“If there’s a problem with the file, they’ll talk me through it. They’ll explain what they need, what’s missing, and we can work through it together”

Leah Zlatkin, Mortgage Outlet

“When speed becomes a variable, bad decisions start happening”

Marko Bodiroga, Lighthouse Lending

“Sometimes in our industry we get really hung up on the volume piece and not so much on the quality piece”

Chris Allard, Chris Allard Mortgage Team

“[The term] ‘trusted partner’ is used way too loosely in our business”

Leo Maiorino, Mortgage Brokers Ottawa

In Partnership with

Beyond competitive rates: what brokers expect from lenders

Forget the rate wars. MCAN’s brokers discuss how better partnerships pay dividends after closing

Read on

Chris Allard

Chris Allard Mortgage Team

Avish Buck

MCAN Home

Marko Bodiroga

Lighthouse Lending

Leo Maiorino

Mortgage Brokers Ottawa

Industry experts

Redefining homeownership for Canadians. MCAN’s mission is to provide sustainable growth and returns to all its stakeholders through its relationship-driven lending, investing activities, and quality work delivered through an expert team focusing on excellent client service. Our foundational experience and knowledge of Canadian real estate mean we build mortgage solutions that reflect the needs of real Canadians, solutions inspired by real life and delivered through an exclusive network of accredited mortgage brokers. With people-first financing and investing solutions that help Canadians achieve homeownership and build wealth through real estate, we are reframing our investment in community and home. Every Story Begins at Home.

Chris Allard is a top-ranked Canadian mortgage broker and the founder of the Ottawa-based Chris Allard Mortgage Team. Born and raised in Orleans, Ontario, he graduated with a bachelor of commerce from the University of Ottawa before channelling his entrepreneurial roots into the financing industry. Today, Allard is recognized as one of Canada’s top 75 mortgage brokers nationwide. He connects clients across Ontario and Quebec with over 50 financial institutions to secure residential, commercial, and construction financing. Known for his modern, client-first approach, Allard simplifies the lending process for first-time buyers and seasoned real estate investors alike.

Chris Allard Mortgage Team

Chris Allard

Avish Buck is a respected leader in Canadian financial services, known for combining strategic vision with operational excellence. As chief operating officer of MCAN Financial Group and president of MCAN Home Mortgage Corporation, he oversees the strategic direction of MCAN’s residential mortgage business, sales and marketing, and corporate initiatives. Under his leadership, MCAN’s mortgage business has experienced remarkable expansion, growing by over 250 percent. Over his tenure at MCAN, the company has also achieved incredible shareholder returns of more than 175 percent, with the company consistently achieving an average return on equity exceeding 15 percent. These accomplishments underscore Buck’s exceptional ability to drive scalable growth and deliver strong results, even amid evolving and challenging market conditions.

MCAN Home

Avish Buck

Marko Bodiroga is the owner of Lighthouse Lending, a mortgage brokerage serving homeowners across Ontario. His work involves helping clients navigate mortgage financing options and working with lenders to find solutions suited to their individual circumstances. Through his work, Bodiroga has developed relationships across the lending industry and gained experience with both traditional and alternative mortgage financing. He values open communication and practical collaboration between brokers and lenders, recognizing the importance of these relationships in serving clients effectively.

Lighthouse Lending

Marko Bodiroga

Leo Maiorino, a highly experienced mortgage broker in Ottawa, brings over 30 years of expertise in the financial services industry. His career includes a 20-year tenure with RBC Financial Group, where he held leadership roles such as branch manager, regional sales manager, and vice president at RBC Investments. This background gives him extensive knowledge in financial products and customer service, which is a key asset in his current role at Mortgage Brokers Ottawa.

Mortgage Brokers Ottawa

Leo Maiorino

Published Nov 2, 2026

Leah Zlatkin

Mortgage Outlet

“It’s all based on trust, and trust is based on consistency, transparency, and being there for each other”

Avish Buck, MCAN Home

A competitive rate can get a mortgage broker’s attention. Keeping their business requires considerably more. A lender’s real value becomes apparent when an approval is taking too long or a client’s financial circumstances change after funding. For brokers, these situations can carry consequences beyond the individual transaction. Delays can put financing at risk, and terms that do not suit a borrower can limit their options later. The damage can ruin a relationship that has taken years to build. The quality of the lender partnership, therefore, has a direct bearing on the broker’s own reputation and business. MCAN Home has been examining how those relationships can deliver greater value, both in the way mortgages are underwritten and in the support available to brokers and their clients. Its approach includes broker development opportunities and programs designed to reward borrowers for improving their financial positions.

