Public Expo offers insight into new mortgage landscape

Mortgage industry leaders showcase options in wake of federal rule changes

CALGARY, June 9, 2017 /CNW/ - Mortgage eligibility rule changes implemented by the federal government last October have made it more difficult for the average middle-class Canadian to purchase a home. To assist consumers in navigating the changes, the Alberta Mortgage Brokers Association (AMBA) and Mortgage Professionals Canada are inviting members of the public to a Public Expo where they can ask important questions and learn how a mortgage broker can help them navigate the new landscape in order to keep their dreams of home ownership alive. This initiative builds on the ongoing advocacy and education efforts of both associations.

One visitor to the Public Expo — part of the Mortgage World conference taking place at the West Edmonton Mall (WEM) June 11-13 — will also win up to $5,000 toward closing costs or home renovation. The first 200 will receive tickets to an exclusive sea lion show at Marine Life's Sea Life Caverns.

The expo runs from 12:30 p.m. - 6 p.m. at the WEM's Mayfield Toyota Ice Palace on June 11 at AMBA and Mortgage Professionals Canada's joint conference, and features booths hosted by some of the largest broker companies across the country.

"Our conference is typically closed to the public, but we thought it was more important now than ever to expose consumers to our knowledge and skills in light of what has happened over the past few months following the rule changes," said AMBA executive director Amanda Roy. A new website —YouNeedABroker.com — has also been launched by the two associations.

"This is the consumer's opportunity to ask important questions about their future in this landscape, and help formulate a plan to accomplish their goals of homeownership," added Paul Taylor, President and CEO of Mortgage Professionals Canada.

In October 2016, federal Finance Minister Bill Morneau announced rule changes to mortgage insurance and qualification that have had serious impacts and unintended consequences on Canadians. This has led to a sharp decline in the number of homebuyers who qualify for mortgages. AMBA and Mortgage Professionals Canada have spent recent months advocating on behalf of the industry and potential homebuyers.

Together, AMBA and Mortgage Professionals Canada create a unified voice for the mortgage industry in Alberta and across the country. Their members help navigate the entire home-buying and mortgage-financing process while ensuring consumers make wise decisions that suit their emotional and financial situations, now and into the future. The two associations fuel the economy and provide Canadians with choice when making one of the most important decisions of their lives.

AMBA and Mortgage Professionals Canada — Working Together

AMBA is the voice of the province's mortgage community, including mortgage brokerages, lenders, insurers and industry service providers. For more than 40 years, our members have helped Albertans with their mortgage financing needs.

Mortgage Professionals Canada is the national mortgage industry association. Our members work on your behalf to help you make the right mortgage decision and ensure you understand each step of the home buying process.

SOURCE Alberta Mortgage Brokers Association

For further information: Amanda Roy, aroy@amba.ca, (403) 685-9652 ext. 103

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Alberta Mortgage Brokers Association

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