Lending Leaders: Q4

Welcome to the series where we ask 5 lending professionals for their take on the current market challenges and opportunities


Adil Rahman, Danny Saikaley,
Rebecca Nickerson, Pranav Sharma,
Thiet Le


Mortgage Advice, Variable vs Fixed Rate, Market Strategy, Ottawa Real Estate, Investment Properties, Rentals, Advice, Obtaining Financing, Preparing to Buy, Pre-Approvals


Ottawa, Ontario


March 28, 2023 8:00am EDT


Adil Rahman Mortgage Team, Mortgage Brokers Ottawa, Mortgage Forces, Pegasus Mortgage Lending, The Mortgage Advisors

How has the pandemic changed the mortgage agent/broker profession?

Thiet Le – Mortgage Brokers Ottawa

Thiet Le
Mortgage Brokers Ottawa

“I always strive to do an outstanding job. I have expert knowledge and a passion for the mortgage industry that drives me to deliver the best results possible, the best service with care, integrity to as many people who are in need of mortgage solutions.”

“The COVID-19 pandemic has impacted the mortgage industry, bringing about several changes that have altered the way lenders operate.

One of the most significant changes is the increased demand for digital services. With social distancing measures and lockdowns in place, many borrowers have turned to online platforms to complete the mortgage application process. Lenders have responded by enhancing their digital capabilities, including virtual tours of properties, online document uploads, and digital signatures, among others.

Another impact of the pandemic has been an increased focus on remote work options. As many lenders were forced to close their physical offices, they have had to shift to remote work models to continue serving their clients. This has necessitated the use of new technologies to ensure that employees can work securely from home and communicate effectively with their colleagues and clients.

Finally, the pandemic has led to changes in loan qualifications and underwriting processes. With many borrowers experiencing financial difficulties, lenders have become more cautious in their lending practices, requiring higher credit scores and larger down payments. Additionally, lenders have had to adjust their underwriting criteria to account for the economic uncertainty caused by the pandemic, resulting in stricter guidelines for income verification, employment stability, and debt-to-income ratios

Overall, the pandemic has accelerated the adoption of digital technologies in the mortgage industry and forced lenders to adapt to a rapidly changing environment. These changes are likely to have long-lasting effects on the way mortgages are originated, serviced, and underwritten.”

Pranav Sharma – Pegasus Mortgage Lending

Pranav Sharma
Pegasus Mortgage Lending

“I am a mortgage agent with a passion for helping people achieve their dream of homeownership. I have a deep understanding of the various home loan options available and will work closely with you to find the perfect mortgage solution to fit your needs and financial situation.”

“The pandemic has significantly impacted the mortgage agent/broker profession in several ways:

↳ Shift to remote work: With lockdowns and social distancing measures, many mortgage agents and brokers have had to adapt to working remotely, relying on digital tools to communicate with clients and process loans.

↳ Increased demand for refinancing: The pandemic has caused financial insecurity for many homeowners, leading to a surge in demand for mortgage refinancing as a way to lower monthly payments or access home equity.

↳ Changes in lending criteria: Lenders have tightened their criteria in response to economic uncertainty, making it more difficult for some borrowers to qualify for a mortgage.

↳ Reduced in-person interactions: In-person interactions with clients have been limited, leading mortgage agents and brokers to rely more heavily on virtual tools and technology to communicate and conduct business.

↳ Economic uncertainty: The pandemic has caused economic uncertainty, leading to fluctuations in interest rates and affecting the mortgage market.

Overall, the pandemic has required mortgage agents and brokers to quickly adapt to a new way of working, while navigating a constantly changing market and lending landscape.”

If you are a Mortgage Professional and would like to contribute to the FCA resource section by writing articles, blogging, creating videos or providing answers to our questionnaires, please contact us at:


Rebecca Nickerson – The Mortgage Advisors

Rebecca Nickerson
The Mortgage Advisors

“With a passion for real estate and expertise in finance, I am committed to working with you to find a mortgage tailored to your needs and lifestyle. I have access to a variety of lenders, assuring that we find the right fit.”

“We are 100% remote and can do everything virtually.  This saves the client so much time in the process. Zoom calls and electronic signing documents are game changers when it comes to the qualification process.  We can have clients qualified in no time; it also speeds up the process when you have an accepted offer on a home which translates into a better buying experience with minimal stress.”

Adil Rahman – Adil Rahman Mortgage Team

Adil Rahman
Adil Rahman Mortgage Team

“I’m a Bilingual Accredited Mortgage Professional committed to helping my clients access mortgage solutions; regardless of whether you are looking to buy your first or fifth home or refinance your current home.”

“The COVID-19 pandemic has significantly changed the mortgage agent/broker profession. The pandemic has resulted in economic uncertainty, financial hardships, and record-low interest rates, leading to a surge of mortgage applications, refinance requests, and unprecedented demand for mortgage expertise. The pandemic has led to an increased demand for mortgage refinancing, and mortgage brokers and agents have adapted to new lending guidelines and worked with their clients to provide the best solutions. They have leveraged technology to streamline the loan application process and made the experience more convenient and efficient for clients. Additionally, the pandemic has led to increased competition as new mortgage brokers and agents enter the profession, and lenders tighten their lending criteria, making it more challenging for some clients to qualify for loans. Despite the challenges, mortgage brokers and agents continue to play a vital role in helping people achieve their homeownership goals.”

Danny Saikaley – Mortgage Forces

Danny Saikaley
Mortgage Forces

“Danny Saikaley, President, entered the financial service industry in 2005. He has worked and consulted for major banks in Canada. Mr. Saikaley is an active supporter of Canadian military families through philanthropy, direct cooperation, and financial guidance.”

“Too many agents are chasing the same clients and not sure if that is healthy competition or not but I think the brokerages have a lot of responsibility in making sure their agents are well-trained to perform better. The COVID-19 pandemic has had a significant impact on the mortgage industry and the role of mortgage agents and brokers. Some of the ways it has changed the profession include:

↳ Increased demand for remote services: With social distancing measures in place, there has been a greater demand for remote services, such as virtual consultations and online applications. This has required mortgage agents and brokers to adapt their work processes and technology to accommodate these changes.

↳ Heightened competition: With many people looking to refinance or purchase a home during the pandemic, there has been increased competition among mortgage agents and brokers to secure business.

↳ Focus on professional development: The pandemic has also highlighted the importance of staying up-to-date with industry changes and regulations. Many brokerages have increased their investment in professional development and training for their agents.

↳ Shift to digital: The pandemic has accelerated the trend towards digitization in the mortgage industry, with many processes moving online to accommodate social distancing measures and to increase efficiency.

While these changes have presented some challenges for mortgage agents and brokers, they have also created opportunities for growth and improvement. Brokerages have a key role to play in ensuring that their agents are well-equipped with the skills and knowledge they need to succeed in a rapidly changing market.”

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