In a roundtable hosted by Mortgage Professional Canada, MCAN’s chief operating officer, Avish Buck, joined Leah Zlatkin, chief operating officer at Mortgage Outlet; Chris Allard, founder of the Chris Allard Mortgage Team; Marko Bodiroga at Lighthouse Lending; and Leo Maiorino of Mortgage Brokers Ottawa to discuss what brokers expect from lenders and how mortgage partnerships will need to adapt as borrower demands change. With household budgets under pressure and debt loads elevated, mortgage qualification and renewals demand closer attention to individual circumstances. Prime borrowers may have several financing options, while those in the alternative market face fewer choices and higher borrowing costs. In both segments, underwriting speed and mortgage flexibility can materially affect a client’s financial position.

“Brokers and lenders must transact, but the relationship is what allows you to transact more efficiently,” says Allard. Much of that efficiency comes down to knowing which deals a lender will consider and having access to the people making those decisions. Buck finds the broker’s role has widened. Clients arrive with high expectations, used to services like Amazon, expecting immediate answers, and are focused on speed and price. “We need to balance delivery of that efficiency with a personal, high-touch experience that reflects that this is one of the most important moments in a client’s life.” Earning the title of ‘trusted partner’ When mortgage products and rates are comparable, the difference between lenders often comes down to how they work with brokers.

Buck finds one of the main distinctions is how a lender behaves on a hard file. “It’s all based on trust, and trust is based on consistency, transparency, and being there for each other,” he says. In practice, that means brokers can speak to him directly. “These guys know they can reach out to me and beyond if they need my CEO.” MCAN lends only through brokers, and Buck says that is why the team focuses on the experience delivered on each deal. Nearly every lender says it values its broker partners. Maiorino thinks the phrase has been stretched too far. The term

“‘trusted partner’ is used way too loosely in our business,” he says. A broker who has consistently delivered quality business, demonstrated sound judgement, and established a reliable track record should expect that history to carry weight with the lender. That means access to the people who make decisions and, at times, a rate advantage or a concession for a client. Maiorino describes his preferred approach as “listen first, decline later.” When an application falls outside a lender’s usual criteria, he wants an opportunity to explain the circumstances before a decision is made. He accepts that some files will ultimately be a no, but has seen cases where a direct conversation with an underwriter or credit manager resulted in a commitment that might otherwise have been missed. Zlatkin says that when a file has a problem, an underwriter, her business development manager, or someone senior will explain what is missing and work through it with her. Because she now knows what MCAN looks for, she sends suitable files. “If I send a deal to MCAN, I know that it’s going to fund,” she says. For Allard, familiarity makes both sides more efficient, since a broker who understands how a credit manager works can present a file properly. Bodiroga found learning MCAN’s policies changed how he screens deals. He used to send a file and ask for help fixing it. Now he asks what he should and should not send.

SCORE: a reason for brokers to pick up the phoneAfter closing, a lender and a broker can easily lose sight of the client. SCORE, which stands for Support for Credit Optimization, Rehabilitation, and Education, is MCAN’s program for that period. Buck says clients who take part see their Beacon score rise by about 100 points on average. If the score holds or improves for two quarters, MCAN pays $500, and it pays another $500 two quarters later, applied against principal. Brokers who bring the client through also earn extra rewards. The payments give brokers a reason to pick up the phone. Bodiroga, who works mostly on B-side files, says money

arriving unexpectedly makes the link between credit habits and reward real to borrowers, and it helps with retention and referrals. Maiorino sees a further advantage in how the program supports the exit strategy established when an alternative mortgage is arranged. The objective is often to help a client recover from a period of financial difficulty, improve their credit, and eventually return to prime lending. “It has an impact of taking a deal from transaction-oriented to relationship-oriented,” Maiorino says. The program shines a light on that progress rather than waiting until the mortgage matures. It also creates an opportunity to move eligible borrowers from MCAN’s alternative products into its prime offerings as their financial circumstances improve. “We’re not in the business of keeping people in the alternative space,” Buck says. The difference for the borrower can be large: 12 or 13 percent in the private market against 6 or 7 percent at MCAN, depending on timing and circumstances. When a client faces a job loss, separation, or illness, MCAN works with the broker and has at times capitalized or skipped a payment instead of starting legal action. Buck credits that approach for arrears that run lower than those of its peers.

