As we close out another remarkable year, we want to take a moment to express our gratitude to you—our valued partners—for your continued trust and collaboration. Your support has been instrumental in driving progress and achieving meaningful milestones throughout 2024.
To thank you for your partnership and recognize our shared commitment to building stronger communities, we’ve donated 50,000 meals to Feed Ontario. This donation supports their important work fighting food insecurity and helps to bring help and hope to those in need this holiday season.
Looking Back: The Year in Review
This year marked a period of significant shifts and opportunities within Canada’s real estate and mortgage markets. The Bank of Canada made material progress in curbing inflation, creating conditions for a gradual reduction in interest rates. This easing offered, and continues to offer, some relief to borrowers facing the so-called “renewal cliff” of higher mortgage payments—a challenge analysts predict will remain a headwind but avoid escalating into a broader crisis.
Alongside these economic shifts, regulatory and policy developments also took centre stage this year. The introduction of new anti-money laundering (AML) guidelines increased compliance obligations for mortgage professionals, while a series of federal mortgage rule changes were implemented to address ongoing housing affordability challenges.
Against this backdrop, private mortgage lenders have become an increasingly vital component of the market, with CMHC estimating their market share at 10%-12%—a significant rise from 5.3% in 2021. This growth underscores the sector’s essential function in bridging the gap between borrowers seeking flexible financing solutions and investors looking to strategically diversify their portfolios. This dynamic injects vital liquidity into the real estate market, fostering a mutually beneficial ecosystem.
These defining trends shaped 2024 as a year of adaptation, growth, and resilience for all stakeholders in the mortgage industry.
Partnering for Growth: Delivering the CMI Difference
This year, CMI surpassed $1 billion in mortgage assets under management, a testament to the strength of our partnerships and the growing demand for innovative mortgage lending and investment solutions. We also celebrated being recognized for the fifth consecutive year on The Globe and Mail’s Report on Business ranking of Canada’s Top Growing Companies, placing 119th out of 416 firms.
Our reach expanded as we continued growing across Canada, explored opportunities in the US, and began evaluating global markets. These advancements position us to better meet diverse needs, from enabling Canadian borrowers to access flexible financing, to offering innovative investment opportunities for individual investors, and providing scalable private mortgage solutions to institutional partners.
Throughout the year, we focused on enhancing your experience by delivering insights and resources tailored to the evolving market landscape. Our Market Monitor and Housing Affordability Watch provided actionable analysis, equipping you to navigate economic shifts and remain informed on critical industry and market developments.
We also prepared for significant regulatory changes, taking proactive steps to refine compliance and streamline reporting. Our aim has been to shoulder the complexities of these changes, so you can continue to enjoy a seamless experience and transact with confidence, knowing CMI has your back.
Our commitment to excellence was recognized on a global scale this year, with CMI named to the Mortgage Global 100 for its industry leadership and impact. While this distinction included a personal accolade for me as CEO, it is truly a reflection of the collective efforts of our exceptional team and the trust and collaboration of valued partners like you. This recognition inspires us to continue innovating and delivering the service and solutions that define the CMI Difference.
Championing Our Industry
In 2024, we collaborated on consumer protection, innovation, regulatory efficiency initiatives in the private lending space, through participation in the Financial Services Regulatory Authority of Ontario (FSRA-ON) Mortgage Brokering Technical Advisory Committee. We also made meaningful industry contributions through co-chairing the Canadian Lending Association’s Diversity, Equity and Inclusion Roundtable, and advocating for mental health and gender equality in the workplace.
Uplifting Our Communities
At CMI, we believe that as community builders, we have a deep responsibility to give back. This year, we supported vital causes through direct contributions to organizations including Bell Let’s Talk and Hockey Helps the Homeless, and through our annual broker donation campaign benefitting SickKids Foundation, Ernestine’s Women’s Shelter, the Donna Squire International Nursing Legacy Foundation.
Supporting You Over the Holidays
To continue serving you with the commitment and dedication you’ve come to expect, CMI will remain open throughout the holidays, closing only on Christmas Day, Boxing Day, and New Year’s Day to observe these important occasions. Apart from these dates, it will be business as usual across all our operations. We’re here to ensure you have the resources and support you need, when you need them.
A Grateful Thank You
Your loyalty and partnership fuel our mission to empower Canadians through accessible, flexible and innovative mortgage lending and investment solutions. We deeply value your role in our journey and look forward to achieving even greater success together in the year ahead.
Wishing you a joyful holiday season and a happy, healthy new year!
Sincerely,
Bryan Jaskolka
CEO, CMI Financial Group