Canadian Mortgage News

June 2010 National News Archive

CanEquity Announces Independence

Canadian brokerage opts to stand unaffiliated to maintain its unique standard of service

CALGARY, Alberta, June 30, 2010 — While nearly 95 per cent of all mortgage brokerages across Canada remain partnered with a lending network or institution, CanEquity has chosen to break from the mold and stand independent, in action to maintain its ability to offer superior service to the Canadian clientele.

Attaching to an affiliate network has become an attractive stratagem for brokers over the last five years, allowing them to pool volume in order to appeal to larger, higher paying lending bodies. This, in turn, means operating under these lenders’ guidelines. The aggregation model equates less work for the broker with no guarantee of any added value to the consumer.

CanEquity believes this to be in direct contradiction with the cardinal brokerage mandate: to act as an agent – be that for the negotiation of contract, purchase or sale – on the behalf, and solely in the best interest of, the client.

“When a brokerage can no longer compete, their two foremost options are to shut down or to amalgamate with an aggregator that can either help keep them competitive or keep them out of the red,” says Anthony De Almeida, CEO of CanEquity Mortgage and Financial. “The big banks of Canada have a limiting control over what is being offered to their clientele. Working with an independent brokerage in the mortgage marketplace is more important than the consumer may realize.”

CanEquity will continue to remain independent and fully committed to offering rates, products and new services that are of true value to the Canadian consumer, unaffected by ties to larger bodies.

“We provide access to every mortgage product to every Canadian,” De Almeida states.

Visit www.canequity.com for the best mortgage rates and products available in Canada.

News source: The Canadian Equity Group (CEG)