Bodiroga says renewals call for the same care. A client who cannot graduate to the A side still has to renew, and a sharp rate increase at that point can sour them on the broker who placed them. He values a lender whose renewals are sensible, so the client is not caught off guard. ICON turns that moment into a reason to send more businessMCAN’s ICON program takes a broader approach to the broker relationship, combining recognition, client rewards, and opportunities for professional development. Buck says production volume is one consideration, but the lender also looks at the efficiency and quality of submitted business. Knowing the client and understanding which files are appropriate for MCAN both carry weight. Cheque presentations are a regular part of ICON, and they follow the same pattern as SCORE. MCAN makes a client’s mortgage payment, and the broker makes the call. Zlatkin says clients are delighted to hear from her when it happens, and the story reaches relatives, some of whom then phone her.

Allard believes the initiative also recognizes a part of mortgage brokering that production figures can overlook. “Sometimes in our industry we get really hung up on the volume piece and not so much on the quality piece,” he says. A broker who gives a borrower strong guidance and places them with MCAN is recognized for that work, in Allard’s view, and not only for the number of files closed. The broker is the person who helps a client stay in their home or manage debt more sensibly, he says, and SCORE gives that broker something to show for the effort: a client whose score has improved and a cheque to present. Brokers can also count on MCAN not trying to price-catch their clients, he says, which matters when someone in the private market wants out quickly and an extra day could cost thousands of dollars.

Buck says MCAN has given away about $400,000 in free mortgage payments this way. Zlatkin has also received funding through ICON to organize an event for her team, attended by MCAN representatives. She says the opportunity to spend time with the lender outside the usual transaction process helped her employees better understand the relationship and the business they could place. During MCAN gatherings, Allard has met mortgage professionals from across Canada whose approaches to running their businesses differ from his own. Those conversations have produced ideas he can bring back to his team. He also recalls a

session with a representative from mortgage insurer Sagen that helped him better understand how the insurer evaluates applications. The trips for MCAN’s highest-volume brokers serve a different purpose. The group is small, and brokers who rarely compare notes end up doing so. “Yes, we have the same job title, but we do things in a whole bunch of different ways,” Allard says. Maiorino says the setting encourages brokers to share their best tactics, and it gives them extended time with senior management to say what is working. On one trip, a Sagen representative walked the group through how the insurer operates behind the scenes, followed by one-on-one conversation. Buck says ICON is open to agents whatever their network, so the relationship is with the broker and not the brokerage. It also gives MCAN information. After each trip, the team looks at where broker businesses are heading. If brokers are moving toward a new client segment, MCAN may put more weight on programs such as new-to-Canada lending. Speed depends on who can make the decisionFor brokers who mostly place A and AAA business, Allard says speed, price, and the ability to make a decision determine who wins the file. Allard places considerable importance on the authority given to underwriters. He says MCAN has made a noticeable effort in recent years to give its teams greater discretion to make decisions, reducing the need for unnecessary escalation. “The more you empower your underwriter to make a decision, the better the relationship will be,” he says.

Zlatkin describes what broker access can do. A condo purchase stalled over whether the tenants’ exit paperwork should be an N-11 or an N-12, and the documents went back and forth by email while her clients grew uneasy. She called her MCAN rep, explained that both forms serve the same purpose and that the tenants were leaving, and a commitment letter followed soon after. Bodiroga argues that alternative borrowers are equally sensitive to delays, even when their financing options are more limited. “When speed becomes a variable, bad decisions start happening,” he says. A borrower who needs funds urgently may be pushed toward more expensive private financing if an institutional lender cannot provide an answer quickly enough. Bodiroga wants his own underwriting staff to understand lenders’ requirements thoroughly so that potential issues can be addressed before submission. Preparing for a different kind of borrowerThe next competitive pressure may come from borrowers who prefer to arrange their financing themselves. Maiorino expects technology to make self-directed mortgages more accessible over the next three to five years, creating a market for lenders able to deliver a largely automated experience.

