Earlier today, a press release was issued announcing the launch of the Mortgage Awards of Excellence, a new industry-driven event taking place on May 3, 2018.

There are a number of  different events that recognize and celebrate excellence in the industry so some may be asking the question: Why create a new one?

To answer this question, we reached out to Albert Collu, Chair of Mortgage Awards of Excellence, to gain insight into the creation of the awards and to understand how the members of the Awards Committee were selected.

 

What prompted the creation of this new night of celebration, and why another awards show for the mortgage industry?

Great question. Currently, there are iterations of industry awards such as  association awards or third-party events. Recently, there was a loud industry call to organize an awards ceremony which is brought to the industry by the industry, and one that was non-partisan. As such the Mortgage Awards of Excellence was created.

How did the idea of the Mortgage Awards of Excellence come about?

The idea has been percolating for a number of years now but the demand has been very pronounced over the past year or so. There was much discussion among industry stakeholders (lenders, brokers, insurers, technology providers, associations and the like) to take the idea and make it a reality. I was asked by various industry participants to lead the initiative and very humbled to do so.

Who was invited to be on the awards committee, and how were they selected?

As Chair of the Mortgage Awards of Excellence, I felt it was very important that the initiative be represented by a cross section of various individuals representing the diverse roles and organizations within our industry. As such, I targeted lenders, mortgage insurers, technology organizations, mortgage organizations (franchisors, brokerages, networks, etc.), industry associations, and special interest groups (I.e. WIMI, I Love Mortgage Brokering) which manifested into a committee of 20 people and organizations.

The real testament of the demand is how broad the committee is and how well represented the industry is. There truly was no convincing required for reasons aforementioned. It was quite overwhelming to see how quickly all these individuals wanted to jump on board for what they deemed as “the right thing to do for the industry”. The press release committee members clearly demonstrate the breadth of industry leaders that are empowering this initiative though their time and support, something that should be applauded because they have all set aside the day-to-day competitive forces to do right by the industry.

With so much change occurring within our industry, this is a wonderful initiative to band together for a very positive cause and who knows…perhaps it will demonstrate that we are all capable of doing great things as a collective group for the betterment of Canada’s mortgage industry.

 

More details are to be released in the coming weeks, all of which can be found at the awards official website at www.mortgageawards.org.