Mortgage Professionals Canada Gets New CEO

Paul Taylor HeadshotAfter a 5-month search and a laborious selection process, Canada’s largest mortgage association finally has a new executive leader.

Mortgage Professionals Canada announced today that, effective Monday, Paul Taylor will be its new CEO.

Taylor, 40, comes with ample organization experience. He was formerly the Director of Operations for the Insurance Brokers Association of Ontario (IBAO) for 5+ years, and in the association’s management for five years before that. Coincidentally, IBAO is the same group that former CAAMP CEO Jim Murphy moved to last July.

We had a chat with Paul to get his take on some important issues that Mortgage Professionals Canada members are pondering these days. He graciously agreed, and here is that interview:


CMT: We appreciate your thoughts on these topics, Paul—especially since you’re not officially in the saddle just yet. Let’s start with an “easy” one. What do you feel are the top two or three issues Mortgage Professionals Canada needs to address for its members?

Paul: Our two main priorities at Mortgage Professionals Canada revolve around public relations and government relations. On the consumer-awareness front, our new revitalized Mortgage Professionals Canada brand offers more opportunities than ever before for us to proactively reach out to Canadian consumers and explain the value of using a mortgage broker. In 2014 our Value of a Mortgage Broker Consumer-Awareness Campaign made more than 14 million viewer impressions via online, digital, mobile, social media and print mediums, both nationally and locally. I will be connecting with the media and helping generate articles to put the spotlight on our industry so we can continually demonstrate our value.

When it comes to government relations it’s more important than ever to ensure we’re representing members’ needs, with both the provincial and federal governments and with regulators, in order to continue providing Canadians with access to choice, advice and affordable financing options throughout the mortgage process.


CMT: OK. Any idea how long it might take to see further meaningful progress on these issues?

Paul: These two key objectives at Mortgage Professionals Canada are ever-evolving. A lot of meaningful progress has been made over the past year, prior to my arrival, with such things as the launch of our new brand, the consumer-awareness campaign and our involvement in government issues like B.C.’s disclosure rule change discussions. Federally, the board and staff at Mortgage Professionals Canada have already started our work with the new government. We look forward to continued cooperation in Ottawa, and to ensuring that the importance of the broker channel and the mortgage industry remain at the forefront.

We will continue to create/evolve programs and lead discussions to better our industry and educate consumers.


CMT: What elements of your insurance association experience can you leverage to help Mortgage Professionals Canada further its goals?

Paul: The pillars of the respective associations’ goals are essentially the same: Provide advocacy for the membership to government, regulators and consumers; develop and provide meaningful education to members and promote overall professionalism of the industry; and continue to ensure value of membership to attract new, and retain existing, members. Throughout the 10 years I worked at IBAO, I spent time in roles managing education, developing and implementing member services offerings to improve membership value, and coordinated and delivered messaging to governments and regulators to promote changes in regulations for the benefit of brokers and their consumers. Mortgage Professionals Canada has a great team of professional association staff already in place who are skilled in their respective roles. My experience will hopefully help the team work together to elevate the existing membership offering in these three key areas.


CMT: How has online technology changed the insurance business–e.g., Has technology created disintermediation or compensation/margin compression in the insurance market? Do you see any parallels or key differences with the mortgage business? 

Paul: Insurance brokers, much like mortgage brokers, are entrepreneurial in nature. They are also the sales force of the insurers they represent. Many of the brokers themselves are champions of technology and are innovating daily to capture consumers who may desire a non-traditional purchasing experience, either through web or mobile technology, or through social media and targeted niche purchase groups. Technology is not in of itself a threat or a creator of disintermediation, but brokers do need to experiment with various marketing and sales practices that are non-traditional if they don’t wish to be left behind. Brokers are just as capable of owning space in these areas as insurers, lenders and banks, and, in most cases, they’re better suited to that space and role as the sales presence.

There are more similarities than differences. The nature of the independent advice mortgage brokers provide as part of their overall service is a key differentiator that needs to be vehemently promoted to consumers regardless of the technology involved in a sales or service model. The basic value proposition of the broker needs to remain forefront regardless of any technology implemented to improve a consumer’s overall experience.


CMT: True enough. Last question: How closely do you think provincial broker associations and Mortgage Professionals Canada should work together? Or are they sufficiently productive working apart?

Paul: In December we were pleased to announce a formal partnership with the Alberta Mortgage Brokers Association (AMBA) in order to work together to streamline events and collaborate in other areas. This is definitely a step in the right direction. All members benefit when industry associations collaborate and we will continue to explore any opportunity that creates greater efficiencies for the industry.


CMT: Thank you Paul.


  1. I am sure Mr. Taylor is a wonderful individual, highly accomplished and possessed of great ability but the question must be asked: not one applicant from inside of our vibrant industry could fill the bill? Not one single applicant from our business who was familiar with all the players, understood the jargon, knew the ins and outs of broker world was a good fit? There was not one single internal candidate who was already was familiar with all the issues could make the cut?