He does not expect that model to suit every borrower. For mortgage brokers, he believes the opportunity lies in providing advice. That will require a more detailed understanding of mortgage products and how their terms affect clients after funding. Maiorino is particularly concerned that lenders devote too much attention to pricing and too little to the restrictions that can limit borrowers’ options when their circumstances change. “Stop telling me just about rates,” he says. Prepayment privileges, refinancing options, and penalties can

become considerably more important when a borrower needs to sell a property or access equity. Maiorino wants lenders to explain those provisions more thoroughly so brokers can assess how a mortgage will accommodate future decisions. Zlatkin also sees continued demand for advice among prime borrowers. Even clients who are primarily interested in comparing rates contact her to discuss inheritances, future property purchases, and other financial decisions. Some ultimately obtain their financing elsewhere but still seek her assessment of their options. Zlatkin also expects more volume to move to the B side as borrowers’ incomes become harder to document. For Buck, these changing borrowing requirements are relevant to MCAN’s future product development. He identifies multigenerational households, different employment arrangements, and the financial needs of newcomers to Canada as areas that may require lenders to reconsider their existing offerings. Clients will also want a fast, seamless process, he says, so a lender must deliver both. Technology is part of how MCAN intends to do that. Buck expects it to lower a lender’s costs, and he says MCAN can pass those savings on to brokers in its pricing. Though 15 years ago the prediction was that technology might eliminate brokers, currently it reduces the time spent gathering documents and completing routine tasks, allowing brokers to devote more attention to clients’ financial circumstances and longer-term plans. Offering that combination while keeping prices competitive is the harder part. “Is there a way for us to give speed and service and maybe add the third piece, price?” asks Allard. For brokers deciding where to place business, all three carry weight. Faster approvals have limited value if the mortgage terms are unsuitable, while competitive pricing becomes less useful when delays threaten a transaction. For MCAN, the challenge is to keep pace with how brokers’ businesses are changing. As more straightforward mortgages become candidates for automation, the lender’s ability to accommodate complex borrowers and offer products that reflect their financial circumstances could become a more important source of business. Buck sees continued dialogue with brokers as essential to those decisions. The feedback MCAN receives through its summits, industry gatherings, and everyday interactions helps identify where policies can be refined and where new products may be needed. As he puts it, when something falls within MCAN’s capabilities, its brokers know the team will “go to bat” for them. That reflects the company’s commitment to partnership and helping brokers build both brand and business. By listening closely and evolving alongside its brokers, MCAN can continue to reimagine what a lender partnership makes possible.

Leah Zlatkin is a mortgage broker and chief operating officer at Mortgage Outlet, where she combines strategic leadership with a deeply client-centred approach to mortgage financing. She works closely with clients, referral partners, and agents to navigate complex lending decisions and build practical, long-term financing strategies. As COO, Zlatkin helps guide the company’s operations, team development, and growth while maintaining the personal service Mortgage Outlet is known for. Her industry perspective is further informed by her involvement with the FSRA Board, reinforcing her commitment to professionalism, accountability, and strong consumer outcomes in every client relationship and business decision.

Mortgage Outlet

Leah Zlatkin

MCAN SCORE: rewarding better credit

The program rewards eligible borrowers for improving their credit after refinancing

$500 reward:

Improve Beacon score by 30+ points over two quarters

Additional $500:

Maintain or improve the score over the next two quarters

Broker incentives:

Eligible ICON brokers earn 4× MQ Points on SCORE deals

Client benefit:

Up to $1,000 applied directly to mortgage principal

MCAN ICON: more value for brokers

Four recognition tiers:

Key benefits: Preferential pricing, MQ Points, client mortgage payment rewards, exclusive networking experiences, and charitable giving opportunities

Creator:

5 deals or $3M funded

Innovator:

10 deals or $5M funded

Disruptor:

15 deals or $8M funded

ICON:

20 deals or $10M funded