone could save us days.”
Dawdy notes, “Clients are expecting unicorn rates. Social media and the news are hyping cuts that don’t exist yet, and it’s putting a ton of pressure on brokers. Lenders need to be more up front about rate mechanics and more collaborative on renewals. Right now, it sometimes feels like we’re competing with the same lender we brought business to.”
For Singh, education is also a key component. “Lenders should be doing monthly or quarterly sessions to share policy updates and solutions with brokers. If brokers knew all the niche products out there, they’d lose fewer deals.”
Haventree Bank ranked highest by brokers
When asked who delivers the best service in Canada’s alternative lending space, brokers pointed squarely to Haventree Bank. The leading national lender took gold overall in this year’s CMP Brokers on Lenders survey,
“We focus on helping our broker partners succeed. The key is to ask how you can help, not just for business. Trust and consistency go a long way in the MIC space”
Ryan
Lee, Three Point Capital
earning top scores in seven categories, including underwriting, turnaround time, and overall service, and silver in the remaining three. No other lender ranked higher across the board.
The best alternative mortgage lender in Canada earned broker satisfaction across every service category. Here’s what pushed them to the top:
• proactive client care amid 2024–25 economic uncertainty and trade disruptions
• full national expansion, now lending coast to coast
• strong broker collaboration through a national advisory council
• standout BDM support with consistent, relationship-driven leadership
Haventree Bank entered 2025 on the heels of a standout year, but unanticipated market tests emerged quickly. The team responded
to economic instability and geopolitical tension, including the impacts of US trade policy, by reaching out to existing customers and ensuring those in affected industries or regions received support.
“Our first priority was to our existing customers to remind them we are here to help,” chief operating officer John Bourassa explains, “whether it is through payment solutions, resources such as our NextJob program, or providing reassurance.”
The NextJob program is a first-of-itskind support initiative by Haventree Bank designed to help homeowners who unexpectedly lose their job keep their mortgage and, ultimately, their home. It combines both mortgage assistance and career support services to ease the transition back to employment.
The uncertain times also provided an opportunity for the bank. Prime borrowers, for example, may have found themselves needing temporary assistance from an alternative lender. “At Haventree, we’re in the business of solving problems, and we consider that our mandate. It’s something near and dear to us,” Bourassa says. “Life isn’t always predictable, and in those moments of uncertainty, we are uniquely positioned to offer timely solutions and fill critical financial gaps.”
How
the model changed
Haventree’s vice president of mortgage lending, Greg Schultz, outlined several changes that have refined its service model over the past year, creating a more agile and service-oriented culture, which brokers are responding to:
• established independent management structures for underwriting and fulfillment, allowing each team to focus more on its function and improve both accountability and responsiveness
• elevated fulfillment analysts’ roles and decision-making authority, enabling
more proactive and personalized broker support
• enabled fulfillment analysts to respond directly, reducing delays tied to a single point of contact
• paired brokers with familiar underwriters through a relationship-based allocation model, improving communication and consistency
“We strive to build relationships with our brokers, whether it’s a first-time broker or someone who’s worked with us before,” Schultz says. “If they tell us they had a fantastic experience and enjoyed working with a particular underwriter, we make sure they’re matched with that underwriter again.”
Digital investment with a human edge Brokers value the bank’s digital tools because they support human connection instead of replacing it. That idea continues to shape its tech approach, says Susan Thomas, vice president of sales. “Brokers love our portal. We hear that feedback constantly. It provides real-time updates so brokers can follow the mortgage journey.”
Thomas says the feedback loop is intentional. Haventree actively consults its broker council and develops features based on requests from its partners. “We continue to invest strategically in technology to deepen our broker relationships,” she adds.
But that doesn’t mean abandoning personal service. “Sometimes it just means picking up the phone. You don’t want to overdigitize the experience. That personal touch really matters.”
Schultz echoes the point: “The old-fashioned telephone – there’s nothing better.”