    I know what I will hear: the Board did massive research, hired a consultant (more of our money disintegrated), weighed every option and reached a brilliant decision. Yada, Yada.

    Just like the “brilliant decision” to move the 2016 Mortgage Forum to Niagara Falls which lasted about 5 weeks until enough people told the Board they were nuts and they switched it back to Vancouver where it always should have been in the first place.

    Seriously, there has to be questions asked about the decision making and make-up of this Board. We need legitimate governance change: mortgage brokers make up 78% of the membership, why do they only make up 12% of the Board? Before you question the numbers, I do not count brokers who also work directly for networks as real brokers, they are not brokers they are network / super broker people. For the last 4 years up until this year Ontario had zero broker Board members now there is one.

    If this Board is wondering why CMBA came into existence they should think very carefully about the nature of their choices, why switch names? why switch conference venues? why can no one in the this huge, dynamic mortgage business be found to take on this role at this Association? There are a lot of questions to be asked but there will never be anything but blather as an answer, never will you hear: yeah, we need more brokers on the Board, we have to build it into the by-laws. This Board will NEVER say that, it will NEVER happen. When you hear the blather about “anyone can run” do not listen to that foolishness, when the President of a Lender or a particularly an officer of a broker network runs the whole lending operation or the whole network will vote for them. Individual brokers do not have a chance unless the by-laws are changed: the majority of the Board must be active brokers and the majority of members from each province must be day in, day out brokers with no positions in any networks or super broker. That is the only hope for change.

    I absolutely do wish Mr.Taylor well and I sincerely hope he enjoys a great career at whatever the Association calls itself that day (because in 6 years it will be something new) but what I would desperately like to see is real change,

  2. Ron,

    Your numbers are way off. 10 out of 17 board members are individual brokers or broker management who still do their own deals.

    I can’t even imagine where you got 12% from.


  3. Ron, I can tell you in fact that their were candidates from within the industry. Does that qualify them over and above Paul just because they are in the industry? I know the selection committee did approach many individuals within the industry, including yours truly, and many of the really good ones just declined the position for I’m sure very good reasons. Let’s give Paul the benefit of leading this association without him feeling he is already behind the 8 ball.

  4. Dave, if you choose to pretend people who have a brokerage license but work for the Head Offices of Networks and Super Brokers are mortgage brokers you are entitled to your fantasy. However all the associations members who’s only income is from the mortgages they close every day know that those people are not mortgage brokers.

    1. By my count there are seven brokers on the board whose primary income is brokering. Counting just those people confirms that your 12% number is totally made up.

      There are three others who manage brokerages and also broker.

      There are three others who only manage their brokerages.

      The four others are from lenders.

      Your misleading numbers speak to your credibility on this issue. Comments like that do nothing but insult those brokerage professionals who are working hard to improve our industry for the benefit of all agents.

      1. Dave, the fact that you will not give your full name gives you ZERO credibility. No matter what foolishness you say; real mortgage brokers know how to use Google: if a person is on the management staff of Verico or TMG or Mortgage Alliance or MA or, or, or, then that person is not a day in and day out mortgage broker. I think there are 6 full time full time day in day out mortgage brokers on the Board, so shoot me, not 12% that is 35% but in Ontario there is one out of 5 = 20% Looks like 12% was the previous Board. Why in the world can we not get over 50% of active mortgage brokers, why does not the Association mandate at least 65%?

        This is the key fact: the only people who can represent actual mortgage brokers ARE mortgage brokers, the lenders and the insurers deserve their seats at the table but at the end of the day the network and the super broker folks have their own set of interests they are paid by fees they charge brokers and lender overrides which is NOT how a mortgage broker is paid.

        I do NOT question the hard work and devotion that the Board members put into this work, I know many Board members personally, they are dedicated and give generously of their time but I pay dues just like every other member and I am allowed to criticize lack of good judgement and I am always going to press for governance changes that put real brokers in charge of the Board.

  5. I particularly enjoyed the questions about technology, specifically mobile technology. I agree that technology itself is not a threat as long as those organizations utilize it and take advantage of it’s revolutionary mechanisms to connect and support seamless business transactions. For instance, Uber didn’t kill the taxi business, it enhanced it with technology while the taxi business was too busy competing with one another. The bottom line is that people still need drivers to get them to places and now it’s all available in one place.

    I believe that brokers (in fact all entrepreneurs) need to differentiate themselves from large corporations who pour billions of dollars in technology. (The big 6 spent about $9 billion in 2014). I also believe the broker channel & lenders need to unite and invest in a mobile front to offer information and convenience to those who seek it. I am talking about millennials who use their favourite device over 150 times a day or the 24 millions Canadians that own smartphones.

    I welcome a discussion with Mortgage Professionals Canada on how we can leverage our technology to achieve this in the near future.

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