BMO expands home financing options for Canadians with launch of BrokerEdge(TM)
BMO is helping more Canadians achieve the dream of homeownership – and make real financial progress – with the upcoming launch of BMO BrokerEdgeTM, our new mortgage broker channel complementing BMO’s nationwide team of mortgage specialists. Now, Canadians who choose to work with a mortgage broker have another way to access BMO’s leading home financing solutions.
The launch comes at a time when Canadian homebuyers want more choice and flexibility when it comes to working with mortgage professionals. According to Canada Mortgage and Housing Corporation’s 2023 Mortgage Consumer Survey, 43 per cent of recent mortgage consumers relied on a mortgage broker to manage their mortgage negotiations, while 52 per cent worked directly with their bank or financial institution.1
“We are tremendously excited to return to the mortgage broker channel to offer brokers and customers a world-class experience. BMO’s ambition is to meet consumers wherever they are in their homebuying journey – and in whatever way they want us to – in order to help them make real financial progress.”
– Hassan Pirnia
Head, Home Financing and Personal Lending Products, BMO
BrokerEdgeTM will have a phased national rollout starting early 2024, featuring broker networks and technology partners from coast to coast. We will work with First National Financial LP to provide underwriting services for mortgages originated by BMO through our new BrokerEdgeTM channel.
“Today, consumers have more power and choice than ever before,” continued Hassan. “Just as preferences have changed around the homebuying and home financing journeys, Canada’s broker channel has also undergone a significant evolution, with increased scale and presence in the marketplace along with a commitment to enhancing customer service. We look forward to the launch of BMO BrokerEdgeTM and to continuing to drive customer choice in the broker space.”