What makes the BDM team click
Haventree’s BDM support is anchored in empowerment and empathy. “We’re lucky to have a team of highly qualified, engaged professionals who work together,” explains
BROKERS ON LENDERS 2025
Thomas. “There’s been a lot of change within the sales team over the past year, and we’ve worked hard to evolve together.”
That evolution included transitioning to a key account strategy that complements the relationship-based underwriting model. The result is greater consistency for brokers. “They know what to expect, and that improves the customer experience,” she says. “We focus on strong efficiencies for our team and brokers, so everyone is clear on what to expect. That reduces stress for the broker and their client.”
As an alternative lender, Haventree approaches deals with what Thomas calls “empathetic lending.” She says, “It speaks to our focus on understanding the full picture of our brokers’ clients, some of whom are going through hardships. Whether it’s a life event, a bruised credit score, or a self-employed individual with a complicated financial history, they do not qualify with an A lender or, worse yet, they have already been declined. This makes the approval process stressful. That’s why fast, efficient turnaround times matter so much.”
The sales team also co-developed a standard of performance this year to reinforce accountability and shared success. “We hold ourselves to it. We share best practices, celebrate each other’s wins, and step in when someone needs help. Everyone knows they can bring a challenge to the team, and we’ll work through it together,” says Thomas.
Three Point Capital sets the MIC benchmark
With a broker-first model and a clean sweep across 10 performance categories, the Kelowna, British Columbia-based private lender has positioned itself as the MIC to watch.
“We always talk about helping our broker partners be successful, so what’s important to them tends to become important to us,” says president and CEO Ryan Lee.
WHAT BROKERS VALUE MOST IN A LENDER (2025)
“Our team makes a point to champion the broker, even in our communication with the borrower. We take the view that the better our broker looks, the better we look, and we drive that home as much as possible.”
10 out of 10
Brokers took notice. In this year’s CMP Brokers on Lenders survey, Three Point Capital not only claimed the gold medal overall but also swept every category in the private/MIC division.
Top scores included turnaround time, underwriting support, commission transparency, credit policy satisfaction, and BDM support.
When urgency meets
complexity
Private lending often involves tight time frames and layered borrower profiles. For Three Point Capital, that’s where experience and structure kick in. “Complex and urgent, individually, are fine. Together, they
do become a challenge,” says Lee. “That’s not unique in our business, and our team has seen most of it. But I think we’ve got the best in the business when it comes to our underwriters, support team, and directors of business development.”
Three Point Capital brings 30 years of experience to the table. That history helps, but Lee says two things have a more immediate impact:
• solid front-end file prep
• transparent fees and rates
“The team are the faces of the company out in the community,” he says. “They do an excellent job working with brokers to make sure they’ve got everything they need before submitting to our company. So, once it does arrive with our underwriters, they’ve largely got everything they need to review it.”
Consistency and transparency have been key, he remarks. The lender publishes
its rates and fees up front and adheres to them. That approach reduces back-andforth, eliminates confusion, and fosters long-term trust.
People first, tools second
The team doesn’t lean heavily on digital tools to drive broker satisfaction. That’s by design. For Lee, the differentiator is the people using the tools.
The leading lender does use platforms such as Mortgage Automator and in-house scoring models to support underwriting and risk review. But decisions rest with experienced professionals who know how to weigh context. “It comes down to the people we’ve made a point to invest in, and we’ve invested in some of the best in the business,” Lee reiterates.
For brokers, that matters. Trust, transparency, and consistency in both product and pricing form the foundation of the relationship. “I believe, and I’m a little bit biased, but that we’ve got a great product. The brokers can speak confidently about it even when we’re not in the room because they know we’re going to stand behind our product and our price.”
Finding value in a slow market
With mortgage activity down from 2024 to 2025, and even high-quality purchase deals becoming harder to come by, the lender sought new ways to support its broker network. “We thought of ways that would, in an impactful way, recognize brokers in the eyes of their clients,” Lee explains. “We tried to focus on helping them grow in hopes that their growth would eventually find its way to us.”
