Mortgage Outlet Inc. is currently recruiting experienced and newly licensed mortgage agents and brokers.

Careers

If you are a hard working, highly motivated, self-disciplined individual looking to work in an environment with caring leadership, one of the industry’s best commission structure and commission programs, top tier mortgage rates from Canada’s leading mortgage lenders and banks, along with many other perks, then Mortgage Outlet would like to hear from you.

Top 13 Reasons to Join Mortgage Outlet

 

 

Selecting a brokerage is an important decision.  Thank you for considering Mortgage Outlet.

  • Good news and bad news – Being a mortgage agent is a commission-based role
  • You must be licensed to conduct business as a mortgage agent/broker
  • Check out Remic.ca for more information on the mortgage course and writing your exam

Please read the IMPORTANT information below carefully to learn more about us and our work style

 

  1. We’re one of the Top 75 Mortgage Brokerages in Canada – and we have won many industry awards
  • Mortgage Awards of Excellence
  • Canadian Mortgage Awards
  • Top Workplace
  • Top Independent Brokerage
  • We are often quoted in the media (eg. Globe and Mail, CTV News, CP24, CBC) and are even paid by real estate brokerages (eg. Toronto Regional Real Estate Board, Oakville/Durham/Brampton Real Estate Boards) to give mortgage seminars to Realtors
  • As a top brokerage, we have access to better rates and commissions than that of other brokerages
  • It also means we have access to lenders that others may not – and this is becoming a critical competitive advantage, given all the new mortgage regulations (eg. Credit unions, luxury property lenders, etc.)
  • We have top Google and Facebook reviews, which further helps you build your conversion – you would be amazed how many clients read this!
  • Our reputation means you have immediate credibility with your clients

  1. TRAINING! TRAINING! TRAINING! We have a proprietary, three-pronged approach to ***TRAINING***  
  • A customized welcome package with LOTS of information to read and videos to watch – this will help you to start out your career.  This will show you how to complete a mortgage application, mortgage documents required, rates, sales training and more
  • One or two weekly lender meetings via Zoom to learn about new mortgage products and to stay up-to-date – they are recorded in case you cannot attend
  • Three weekly underwriting meetings via Zoom to train you on this important aspect of brokering
  • Most important – we help you with each and every file.  You work directly with our Director of Training.  Which lender is best for my client? Fixed or variable? Which documents? How much is the compensation? Can I get an exception? We are basically like personal trainers and work with you closely for every client that you have.  This also includes business planning to help you succeed

  1. We don’t nickel-and-dime our agents with fees
  • No marketing fees or franchise fees
  • No monthly fees or desk fees
  • No “exit” fees to leave and we don’t require a one-year commitment
  • No ongoing repetitive costs (Just pay FSCO and E&O insurance)

  1. ACTIVE BROKER OWNERS – Our brokers and team leaders are not “semi-retired”
  • We’ve heard from our new recruits that they could never get a hold of their broker, because their broker was always golfing, in Florida, etc. 
  • Speed matters – and we’re available when you need us – evenings and weekends included
  • Don’t lose your clients when they become impatient with a slow response and walk into their branch
  • The two founders, Shawn and Elan, are friends since high school – this speaks to the importance of loyalty and long-term relationships

  1. Because of our volume, we have dedicated lender underwriters, top tier status and access to MANY lenders
    • Often, we receive a purchase agreement from the Realtor at 10pm and because the file was already pre-approved and underwritten by us, we simply enter the purchase price/closing date/address and submit – and frequently, we receive a commitment by the next MORNING! This really “WOWs” your Realtors and clients, helping you get more referrals
    • We have lenders that many others do not have – helping you to get more approvals and win clients
    • We have dedicated lender underwriters directly are assigned to Mortgage Outlet – for faster serviceBecause of our volume, we have dedicated lender underwriters, top tier status and access to MANY lenders 
  1. We are licensed in BC, AB, ON, QC and can lend across Canada
    • This can help you generate more business
     
  1. We don’t “hide” commissions from you
    • Lenders provide a finder’s fee and “volume rebate” (VR) AND other “bonus commissions”
    • Some brokerages don’t tell their agents about these VR’s
    • We DO give these to you!
     
  1. We can help to fund any deal
  • Residential, commercial, land, construction, damaged credit, new-to-Canada, private lending, second and third mortgages, borrowed down payments, golf courses, luxury properties, fast closings & more!
  • This will help you earn more money!
 
  1. We have a stellar reputation in the industry
  • We are outstanding underwriters – our lenders reward us with fast turnaround times & ratio exceptions 
  • Similar to a doctor, architect, and accountant – we are professionals and take our craft seriously
  • We are mortgage professionals and our leaders are ACTIVE in the industry – meaning we have extensive experience with clients, lenders, policies, exceptions.  We LOVE what we do!
 
  1. We have a program suitable for part-time and new mortgage agents
  • This includes access to brokers/underwriters in the evening
  • Training is on Zoom and is also recorded
  • Our co-founders started their careers as part-timers and built their business to go to full-time
 
  1. We give you the freedom to run your business as you desire, but we also provide the support you want
  • Of course, everything needs to be legal, ethical and proper
 
  1. We offer a complementary CRM program (designed specifically for brokers) 
    • Automatically send your clients a happy birthday message, and a mortgage anniversary message so that they always remember you are their mortgage agent/broke
    • CRM reminds you of upcoming mortgage renewals
    • CRM includes monthly newsletters to help you stay connected with your clients
    • CRM updates Realtors and lawyers to “wow” them and grow them into referral partners (eg. updating the Realtor that the appraisal was booked, etc)
     
  1. We want to grow with you
  • If you are currently a bank specialist – how do you transition to mortgage brokering?
  • Should you incorporate? (Our co-founder, Shawn, is a CA/CPA and he loves to help people reduce taxes!)
  • Our goal is to help you become empowered to learn, grow, help people, have fun & make money
 
 
 
 

OTHER INFORMATION

Commission Split (For new agents):

 

-50/50 for the first 10 files;   65/35 for the next 10 files;  80/20 afterwards

-After you complete 20 files, you are expected to be independent, but you can continue to attending training

-After your 20th file, our underwriting/fulfillment team would be $500 per file (you only pay for funded files)

-No monthly payments and no minimums

 

Costs to join:

-FSRA (The regulator) is approx $900 per year, prorated to March 31

-E&O insurance is approximately $505 per year, prorated to June 30

-Sign-up fee of $250 for the background check and enrollment process (email accounts, website updates, etc)

-Credit bureaus & Purviews are approx $9 each, (this is our cost).  You only pay for this when you use them.

 

Marketing and getting clients:

-We do not provide leads as we have found that new agents do not follow up and the lead becomes cold

-We do not recommend marketing as it usually wastes a lot of your money

-We recommend business planning, networking and using your strengths to build your client list

Questions? Ready to join?   Email us a resume, your ID and proof of exam at: [email protected]