While Canada's ubiquitous "Big Banks" dominate many aspects of consumer financial services in our country, mortgage brokers have done an impressive job of establishing themselves as a viable alternative. It wasn't that long ago when mortgage brokers were commonly viewed as the choice of last resort, but today they control 28% of the mortgage market (source: CAAMP "Annual State of Residential Mortgage Market in Canada", Nov. 2013).
Benesure Canada Inc. first provided products and services tailored for the mortgage broker channel in 1990. And, while administering Mortgage Protection Plan ultimately became one of our most successful ventures, even we weren't sure if this whole "mortgage broker idea" would ever take off. Luckily, we took a wise leap of faith and our heavy investment in the opportunity has paid off handsomely.
Today, our Plan Administration services are available to clients of nearly 10,000 mortgage professionals across the country. Insurance sales services are provided by Credit Security Insurance Agency Inc., and a variety of services to support mortgage brokers in offering Mortgage Protection Plan, such as SafetyCatch and the Mortgage Brokers, Insurance and the Law publication are provided by Broker Support Centre Inc.