Lee also encourages lenders to engage with the Canadian Alternative Mortgage Lenders Association (CAMLA), which he sees as a growing resource for the sector. “When everyone elevates their business, the industry grows, and we all do better,” he says.
Mortgage experts share their insights
Diverse Mortgage Group partner
Goldy Singh:
Case-by-case flexibility: “Lenders stand out when they consider exceptions for clients, like those moving from salaried to self-employed in the same field, if there’s solid rationale and supporting documents. It shows they understand situations can change and are committed to helping clients.”
Quick deal runs with underwriters : “You should be able to feel comfortable that you can call your lender and do a deal run to see if that deal will fit. You could save time by contacting someone to see if it fits, rather than waiting a couple of days for a decline.”
Helping clients plan long-term: “What I do is a client review. I ask, ‘What’s your one-to-five-year plan? What’s your five-toten-year plan?’ Whether they’re sending a kid to university or retiring, we use that to choose the right mortgage product.”
JC Mortgages principal broker and owner Janna Dawdy:
The human element in lender relationships: “The relationship piece matters more than ever. You want to feel like you’re working with a team that wants your business and will support you when you need quick answers, not just process deals.”
Tighter documentation and borrower risk profiles : “There’s also a group still stuck in the ‘FOMO’ mindset from a couple of years ago, racking up more debt than they can handle. Lenders are being more cautious, asking for extra documents and proof of income to make sure things align with their risk tolerance.”
Future of broker-lender partnerships: “I think we’re going to see lenders
INSIGHTS
As part of our editorial process, Key Media’s researchers interviewed the subject matter experts below for their independent analysis of this report and its findings.
Goldy Singh
Partner
Diverse Mortgage Group
Janna Dawdy
Principal Broker and Owner
JC Mortgages
become more selective about which brokers they work with … those who understand their products and bring quality deals to the table. The brokers who’ve built strong, lasting relationships and know how to manage the client-lender dynamic will continue to thrive as trusted liaisons.”
Conclusion: Top lender performance highlights of 2025
Brokers worked with lenders who responded quickly, solved problems, and stayed engaged. The lenders recognized in CMP’s 2025 report earned broker trust through consistent service and real support.
• Technology mattered, but only when paired with human responsiveness and transparency.
• Speed and flexibility separated top performers from the pack.
• BDM and underwriter communication remained a deal breaker or dealmaker.
• Brokers spread their volume, favouring lenders who helped them succeed across client types.
• Partnerships, not just pricing, earned long-term trust.
BROKERS ON LENDERS 2025
BROKERS ON LENDERS 2025
BROKERS ON LENDERS 2025
MORTGAGE RATES
Borrowers opt for fixed-rate stability in volatile market
In an economic environment marked by uncertainty and unpredictability, many borrowers are choosing the safer option over variable rates
CANADA’S MUCH-DISCUSSED mortgage renewal wave is well underway, with scores of pandemic-era mortgages renewing this year and next – often at significantly higher rates than borrowers enjoyed in 2020 and 2021.
The majority of homeowners renewing hold five-year, fixed-rate mortgages, according to the Bank of Canada, and are expected to be able to weather the impact of higher payments looking ahead.
A “severe worsening of financial stress for affected borrowers” is unlikely, the central bank said in an analysis this year, because most are likely to see interest rates below what they were stress-tested for during the pandemic and many have a higher income than they did five years ago.
And fixed-rate mortgages – whether for five years or around three – remain a popular option for borrowers at renewal time, according to Ottawa broker Chris Allard of Smart Debt Mortgages, because of the peace of mind they currently offer compared to variable rates.
The fact that those rates don’t move up or down in tandem with volatile bond yields for the duration of the mortgage, he said, means borrowers are often currently choosing them over unpredictable variable options.
