After a short-lived retirement on December 31, industry icon and former head of Scotiabank's mortgage business, John Webster, wasted no time diving headfirst back into mortgage finance.
Webster has resurrected Maple Financial, a brand he sold to Scotiabank 18 years ago, with a fresh disruptive twist.
Chatting with Webster—who we love to interview because he's heavy on IQ and light on fluff—is always a treat. In this video discussion, he provides deep insight into:
- Maple Financial's secret sauce
- The seismic shift that U.S.-style securitization might usher in for Canada's non-prime scene
- How federally-regulated competitors are at a disadvantage to Maple
- What his crystal ball says about home appreciation
- Whether eHOME and similar digital platforms are a threat to brokers
- Why other big banks don't have an eHOME challenger yet
- Current bank attitudes toward mortgage brokers
- Lessons from his years at Scotiabank
- His one regret at Scotiabank
- And much more.
Webster calls Maple Financial's model "another frontier that has not yet been discovered." Indeed, if what he says comes to pass, the company's funding approach has implications for all non-prime borrowers, brokers, private lenders, and even federally-regulated alternative lenders.
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