Reimagining partnership: MCAN & Sagen's blueprint for broker growth

Narrator 00:00:03
CMP Talk, the Canadian Mortgage Professional Podcast.

Fergal McAlinden 00:00:18
All right. Well, hello again. Thanks for joining us on another edition of CMP Talk. I'm Fergal McAlinden. I'm the editor here at Canadian Mortgage Professional. And today, we're going to be talking mortgage industry partnerships. Everybody in the industry knows that you can't get far without strong and lasting relationships, whether you're a broker, lender, or indeed an insurance provider. So that's especially true in a mortgage market that's seen its fair share of twists and turns in the year to date, making it even more important to forge productive and resilient connections. Joining us today to discuss the critical role of partnerships between industry leaders in elevating mortgage brokers, fostering client education, and expanding homeownership opportunities for Canadians are executives from two of the mortgage industry's leading companies. From MCAN Financial, I'm really pleased to welcome Kim Mercer, Director of Corporate Brand and Marketing. And from Sagen, Ivy Budisavljevic, Vice President of Business Development. So thanks to you both for joining us today. How is everything with you?

Kim Mercer 00:01:14
Oh, thank you.

Ivy Budisavljevic 00:01:15
Thanks for having us, Fergal.

Fergal McAlinden 00:01:17
Yeah, it's great to have you both with us. So we're going to get into it. First of all, I guess the main question, we talked about those industry partnerships, but what's the partnership like between MCAN and Sagen? I mean, what does that mean in practice every day for the two companies?

Kim Mercer 00:01:31
Yeah, so, I mean, I think first and foremost, our partnership is so successful because our values are really aligned. So that means mutual trust, transparency, and a real shared intention to help Canadians achieve the dream ownership. In fact, that's language both of our brand stories have in common. It also means we just show up for each other, which I think is really special. We spend time together. So yes, on the deal craft, this side is dev side of things, but also in social and team building settings for joint presentations and for broker events nationwide, our Sagen partners show up for our broker summits to share data and ideas. And we also have a lot of fun. In fact, Sagen is the title sponsor of our Icon Explorer series. So I think that really emphasizes the cultural similarities between our organizations with that focus on people and purpose and performance that we share.

Ivy Budisavljevic 00:02:32
And I'd agree with Kim on that. Absolutely. And I think something that, you know, we all work very hard at at Sagen and at MCAN is that communication piece. And in fact, it's scheduling communication a lot of the time. Right. It's easy to say you're going to stay in touch and, you know, be aligned and, you know, make plans to do these great things. But, you know, it's really a joint effort for both of us to, you know, do some proactive planning about, you know, for example, some of those key partnership opportunities that we collaborate with MCAN on is there's a lot of planning. There's a lot of, you know, really intentional communication that happens to make sure that it's. It's a very strong and a very successful partnership on both ends. So that's very important to each of us

Fergal McAlinden 00:03:19
Yeah, I think that communication is always so important when it comes to profitable and lasting relationships in the industry. Kim, when it comes to Sagen itself, for MCAN, what are some of the things that Sagen does or some of the things about the company that make it such a fruitful partnership for you?

Kim Mercer 00:03:35
So I think what Ivy just spoke to actually is a really excellent example, the communication. And it's that the intentionality and the planning. But what also pops up for me is, you know, Sagen is a real data-driven organization. They're very generous with their market insights, and that helps us augment our own data. And what I find often, in addition to the scheduled comms, is that Ivy or another Sagen partner will reach out and it'll be more a, hey, I thought you might be interested in this. So it's that sharing of ideas that really helps us as a team at MCAN and hopefully the folks at Sagen, it's that sharing of ideas. And that really has value to our broker partners, right? So I mentioned Sagen coming to our broker summits nationwide and having that access to a Sagen rep in a smaller, more intimate setting, the generosity with which they share their time and their resources is really meaningful to us and to our broker partners. And of course, you know, I have to shout Ivy out. She traveled all the way to Iceland to participate in one of our events. That was the Explorer trip. And it was really meaningful that our partners came so far to be part of that experience. I think it's safe to say that an experience like that really helps strengthen relationships between Sagen and MCAN teams, but also for the brokers that joined us. And I know that that's kind of continued post-trip and hopefully will continue into the future.

Fergal McAlinden 00:05:10
All right. Well, I mean, the first question that comes to mind after that is, how was Iceland? And secondly, tell us a little bit about MCAN and what you value about your relationship with them and why they're such good partners.