“Specific to Ottawa, we need to remember that many of our clients have full-time salaried roles with no opportunity or limited opportunity for bonus or overtime income,”
Allard told CMP. “And what I’ve found is that many borrowers have been wanting to stick with the fixed-rate option.
“Given that they’re salaried employees with no income fluctuation, the thought of payment [changes] can be daunting, and with the cost of living, we’re often hearing that they’re putting a little bit less money aside than they’d like to. And so, if they can control one thing, it’s within their budget. They want to make sure that their payment’s stable.”
A TransUnion study for 2025’s second quarter showed that more than one in four Canadians (27%) are unable to pay all their bills and loans in full, with 96% remaining worried about inflation and more than half (51%) citing a recession as one of their top three financial concerns for the months ahead.
Meanwhile, the latest MNP Consumer Debt Index showed nearly two-thirds of Canadians say they need interest rates to fall for their finances to improve, while 36% say they’re feeling stressed or anxious about their finances.
Allard said the choice between fixed and variable rates depends on the client, and those who are confident about BOC rate cuts between now and the end of the year might still opt for variable. “But by and large in my clientele, even if they think there’s opportunity to save with the variable, they’re kind of going: ‘You know what, I need some stability.’ ”
Concerns over job cuts fuel Ottawa borrowers’ fixed-rate preference
In Ottawa, that concern has been driven in part by a comprehensive spending review launched by Prime Minister Mark Carney aimed at reducing public sector fat through “ambitious savings proposals.” The directive, which calls for program spending reductions of 7.5%
“By and large in my clientele, even if they think there’s opportunity to save with the variable [rate], they’re kind of going: ‘You know what, I need some stability’ ”
Chris Allard, Smart Debt Mortgages
Many borrowers prefer stability, consistency of fixed rates
That’s not to say there’s currently a massive gap between fixed and variable rates. Depending on the lender, variable options are usually priced similarly to fixed rates and fall within the same range.
But the national economy continues to face a high degree of uncertainty because of ongoing trade tensions with the US, and other reports suggest Canadians are increasingly concerned about their own personal finances.
in the upcoming fiscal year followed by a 10% cut next year and 15% by 2028/29, has sparked some concern among federal workers that their jobs could be on the line.
“It’s not clear if there’s going to be some job losses in Ottawa with the federal government cuts,” Allard said. “It sounds like there are some cuts looming, and that could impact a lot of their borrowers. So they’re just saying, ‘We’re not in a period where we should take on any risk, regardless of what opportunity we might have.’”
BROKER FOCUS
A leap of faith pays off
Joanna Zhou’s switch from residential to commercial lending has proven an award-winning one. CMP caught up with the broker to hear the story behind that move
FOR JOANNA ZHOU of TMG The Mortgage Group, making a pivot as a broker from the residential sector into the commercial mortgage market was a gamble, but it proved an inspired move, one that paved the way for even greater success and recognition by her mortgage industry peers.
Winning the Commercial Broker of the Year award at the 2025 Canadian Mortgage Awards reflected a remarkable, and rapid, ascent in the commercial space for Zhou, who also earned a spot on CMP ’s Top 75 Brokers list this year as a top originator.
Zhou decided on the switch to commercial lending when the residential market was stuck in something of a rut after the COVID-19 pandemic. For some, it may have been a daunting change, but as she tells CMP, she hit the ground running by studying success stories in the industry, subscribing to newsletters, attending seminars, and ramping up her educational focus on the commercial space.
In many cases, her role models in the commercial space were some of her competitors for the award she won. “I wanted to learn how they market themselves, how they serve their clients, and how they operate at such a high level,” she says.
“So I feel winning this award is not just a recognition – it’s also a reminder of how far I’ve come and how much further I still want
to go. It motivated me to keep growing, keep learning, and keep delivering value to my clients and the industry.”
