BEHIND THE BROKER: Ben Choe’s Journey from Banker to Broker The Mortgage Broker Podcast is back with another insightful episode in our Behind the Broker series, and this time, we’re featuring an inspiring story of transition and success. In this episode, we sit down with Ben Choe , one of the top agents at A Better Way Mortgage Group, who has made an impressive impact in the mortgage industry after moving from banking to brokering. From Banking to Brokering: A Career Evolution Ben’s journey into the financial world started unexpectedly. Originally focused on science, he pivoted to accounting upon his father’s advice—only to discover a passion for finance instead. While studying at Simon Fraser University (SFU) , he landed a co-op position at RBC as a Personal Financial Services Representative. This role introduced him to the fundamentals of banking—handling bank accounts, credit cards, and loans—and set the stage for his future in lending. He continued his career in CIBC , followed by VanCity , where he specialized in lending. After nine years at VanCity, Ben moved to Scotiabank , where he honed his expertise in mortgage solutions for new immigrants and real estate investors. However, after experiencing multiple institutional shifts—where capital constraints affected lending capabilities—Ben realized he needed more control over his future. The solution? Becoming a mortgage broker. The Decision to Go Independent Transitioning from banking to brokering wasn’t easy. As a mortgage specialist at a bank, Ben enjoyed job security, but he was limited to a single lender’s products. As a broker, he gained access to multiple lenders, ensuring he could always find the right solution for his clients. The challenge? Adapting to 100% commission-based income and learning the intricacies of multiple lender policies. Unlike many former bankers who rely on underwriting support in their early broker days, Ben chose to immerse himself fully. He spent his first months calling lenders daily, learning policies, and building relationships with BDMs (Business Development Managers) —a move that set him apart. Keys to Success: Hard Work and Discipline Ben attributes his rapid success as a broker to discipline and daily routines . His approach includes: Building a structured workday: Arriving at the office by 8:30 AM, reviewing deals, and creating daily to-do lists. Proactively engaging with referral sources: Staying in touch with past clients, realtors, financial planners, and other partners. Continuous learning: Meeting with BDMs and attending industry events to stay updated on lender products and policies. Leveraging technology: Using CRM tools like Gold Rush and Velocity to automate client touchpoints and streamline workflows. Work-Life Balance: Staying Active to Stay Sharp Beyond his mortgage business, Ben leads an active lifestyle that helps him manage stress and stay energized. He’s a certified snowboard instructor , an avid runner, a golfer, and even a triathlon participant . For him, staying active isn’t just about physical health—it’s about mental resilience , which plays a crucial role in handling the demands of mortgage brokering. Advice for Aspiring Mortgage Brokers When asked what advice he would give to someone transitioning from banking to brokering, Ben emphasizes consistency and humility : Develop a daily routine: Structure your day with clear objectives and follow through. Talk to BDMs: They are your best resource for understanding lender guidelines and learning how to structure deals. Leverage available tools: Use CRM systems, marketing automation, and lender resources to stay efficient. Stay humble and keep learning: There’s always something new to learn in this industry, whether it’s about lender niches, market trends, or client engagement strategies. Looking Ahead: Scaling for the Future Ben’s goal for the next year? Scaling his business. As his volume grows, he’s exploring ways to become more efficient, whether by hiring support staff or forming strategic partnerships to handle increasing client demand. His story is a testament to the power of adaptability, perseverance, and continuous learning —essential traits for anyone looking to thrive in the mortgage industry. Stay tuned for more insights from top brokers in the Behind the Broker series, only on The Mortgage Broker Podcast ! 🎙 Subscribe to the Mortgage Broker Podcast: Available on Spotify, Apple Podcasts, and YouTube . 💡 Stay Updated with the ABW Mortgage Memo! Sign up for our weekly market insights: JOIN NOW

