As the year draws to a close, we reflect on the dynamic landscape that defined the mortgage industry in 2023. Amidst ongoing economic uncertainties, the year brought its share of obstacles and opportunities. Market volatility, shifting regulations, and evolving borrower needs shaped the terrain we treaded together. Despite the challenges, innovation and collaboration emerged as an antidote to uncertainty. In the end, the year was defined, not by headwinds and hardship, but by resilience and growth.
Celebrating partnership and perseverance
Together, we played a pivotal role in providing essential financing options for borrowers sidelined by rising rates, soaring inflation and increasingly strict lending guidelines. At the same time, our collaborative efforts to serve this ever-growing borrower segment unlocked alternative investment opportunities, offering valuable and compelling options in a landscape where conventional approaches have faltered.
In partnering to meet the need for private financing, we reached a key milestone this year: exceeding $2B in lifetime mortgage fundings. Behind every business milestone lies a tapestry of Canadian homeowners who found stability, regained their footing, and moved closer to their financial aspirations. Your collaboration and support have been integral to their success stories.
We deeply appreciate the confidence you have placed in us, choosing us as your preferred partner amidst a sea of options. Your partnership has been the cornerstone of our success, and for that, we are truly grateful.
Delivering the ‘CMI Difference’
Throughout the year, our focus remained steadfast on enhancing your CMI experience. We launched a weekly Market Monitor to keep you up to date on economic, financial and housing market news and, most recently, introduced a Housing Affordability Watch dedicated to examining potential solutions to the housing affordability crisis – one of the most pressing issues facing our industry and our country. We completed our website redevelopment project, launching a new site for our administrative division, CMI Mortgage Servicing, as well as a parent site for CMI Financial Group. We created a unified online experience across our businesses, making it easier for you to navigate our sites and access invaluable resources.
We continued to expand our partner network, fortifying our presence in key real estate markets across Canada. Welcoming new talent into our fold has enabled us to provide unparalleled expertise to meet the diverse needs of investors, brokers and their borrowers. Our commitment to education has been pivotal in fostering enhanced private lending expertise. We conducted seminars, workshops, and provided personalized support, empowering our partners with knowledge and tools for success.
We remain committed to elevating our services, offering innovative solutions, and continuing to be a valuable partner in your journey towards success.
Giving back to our industry and our communities
Across our team, we continued our work in support of diversity and inclusion through mentorship and engagement in myriad ways, both formal and informal. We made meaningful industry-level contributions through co-chairing the Canadian Lending Association’s Diversity, Equity and Inclusion Roundtable, and through ongoing mental health advocacy. We furthered our commitment to optimizing broker-lender partnership, particularly in the private lending space, through our participation in the FSRA’s (Financial Services Regulatory Authority of Ontario) Mortgage Brokering Technical Advisory Committee where we contributed to consumer protection, innovation and regulatory efficiency initiatives.
In our corporate philanthropy over the past year, we focused our support on organizations dedicated to mental health advocacy, supporting vulnerable youth, providing resources to communities in need, and donating to causes personally meaningful to our partners. We supported Sick Kids Foundation, Hospice Toronto, Bell Let’s Talk, Kids Help Phone, Hockey Helps the Homeless and the Donna Squire Foundation, to name just a few.
In the spirit of giving, and as a gesture of thanks to you, we’ve donated 50,000 meals to Feed Ontario – a collective of hunger-relief organizations – to bring help and hope to those in need in our community during this holiday season.
Looking ahead with optimism
As the year winds to a close, we want to express our deepest gratitude for your continued trust and invaluable partnership. We are filled with optimism for the promise and potential that the coming year holds. We eagerly anticipate continuing our journey together, navigating new horizons and embracing opportunities that await us.
On behalf of the entire CMI team, warmest wishes to you and your families for a joyous holiday season, and a healthy and prosperous New Year ahead!
Sincerely,
Bryan Jaskolka
CEO, CMI Financial Group
