Value Connect is pleased to announce we've been adding MIC (Mortgage Investment Company) customers across Canada. Our two most recent additions include RiverRock and Westboro.

With the number of people experiencing employment challenges, including reduced hours, there will be an even greater demand for alternative mortgage products in 2023 compared to 2022. Mortgage investment companies like RiverRock, Fisgard, Neighbourhood Holdings, and Westboro have products to suite your borrower's unique situations. We strongly recommend you investigate their mortgage options. Let's look at why it's important to learn a little about "B" business. 

Simply put, as a mortgage broker, it's expected that you can arrange mortgages for all types of situations. Your customers and referral sources count on you to help no matter what the borrower's employment and credit situation. Sometimes that means coaching a client on how to improve their situation so they can get approved, and in other cases it means arranged a private mortgage to help someone get out of a tough spot.

When you simply turn this business away there's a risk that the borrower goes elsewhere and gets approved. This can hurt your reputation as someone who "gets things done." And while you may not want to work on private mortgages, you can certainly work with mortgage investment companies who have similar standards to "private lending" and all the support a lender needs to chase down borrowers for non-payment.

Companies like RiverRock & Westboro tend to have better rates than going direct to private lenders. That's not always the case but in general, it's true. My recommendation is to find your key lenders in each of these three mortgage tiers:

• AAA - have 2-3 lenders who offer the best rates and lend to borrowers with best credit and income histories. Lenders like First National, RMG, and CMLS;
• B - have 2-3 lenders who offer fair rates to borrowers with bruised credit or difficulty proving income in conventional methods. Lenders like Home Trust, Haventree Bank, Wealth One Bank of Canada, and Community Trust;
• MIC - have 2-3 lenders who offer mortgages to borrowers with bad credit or income stability. Lenders like RiverRock, Westboro, and Fisgard offer better rates than private money and a good alternative for brokers needing to get their deals completed.

Having solid relationships with a pool of 9 lenders in those three tiers of the lending space will allow you to fund a large % of the opportunities you receive. As a broker, you're like the captain of the team in the eyes of your borrower. Whether they're able to get a mortgage at any lender they want, or with a select few, you'll want to present them their options for getting a mortgage and how to improve their situation if necessary.

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Ever had an appraisal request through one of the other appraisal networks come back to you a few days later with a request for more money after you told your client the cost? Maybe you've had a report come in late or one that was done by an out-of-town appraiser, resulting in unhappy clients or lower quality reports. Value Connect's money-back guarantee gives you the peace of mind that none of those things will happen.

Find out why so many mortgage lenders and specialists are making the switch to Value Connect. Order a report here. Contact Value Connect toll-free at 844-383-2473 x4256 or info@valueconnect.ca for more details and to get a copy of our approved lender list! 

Brokers, Lenders and Appraisers can learn more about Value Connect at www.valueconnect.ca