Canada’s mortgage brokers are voicing concerns that negative press in the United States is hurting their business, and their reputations.

The findings are a result of a survey of over 500 Canadian mortgage brokers conducted by the Real Estate and Mortgage Institute of Canada Inc. (REMIC)

According to REMIC president Joseph White, Canadian mortgage brokers feel that they are being inaccurately tarnished by their American counterparts.

“Canadians have been inundated with stories of how mortgage brokers in the United States, due to questionable business practices, contributed to the American mortgage meltdown,” White says.

“Canadian mortgage brokers typically employ sound business practices, are highly regulated and ongoing surveys show that their customers exhibit high levels of customer satisfaction, a far different experience than what has been reported in the United States,” White explains.

“The survey further indicates that Canadian brokers want to see a more accurate reflection in Canadian media of the uniquely Canadian experience,” White concludes, “a reflection that has been overshadowed by the negative reports about their American counterparts.”

REMIC was founded in 2008 and provides education, training and resources to both the real estate and mortgage industries.

IE