Mortgage Architects, a national brokerage focused on mortgage planning, is launching a new franchise model, effective June 1.
To date, Mortgage Architects (MA) has operated as a full-service corporate-style mortgage brokerage.
President & CEO Bob Ord says, "We recognize the market has changed and that some top-performing brokers want to own and run their own businesses while still accessing a myriad of services that will help them efficiently run and grow their volumes.”
“Our goal is to provide franchise owners vision and leadership along with the best and most comprehensive self-serve e-business solutions in the industry."
MA says its new “Franchise Plus” option will be the only mortgage franchise in Canada to provide payroll and paperless compliance services. Franchise brokers will also have access to:
MA’s Franchise Plus owners will require their own broker license and need to sign a 5-year contract. There is also a 3-year contract option with a higher payout for those who don’t require payroll and compliance.
In addition to franchising, MA will retain its full-service broker model. That program entails a slightly higher split but includes:
Use of corporate branding
Licensing under the corporate brokerage (depending on province)
Advanced product support
Additional mortgage planning tools, including MA’s new “Client Monitor” program
A stock option program
Business and team recruiting
MA also offers a successful “Streaming” desk whereby brokers get access to preferred rates at major lenders via MA’s centralized underwriting service. A broker’s volume in this program counts towards that individual’s own lender status levels.
Since its inception, MA has focused on recruiting only experienced brokers who produce over $25 million a year in volume. It will continue that tradition under these new programs.