By Kelly Neuber
MISSISSAUGA, ON - After conducting a successful five-month pilot, Invis and Mortgage Intelligence have put their unique and "wildly popular" Partner Mortgage on national rollout. The broker-built mortgage has been a runaway hit in the pilot program, and will be available across Canada by early summer.
"Our pilot for Partner Mortgage exceeded every expectation and did so in every measure," says Stan Falkowski, President of Invis-Mortgage Intelligence. "In the first few months and with a limited number of brokers on the pilot, we approved and committed close to $200 million in mortgage volume, which surpassed our commitment target by almost 200%. We were blown away."
"I think the success is due to the way this mortgage was designed. This isn't a white-label mortgage," says Falkowski. "Partner is not a copy of an existing lender's mortgage; it was developed for us and with our involvement."
Partner Mortgage has several key differentiators. The mortgage is designed to help Invis and Mortgage Intelligence brokers foster long-term relationships with their clients, paying an automatic fee at renewal. There is no retention team, and no control issues over ownership of the client. All brokers receive platinum rates from their first deal.
"Since this is our mortgage, we've worked hard to keep our rates highly competitive. We have no BDM sales team so we can keep overhead low and pass those savings on to our clients," says Falkowski. "When brokers found it tough competing against 2.99%, Partner was able to match that rate, and had all the frills."
Partner Mortgage offers a full spectrum of credit approvals.
"We're proud to offer our brokers a mortgage that differentiates them; it's a product all brokers need in today's rapidly evolving marketplace," says Falkowski. "We also remain deeply committed to supporting our key lender partners and our WealthLine white label mortgage. We value all of those relationships; they're all part of the comprehensive package we offer our brokers and their clients. Our job is to continuously pursue excellent options and the best range of choice."
Partner Mortgage is only available at Invis and Mortgage Intelligence.