2/11/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

Mortgage Mastery - Top 3 Reasons Brokers found Success with Craig Vetter Guest: Craig Vetter - TOP Business Coach in the Canadian Mortgage Space Hosts: Dean Lawton and Deryk Williamson The Three Pillars of Success for Mortgage Brokers! In the latest episode of The Mortgage Broker Podcast, we had the pleasure of sitting down with Craig Vetter , a seasoned mortgage business coach, to discuss the three key pillars of success that separate top-performing mortgage brokers from the rest. Craig shared actionable insights and strategies that brokers can implement to improve their consistency, tracking, and processes —all of which are crucial for long-term business growth. 1. Consistency: The Foundation of a Thriving Mortgage Business Craig emphasized that consistency is more important than intensity when it comes to building a successful mortgage business. Drawing inspiration from James Clear’s Atomic Habits, he highlighted how small, consistent actions over time drive sustainable success. Three Areas Where Brokers Must Be Consistent During the Loan Process: Regular updates to clients and referral partners ensure a seamless experience. If a client or partner has to call you for an update, you've already fallen behind . Post-Funding Follow-Ups: Most brokers drop the ball here. Implementing structured first-payment check-ins, annual mortgage reviews, and renewal strategies can help build lifetime clients. Referral Partner Engagement: Top-performing brokers don't just wait for referrals; they proactively maintain relationships with their key partners to keep the business flowing. 💡 “If you can consistently follow up with people who already know and like you, why wouldn’t you?” – Craig Vetter 2. Tracking: Know Your Numbers, Grow Your Business Successful brokers don't operate in the dark. Craig underscored the importance of tracking key metrics such as: Leads received Applications submitted Funded deals Referral conversion rates By understanding where your business is coming from, you can double down on high-converting referral sources and move away from time-consuming, low-converting channels. The Cost of Not Tracking One of Craig’s most eye-opening examples was about tracking referral sources . A broker received 30 referrals from one realtor, but only one deal funded, while another realtor sent only two referrals, and both funded. Without tracking, the broker would have wasted significant time on an unproductive partnership. 👉 “It's not just about the cost of lost deals—it's about the opportunity cost of where you could have been investing your time.” 3. Process: Scaling Your Business with Efficiency A repeatable and reliable process is what allows brokers to scale their business efficiently. Craig used McDonald's as an example—one of the most systemized businesses in the world, running on process rather than talent alone. Building a Strong Mortgage Process Standardize Lead Intake: Use a structured form to ensure every client gets the same experience. Clear Communication: Let clients and referral partners know the next steps at every stage. CRM Utilization: Automate and track tasks to ensure no client falls through the cracks. 💡 “An inconsistent process leads to inconsistent results.” – Craig Vetter Bonus: How Brokers Can Improve Conversion & Client Retention Craig introduced a powerful new software tool , TMS , designed to help brokers analyze refinance opportunities, improve renewal retention, and convert more leads . One broker using this system found $8 million in mortgage opportunities in just two weeks. Why This Matters Now With over $300 billion in mortgages renewing over the next three years , brokers must shift from a rate-first mindset to a value-first approach . The most successful brokers will be those who: ✅ Take a consultative approach to renewals ✅ Proactively reach out to clients before their bank does ✅ Leverage technology to scale their follow-up and tracking A Better Way Exclusive Coaching Program To take these principles further, Craig is partnering with A Better Way Mortgage Group to launch an exclusive 8-month coaching program for 12 brokers looking to scale their businesses. The program includes: Two 90-minute group coaching calls per month Hands-on strategies for consistency, tracking, and process optimization TMS implementation for better client conversion and retention 📢 Spots are limited—reach out to learn more!

2/4/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

1/28/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

Mortgage Logic News with Rob McLister Guest: Rob McLister, Founder of Mortgage Logic News Hosts: Dean Lawton and Deryk Williamson Key Topics Discussed: Introduction to Mortgage Logic News Rob McLister's journey in the mortgage industry, starting with Canadian Mortgage Trends in 2006. Mortgage Logic News was created to provide actionable insights for mortgage professionals with a subscription-based model to ensure exclusivity and value. The Value of Mortgage Logic News A Better Way Mortgage Group and its agents rely heavily on Mortgage Logic News for market insights, strategic decision-making, and client communications. It provides unbiased content, helping brokers position themselves as trusted advisors. The platform offers tools like the Amortization Simulator and Mortgage Command Center , which help brokers provide data-driven advice to clients. Current Trends in the Mortgage Industry Intensified Competition: Banks are offering unprecedented uninsured pricing to cross-sell products, making it harder for brokers to compete. Non-Prime Lending Growth: Increased regulatory pressure is pushing borrowers into alternative lending options. Reverse Mortgages: Growing demand due to aging demographics and high home equity among seniors. Importance of Being Informed: Brokers must stay on top of market data to differentiate themselves and educate their clients. Challenges for Brokers in 2025 Increased competition from banks, with major institutions offering aggressive pricing and leveraging cross-selling strategies. Brokers need to focus on niches like Alt-A, B, and reverse mortgages to stand out and remain competitive. Emphasizing personalized service and value-added insights to compete beyond just rate offerings. Strategic Advice for Brokers Leverage historical data to anticipate market shifts and guide clients effectively. Communicate consistently with referral partners and clients using high-value content rather than generic CRM messaging. Utilize tools and actionable strategies to provide clients with a clearer understanding of rate trends and mortgage options. Future Outlook and Open Banking Open banking could level the playing field by forcing banks to compete more aggressively on deposit rates, potentially benefiting smaller lenders. The industry will likely see further rate competition, with brokers needing to adapt their sales approach accordingly. Tactical Tips for Brokers Use video content and personal interactions to enhance client relationships (e.g., BombBomb for video emails). Build authority by consistently sharing market updates and insights. Educate clients on risk management and term selection to provide differentiated value beyond interest rates. Closing Thoughts and Call to Action Brokers are encouraged to subscribe to Mortgage Logic News for insights, strategies, and tools to help grow their business. Mortgage professionals should position themselves as educators and thought leaders in the industry. Key Takeaways for Brokers: Stay informed with unbiased market analysis to position yourself as a trusted expert. Focus on niches like non-prime and reverse mortgages to stay competitive. Use strategic tools to help clients understand their mortgage choices and the long-term impact of rate changes. Leverage technology such as video communication to build stronger client relationships.