Zhou’s journey in the mortgage sector began after she moved to Canada from Shanghai in 2016, where she had worked at
That served as motivation, helping Zhou carve out a successful career in the industry and earn a spot among the Excellence Awardees in the Young Achiever of the Year category at the CMAs in 2023. Then came the decision to move to commercial lending,
“Be patient, stay curious, have your passion, and commit to learning. That is where you can build real value and credibility for your clients”
Ernst & Young. The transition was far from easy. “After two years exploring a career in Canada, I finally found my passion in real estate and got licensed as a mortgage broker, as a mortgage agent, in 2018,” she says. “But at that time, I had no local network, no experience in Canadian banks, no clients. Like, just starting from zero.”
FINDING YOUR NICHE
driven by her desire to evolve in the industry alongside her clients.
She also saw a gap in the market for commercial borrowers – especially newer investors – who struggled to get the right advice from larger brokerages. “I just decided to lean into that space and learn everything I could and position myself, and help
For Joanna Zhou, identifying a niche is a key way brokers can grow their businesses and enhance their reputation in the industry. “For me, it was CMHC insurance and construction loans for purpose-built rentals,” she says. “But everyone’s different. So find a niche you really understand and you really have a passion for. That’s where you can go deeper and deeper.”
BROKER IN BRIEF
NAME:
Joanna Zhou
COMPANY:
TMG The Mortgage Group
SPECIALTIES:
Financing income properties, working with real estate investors
AWARDS:
2025 Canadian Mortgage Awards –Commercial Broker of the Year
2025 CanadianMortgageProfessional Top 75 Brokers
2023 Canadian Mortgage Awards –Excellence Awardee, Young Achiever of the Year
them to get a good financing product that institutional investors can get.”
Submitting her application for this year’s CMAs made Zhou realize her success is as much about her journey and growth as it is about numbers. “Instead of focusing on how much volume I funded and [the] big deals I worked, or how complex my deals were … I just shared my journey,” she says.
“I talked about how I learned from industry role models. This helped me triple my residential business in my third year in the industry … and last year, after shifting into commercial financing, I tripled my business again.”
For brokers considering a similar move, Zhou’s advice is clear: “Be patient, stay curious, have your passion, and commit to learning. That is where you can build real value and credibility for your clients.”
What’s more, resilience is the name of the game for brokers. “Don’t give up if your early deals don’t fund,” Zhou says. “Just treat every deal as a learning opportunity. It will pay off.”
JP Boutros says his passion for F1 has given him an invaluable professional edge. “ It’s been the ultimate networking venue for over 30 years ” ”
RACING BEYOND MORTGAGES
JP Boutros reflects on over three decades as an avid F1 follower – including some unforgettable experiences
WHILE MANY in the mortgage industry spend weekends crunching numbers, JP Boutros, a government relations and industry expert, has spent over 35 years immersed in the high-octane world of Formula 1 auto racing.
A devoted follower of legendary Brazilian F1 driver Ayrton Senna, Boutros even leveraged his journalism credentials to access the F1 paddock and later launched his own company based on his passion.
“I created a Formula 1 marketing and memorabilia business, which gave access to the F1 drivers and teams many years before Netflix and Drive to Survive ever existed,” he recalls.
His passion led to unforgettable moments –organizing a 2004 charity soccer match featuring F1 drivers and Brazil’s 1994 World Cup champions, and even defending against Michael Schumacher himself. “It’s not easy to play defence against someone whose legs are worth $50 million per year,” he laughs.
Later that year, he was honoured as a guest of the Senna family at the Brazilian Grand Prix, staying at Senna’s private beach house. “I got to live where Ayrton Senna lived. That’s an unbeatable experience,” he says.
For Boutros, the memories and lessons from F1 are truly priceless. “I genuinely would not trade them for $50 million, perhaps more. They are truly experiences money cannot buy.”
35
Number of years Boutros has passionately followed Formula 1 racing
2004
Year Boutros organized a charity soccer match featuring F1 drivers
826.5M
Reported global F1 fanbase, which has seen a huge surge in growth
