25 years of originating mortgages! It really is a good time for reflection. When I first started out, I didn’t know anything about mortgages, except that I had one and that my husband and I had to be sure we could make our payments – I shall digress briefly and tell you that we barely got approved for our first mortgage due to our incomes being so low! But we were persistent and with good credit our “exception to qualifying ratios” was approved.
In 1991, mortgage approvals were carried out very differently. I had my own lending limit which meant I could meet the client on a Tuesday night, run their credit check, look over their employment documentation and tell them they were approved just subject to a review of the property. Today, it’s a much lengthier process requiring at least one, if not two, adjudicators involved in signing off the mortgage request.
The greatest thing about having been fortunate enough to survive in the mortgage business for 25 years is the people I have met along the way. My clients are outstanding, wonderful people. They are focused, easy to work with and I applaud their efforts to own their space in this city! Many of my clients have ventured out of the Lower Mainland to other areas of the province or Canada, and I am still in touch and still assisting them with their mortgage inquiries – these are long term relationships which I will continue to treasure.
I look forward to assisting both new and longstanding clients with the challenges ahead, such as navigating the new mortgage rules that came into effect October 17th. I can honestly say that the mortgage business never gets old! The Bank of Canada and the provincial and federal governments have ensured that there will always be something new to learn! But the best part of being a broker? I can always find a home for what my clients need!
Thank you for your support, and cheers to more years of mortgage originating!