Ivy Budisavljevic 00:05:23
Iceland was a once in a lifetime experience. I give a lot of kudos to Kim for selecting that location because we had a blast and, you know, that really helped to strengthen the partnership. You know, forget all the great adventures we had in Iceland, but even just traveling, you know, with people and spending all that time with them. It really, really adds to just that level of trust and that level of partnership that, you know, it's really hard to get that from just joining Zoom calls with people from a business perspective. So... Loved Iceland. I highly recommend it. I will absolutely be going back someday soon. So many great things to say about MCAN. Really, the one thing that stands out for me is MCAN's openness to innovation and openness to hearing feedback from their partners like Sagen, as well as their key broker relationships. And that was a really impactful piece of those broker summits that Kim was talking about that MCAN really places a lot of priority on is, you know, sitting down with brokers and better understanding, hey, you know, what are we doing really well? And, you know, what are where can we be better? And I think that's really vulnerable for a lender or, you know, any company to ask those questions. And that, to me, really, really, you know, exemplifies who they are as a company, what their culture is. And they're willing to listen to the feedback, but they're also looking to action it. They had all the right key stakeholders at that table to really help take some of those items away to better improve the experience and innovate on a potential new process or policy that could make their brokers' lives easier. So that's really impressive to me. And that's something that stands out as something that MCAN does really, really well. Part of the reason why I really quite enjoy working with them.

Fergal McAlinden 00:07:17
Yeah, I mean, that last point about the enjoyment that you get out of working with MCAN is really interesting, because it's clear even from this conversation that there's, you know, massive respect, really productive relationship that you guys can run really well. I'm wondering when that comes down to brokers, how does that strong relationship that you have, how does it benefit brokers and I guess by extension homeowners and buyers? Kim, maybe you can start on that one.

Kim Mercer 00:07:40
Yeah, I think it starts with that alignment and that shared commitment to service. So that means... Brokers are getting a consistent, unified experience across the relationship. And that's a win for clients when everything just works, right? So we're aligned in messaging and the way we manage the communication across a deal, across an application, so that the broker feels well-informed and has trust in the process. And then that translates downstream to the client, obviously, which is most important. And I think that... that presence, that sense of shared stewardship. Again, it means consistency, but it also provides a certainty, which everyone's really seeking currently. And it's an opportunity for everyone through solutions and programs that support Canadians. So that continued feedback loop that Ivy referenced, always generating ideas, always looking at how to innovate solutions and processes and systems for our workers and our clients. It's a situation where everybody wins and gets stronger.

Ivy Budisavljevic 00:08:50
Yeah, and I would agree too. I mean, I think we have complementary strengths, you know, different skill sets, knowledge on different types of clients. I mean, of course, you know, Sagen is the expert in the insured first-time homebuyer. But then you've got MCAN, who is the expert in that demographic, but they've also got, you know, their alternative product that allows mortgage solutions for another type of borrower. So I think when we collaborate in-field and we help support brokers together, it brings two different perspectives together that really results in some high value outputs. And it also helps the broker understand, you know, where is my application going? You know, before funding, you know, I have my relationship with MCAN and then it goes to the insurer and then we get to funding. So just kind of that life cycle of the transaction when Sagen and MCAN can be together with a broker, kind of talking through that process. It helps put the broker at ease. It provides a high level of education for them to understand that process. And then in turn, they can educate the home buyer. So really helps to, you know, give that great experience to the customer at all levels of that transaction.

Fergal McAlinden 00:10:03
Great stuff. You know, it's interesting that Kim mentions people are looking for stability at the moment. I mean, we all know that it's a bumpy market right now. Plenty of challenges for borrowers and for mortgage professionals. And we think that's going to continue into the rest of the year. So I'm wondering if that maybe makes it even more essential at the moment, Kim, to kind of forge the strong industry relationships that we've been talking about.

Kim Mercer 00:10:24
Yeah, absolutely. I mean, that trust and the synergy that we build over time means we can move faster together, which means we can adapt. And that's really ensuring to our partners and our clients, they still get the best possible guidance no matter the conditions. And as part of that, I just want to shout out to you that Sagen and MCAN really prioritize investment in partnerships and also industry organizations and events with the goal always towards education. So again, as partners, we really want to make sure that brokers have access to the best solutions, are able to provide that feedback, are celebrated for the service that they provide. And obviously, all of that flows through to a better experience for clients. Again, in circumstances that are uncertain and volatile, people just want certainty across the board. So I do think both organizations prioritize investment or prioritize investment in movements, events that move the industry forward in significant ways.

