Our guest this week is Ron Butler, one of the most well-known brokers online. Ron addresses the recent mortgage rule changes, and the number one threat to the mortgage industry as a whole. How do these issues affect brokers? What steps can we take? What do we do to move forward? This is one episode you do not want to miss.
Ron is a past guest of ILMB, and you can find his previous episode here.
- 20 years in the industry
- Toronto, ON
- Butler Mortgage
- The only thing that’s going to work is political action.
- Every broker in Canada needs to know about this.
- Stand up, speak out, and make yourself known.
- That’s a bunch of wheat grass drinking, yoga posing, low carb eating, going to run a half marathon next week, BS.
- [4:31] How will the mortgage rule changes affect brokers across the country?
- [5:36] What are the immediate implications of these changes?
- [6:15] Consumers are likely to start thinking that working with a bank might be simpler than partnering with a broker.
- [8:01] We need to ask the right questions.
- [8:38] What can we do, as brokers, to counter this issues?
- [11:35] Have you noticed that gas stations always seem to change prices at the same time? H0w is that linked to the current state of the mortgage market?
- [14:08] What practical steps do we need to take?
- [19:30] These changes impact brokers significantly more than they affect the banks.
- [22:21] How have these changes affected your business?
- [24:51] What would you say to the people running the association?
- [26:58] What kinds of conversations have you had with people about this issue?
- [27:57] Brokers are the little guys.
- [29:53] Have you considered being a part of these associations?
- [34:40] This is the most important thing to know about this entire issue.