{"id":3082,"date":"2022-05-27T17:20:35","date_gmt":"2022-05-27T21:20:35","guid":{"rendered":"https:\/\/canadianlending.ca\/brokers\/?p=2829"},"modified":"2022-05-27T17:20:35","modified_gmt":"2022-05-27T21:20:35","slug":"why-technological-innovation-sets-cmi-apart","status":"publish","type":"post","link":"https:\/\/staging.canadianlending.ca\/brokers\/why-technological-innovation-sets-cmi-apart\/","title":{"rendered":"Why CMI is riding the tech wave – and how we\u2019re taking you with us"},"content":{"rendered":"

The rise of digital technology has not only revolutionized the mortgage industry, it\u2019s also changed your role as a mortgage broker. At CMI, we are laser-focused on the importance of wielding the power of technology and digitization to help support you, rather than replace you. We are constantly making improvements to our technology to make it more efficient for you to serve your clients, and ensure that we are connected to all major submission, open banking and other important online platforms.\u00a0<\/span>\"Consumers\"<\/p>\n

Improving our technology has always been a priority. We want to ensure that you have access to the best resources to support your clients, and at the same time, dismantle any misconceptions that still exist about private lending. In today\u2019s world, you can instantly transfer money to a friend, order an item online and find it on your doorstep the very next day, and get food or groceries from across the city without ever leaving home. Consumers have come to expect the same speed and security in every aspect of their lives, and mortgages are no different. That\u2019s why our industry-leading end-to-end digital process has become an increasingly important differentiator for us and our broker partners in an extremely competitive environment.\u00a0<\/span><\/p>\n

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We understand that <\/span>the ease of deal submission<\/span><\/a> and turnaround times are crucial, and we want to offer\u00a0 an exceptional experience – superior to what you would receive when working with a traditional lender. Our technology allows us to review submissions and approve financing in just hours – and in this competitive market, an hour or two can make all the difference. In addition, our renewal process will notify you automatically if a client is ready to refinance or renew, which helps you stay in contact with clients when it matters most. Our portal also allows you to submit applications directly to us without having to email over sensitive client information. We collect documents electronically, no-contact appraisals have been implemented, and we encourage our broker partners to use virtual signatures, which will remain important features long after pandemic restrictions are lifted.\u00a0<\/span><\/p>\n

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Technology has also leveled the playing field to allow more private lenders to reach more borrowers, bringing private lending out of the shadows and into the limelight. When the Filogix platform opened to private lenders and mortgage investment corporations (MICs) in 2020, and Equifax required all lenders on the platform to be credentialed that same year, it allowed more brokers to connect with more experienced and trustworthy private lenders more securely.\u00a0<\/span><\/p>\n

\"Canada's<\/p>\n

As Canada’s premier private mortgage lender, our success has allowed us to invest in the best digital solutions available, compared to other smaller lenders. In 2021, we announced over $1 billion in lifetime mortgage fundings. With rapid growth and increasing demand for private lending, we are always looking at future enhancements. In the coming year this includes:\u00a0<\/span><\/p>\n

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