1/21/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

1/14/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

 Behind the Broker - Unlocking Success with Insights from Lena Larsen In the latest episode of The Mortgage Broker Podcast , we had the privilege of diving deep into the inspiring journey of Lena Larsen, one of the top-performing agents with A Better Way Mortgage Group. Lena’s story, spanning over 20 years in the mortgage industry, is not only a testament to her determination but also a masterclass in growth, consistency, and adapting to change. Here are the key takeaways that every mortgage professional can learn from Lena’s experiences. From Russia to Real Estate Success Lena’s journey began in Russia, where she completed a law degree before immigrating to Canada. Upon realizing that a legal career would require starting over, Lena pivoted to mortgages, inspired by her firsthand experiences buying a home. Her early days in the industry were challenging—navigating steep learning curves and building her expertise from scratch. Through perseverance and mentorship, she established a solid foundation, underscoring the importance of resilience and continuous learning in career transformation. The Power of Coaching and Accountability A significant turning point in Lena’s career was her decision to join a coaching program, which provided the structure and accountability needed to scale her business. Results Speak Volumes : Before joining The CORE Training , Lena closed $15 million annually. In her first year of coaching, her volume grew to $25 million, eventually reaching $40 million in 2024. Systems Matter : Tools like the Greatness Tracker helped Lena maintain consistency, ensuring regular outreach to referral partners, clients, and new prospects. Delegation and Focus : Hiring an assistant allowed Lena to focus on growth-oriented tasks, improving efficiency and reducing burnout. Staying Ahead in an Ever-Changing Industry Lena emphasized the importance of staying informed and engaged: Regular Training : Weekly lender calls hosted by A Better Way Mortgage Group have helped Lena explore new opportunities and stay ahead of industry trends. Leveraging Technology : Tools like Loom for video updates and the Canadian Mortgage App for client education have been game-changers, saving time while enhancing client experiences. Strategic Pre-Approvals : Lena now insists on pre-approval meetings to educate clients, streamline processes, and reduce last-minute questions. Work-Life Balance as a Key to Sustainability Despite her impressive achievements, Lena prioritizes her family, crafting a schedule that balances professional success with personal fulfillment. Time Blocking : Starting her day at 5 AM and wrapping up by 4:30 PM allows Lena to stay productive without compromising family time. Protected Time : Friday evenings and weekends are reserved for family, a discipline that keeps her grounded. Lena’s Advice to New Brokers When asked what she would do differently, Lena highlighted the importance of early adoption of tools like CRMs and maintaining strong relationships with clients and referral partners. Her advice: Master the Basics : Deepen your knowledge of lender products and policies to ensure efficiency and accuracy. Think Long-Term : Build relationships and maintain a consistent follow-up strategy to create a sustainable business. Be Adaptable : Continuously learn, automate where possible, and embrace technology to scale effectively. Looking Ahead Lena’s goal for 2025 is to grow her business by 20% while improving automation and client communication through her CRM. With a focus on sustainable growth, she exemplifies the mindset needed to thrive in a competitive industry. Listen Now For more actionable insights and inspiration, tune into Lena’s full interview on The Mortgage Broker Podcast . Whether you're a new broker or a seasoned professional, Lena’s story offers valuable lessons on how to succeed in today’s ever-evolving mortgage landscape. 🔗 Subscribe and Review : Don’t forget to subscribe to the podcast on Spotify, Apple Podcasts, or YouTube. Your feedback helps us continue delivering top-tier content. 🌟 Support Backpack Buddies : Join us in making a difference by supporting this incredible charity. With just $20, you can help provide meals to children in need. Lena’s story is a reminder that with the right mindset, tools, and support, success is not just achievable but sustainable. Start implementing her strategies today, and watch your business transform!