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CMP Top 50 Brokers of 2010

Each year CMP top 50 2011 Canadian Mortgage Professional (CMP) magazine lists the Top 50 brokers by volume.

The list is based on voluntary submissions, which excludes numerous mega-producers (thus creating a heated debate among agents). Nonetheless, it’s an intriguing sampling of top talent in our field.

This year, CMP’s top five brokers all surpassed $100 million in deals, with the top three closing more than $200 million. The list was headed by industry veteran Gord Pipkey of VERICO Mortgage Services in Richmond, B.C.

The top 50 really upped their game last year. Here’s a look at some key stats, versus last year’s list…

CMP’s top five brokers of 2010 were:

  1. Gord Pipkey (VERICO Mortgage Services, Richmond, B.C.) $263 million funded
  2. Dan Eisner (True North Mortgage, Calgary AB) $255 million funded
  3. Jim Touloukis (Advent Mortgages, Unionville, ON) $213 million funded
  4. Calum Ross (Mortgage Professionals Inc., Toronto, ON) $170 million funded
  5. Collin Bruce (Dominion Lending Centres Mortgage Mentors, Edmonton, AB) $137 million funded

Production was up notably in 2010. The top 50 brokers averaged 23 closings per month last year, or $6.7 million worth. That compares to 19 deals per month in 2009, or $4.9 million.

In total, the average annual volume among the top 50 was almost $80 million, catapulting past the $59 million average volume the year before.

The minimum monthly volume was also up in 2010. To breach the top 50 list, you would have had to have an average volume of $3.5 million a month (over $41 million a year). In 2009, you could have made the list with $2.5 million in monthly volume.

A side note to consumers: Despite the impressive volumes of the top 50, it’s worth noting that smaller brokers often provide exceptional service in their own right—some might even argue that their service is more personalized. On the other hand, it’s impossible to generalize and one thing is sure: You don’t generate $40+ million in volume by providing anything other than exceptional service.

CMP’s rankings are also affected by geography. At least 70% of participating brokers worked in major metropolitan areas, which makes it easier to put up big numbers.

For reference, here is last year’s 2009 Top 50 Broker List.

Steve Huebl & Rob McLister, CMT