Fergal McAlinden 00:11:33
All right, great stuff. Thanks, Kim. And how about for you, Ivy?

Ivy Budisavljevic 00:11:36
So I think we all know how bumpy the real estate market can be. There are definitely highs and lows and it really all comes down to that trust and transparency. And I'll never forget someone said to me one time in talking about strong partnerships is that when a relationship is established and that you know you know the individual at a personal level any issues that arise after that you know they don't have to be issues they can simply just be conversations and I think that's where you know Sagen and MCAN are at in terms of our partnership is that we acknowledge that you know there will be some difficult conversations or issues that arise but we're in a really really strong place to be able to have those candid and open conversations to be able to help each other get through to the other side.

Fergal McAlinden 00:12:27
Yeah, absolutely. And I mean, that's a really interesting point. Kim, I mean, we've talked about the good and about how partnerships can work well, but I'm wondering if there's anything that you think should be avoided when it comes to a good partnership?

Kim Mercer 00:12:38
Yeah, I mean, I think siloed thinking or competing priorities within the partnership, that can really create tension. And then that flows through to the experience for brokers and clients. And also team members, right? So I think we've hit on this a few times, but that relationship internally between our teams that creates that open dialogue and that opportunity for, you know, honesty and movement forward, that gets tarnished, that gets diluted when you forget what the common goals are, right? So I think, you know, thinking bigger, understanding that we're all stronger when we work together, and that's what the market needs right now. I think that's critical.

Fergal McAlinden 00:13:21
All right. Very well said. Ivy, how about for you? Anything that you think a good partnership in the mortgage industry should avoid?

Ivy Budisavljevic 00:13:26
Yeah, I think, you know, avoid any surface level conversation. I really think that the deeper that you go, the better, you know, asking curious questions. You know, each of our businesses operate differently. So, you know, having that courage to sometimes ask, you know, hey, you know, tell me more about that. How does that work? How are you measured on that? What does that mean in your world? That really digs into some of the core, you know, partnership pieces that can really help make a relationship stronger. So don't be afraid to ask questions and to dig deeper.

Fergal McAlinden 00:14:01
All right. Well, before we wrap things up today, is there anything that you'd like to add or do you have any closing message for our listeners? Kim, maybe we'll start with you.

Kim Mercer 00:14:07
Yeah, I mean, first of all, I just want to say a big thank you to Ivy for participating today and the entire Sagen team for this amazing partnership. I think, again, the message is strong that working together, we're all going to achieve our goals, which ultimately will help Canadians. And also Fergal and the team at CMP, thank you. Talking about industry events, I mean, you all work so tirelessly to amplify the messaging and to show that, you know, what we do really does matter. And you shine a light on all that's good in our industry. So thank you.

Fergal McAlinden 00:14:45
The very same to you. We appreciate our partnerships with both. And Ivy, maybe I'll give the last word to you.

Ivy Budisavljevic 00:14:49
Thanks, Fergal. Yeah, you know what? It's all about people. Our industry is full of amazing people. So that's ultimately what it comes down to. You know, we all have products, policies, guidelines that we live and breathe to process our mortgage applications, but strong partnerships really all come down to the people within those individual organizations. So I think anything that we can do as an industry to nurture good partnerships, you know, show up to support people, be available to provide guidance, you know, as needed, especially to folks who are new to the industry. I think that's how we can just continue to be really, really strong and united as a mortgage industry?

Fergal McAlinden 00:15:28
Well, I think that we couldn't get a better place to leave things off today. Thank you very much for both your time. We really appreciate your input. Really fascinating discussion. Plenty of good pointers there for our listeners. And yeah, we look forward to connecting with you both again in the future. Thanks for joining us.

Kim Mercer 00:15:42
Thank you.

Ivy Budisavljevic 00:15:43
Thank you.

Fergal McAlinden 00:15:44
All right. Well, that just about does it for today's edition of CMP Talk. My thanks once again to Kim Mercer of MCAN Financial and Ivy Budisavljevic of Sagen for joining us. Thanks to you for listening and we'll see you next time.

Narrator 00:15:55
Thank you for tuning in to CMP Talk. You can listen to the latest episodes on Apple, Spotify, Amazon, and all major listening channels. Just search for CMP Talk.