RFA laying groundwork for further growth

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Bolstered by its foundational strength and high service levels, the company is taking the next steps on the path to becoming a leading lender in the mortgage broker channel

RFA IS in growth mode for 2023 and beyond – and the company’s solid foundation and strong capitalization mean it’s ideally positioned to establish itself as a leading broker channel lender, according to president and CEO of RFA Mortgage Corporation Marina Bournas and president and CEO of RFA Bank of Canada Rob Morton. Speaking with Canadian Mortgage Professional, Bournas said that RFA still viewed itself as in the early stages of building for long-term success despite its progress in recent years, with service culture and a credit-diverse product offering central to its growth plans and future vision. When it comes to the broker channel, RFA’s message is clear: the company is in it for the long haul, according to Bournas. “We have capital strength and patience to look beyond any potential downturns to enable us to think in terms of years – not quarters,” she explained. “We’ve intentionally structured our organization for current and near-term needs, and are continuously building and refining our operating capacity to be a leader in broker service.” A key component of the company’s growth has been

Founded in 1996, RFA (Realty Financial Advisors) is a Canadian-owned real estate investment firm grounded in the commercial and asset management segments. RFA and its investment partners are active participants in a wide array of real estate-focused portfolios, including debt financing transactions, REITs, retirement homes, and direct investments in office, retail, industrial, and multifamily residential properties. Combined, the RFA group of companies has over $65 billion in assets under management and an additional $25+ billion in assets under administration. In 2018, RFA expanded into the residential lending market and accelerated its growth plans through the acquisition of Street Capital in 2019. RFA now holds a presence in both the prime and alternative lending segments. Visit brokersfirst.ca to become a registered broker with RFA.

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RFA’s residential lending division at a glance

DIVISIONS

“We’ve intentionally structured our organization for current and near-term needs, and are continuously building and refining our operating capacity to be a leader in broker service”

Marina Bournas, RFA Mortgage Corporation

diversifying its mortgage funding sources, giving brokers access to prime and alternative product suites through RFA Mortgage Corporation and RFA Bank, respectively. On the alternative side, RFA Bank now accesses funding liquidity through over 25 deposit boards, said Morton – with further enhancements expected throughout the coming year. That strong focus on developing the right foundation, meanwhile, has helped provide RFA with “more than sufficient capital” to fund its growth goals, Bournas said, with its success in recent years underpinned by the support of patient backers with a long-term horizon. It allowed the company to concentrate on the next piece of its organizational build: bringing in the right leadership and putting together a team of seasoned industry executives that positioned it strongly to serve the broker community.

It’s little surprise, then, that Bournas and Morton view RFA’s value proposition in the lending space as a strong one. “With these foundational pieces in place, we believe our culture and values are ultimately an advantage that sets us apart from other lenders,” said Morton. Purpose beyond profit Rightsizing has been a prominent theme in the mortgage industry of late, with many companies looking to trim their staff and payroll as purchase activity slows and the market cools from the frenetic pace it set in recent years. That’s not the case at RFA – and Bournas said the company is

encouraging anyone who’s considering applying to do so, with the opportunity there to join what she described as a progressive and growing organization that’s trying to make a difference.

only on employee development within their careers, but supporting their everyday lives,” he said. “We offer access to a health and wellness program, training budgets, and provide other critical benefits to help support the well-being of our employees and their families.” Not only does RFA place a strong emphasis on its employees’ well-being – it’s also driven by a desire to make a difference in the wider community through charity work and other philanthropic efforts. That’s because it believes a major part of running a successful company is making a positive impact on the communities served outside the scope of business, Bournas said, and that is one of the main reasons it launched a #DealsforChange program to support charitable organizations, donating nearly $500,000 toward it since 2020.

“People and culture are very important to us. Inclusivity, community, wellness, quality underwriting, and building RFA into a ‘destination employer’ are at our core”

Rob Morton, RFA Bank of Canada

The company is in the early stages of putting together a career development program with CEE (Careers Education Empowerment, a centre for young Black professionals) based on financial services and mortgages – a first of its kind in the industry, which Bournas said has the potential both to help youth and develop up-and-coming young talent. Bournas herself has teamed up with the BeaYOUtiful Foundation, a charitable organization aimed at building the next generation of confident women, to lead free confidence workshops for young girls between the ages of nine and 12. “I have a 10-year-old daughter myself, and I know just how

vulnerable and formative these years of their lives can be,” she said. Looking with confidence to the future RFA’s outlook is “cautiously optimistic” for the spring market ahead, according to Bournas. While 2022 was a quieter year than those that preceded it, that should be taken in the context of 2020/21 being an “aberration fuelled by low rates and excess market liquidity,” she said. “We’re pragmatically hoping for the market to return to 2018/19 activity levels,” she said. “A combination of a small housing price correction and slightly lower-than-today five-year fixed rates could be a strong catalyst for any pent-up market activity that could be out there.” The company is looking ahead with confidence to the future, with a strong conviction regarding its ability to ultimately become one of the leading lenders in the broker channel. “We have the capital strength and patience to look beyond any potential downturns,” Bournas said. “We’ve made a lot of progress over the last two years in evolving our offer, our service levels, and our approach to working with the broker community. “And this is just the beginning! If you’re a broker or agent who has not recently experienced RFA, we encourage you to experience what quality lending is all about.” Visit brokersfirst.ca to find out how you can become a registered mortgage broker with RFA.

RFA Mortgage Corporation

prime, insured, insurable, uninsurable

RFA Bank of Canada

alternative mortgage lender – Alt-A and -B lending

Executive teams

RFA Mortgage Corporation

Marina Bournas - president and CEO Michael Dressler – COO Cheryl Buhs – vice president, national sales Cristina Ferreira – vice president, quality assurance & risk

RFA Bank of Canada

Rob Morton – president and CEO Michele Beke – CFO Greg Hsu – CRO Derek Arbour – SVP, credit operations Matt Lirantzis – head of marketing and business development

#Deals4Change

RFA has donated almost $500,000 to several deserving charities through its #Deals4Change program. The company actively works with its broker partners to support charitable initiatives affection their local communities. If you’re interested in learning more or would like to partner on an initiative, please contact your regional vice president.

“People and culture are very important to us,” said Morton. “Inclusivity, community, wellness, quality underwriting, and building RFA into a ‘destination employer’ are at our core.” The company has carved out a strong reputation for its corporate culture and employer brand in attracting and retaining top talent, he said, with compensation, benefits, development, and culture contained within its employee value proposition to ensure a “holistic” offering for the team. That’s been underlined by its 2022 Employee Net Promoter Score being well above the global average, with RFA identified as an “Excellent” employer per the Bain & Company rating system. Its commitment to employees goes beyond helping with their professional goals and aspirations, Morton said. “Our focus is not

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