I am 70 years young in Feb 2020.I started our company over 30 years ago out of my gargage. Last year I sold my interest in the company to four of our agents, including my daughter and formed the Matthey Mortgage Team. Freed from the responsibilities of management I am now able to concentrate on what I love to do and that is helping homeowners and homebuyers strategically deal with their mortgage.
My son, Chris, my daughter, Karen and Karen Schmidt, comprise the Matthey Mortgage Team. Chris has been a mortgage agent for 8+plus. Karen's background is in International Finance and has been an agent for 5 years. Karin Schmidt has a 20+ year banking background and is our client services manager
Our speciality is First Time Buyers, but we cover a wide range of financing options for all types of situations.The new First Time Homebuyers plan may also help a new homebuyer qualify when they maybe wouldn't normally.
Lately, I have been seniors , who own their own home, improve their lifestyles by showing them the advantages of a Reverse Mortgage. I am also a "Reverse Mortgage Specialist". Now Reverse mortgages are not for everybody but they are a godsend to many people. There are so many misconceptions about a Reverse Mortgage.My experience with all types of financing options and my age and stage in life allows me to talk to seniors on a "Senior to Senior" basis to guide them on the best financing options for their stage in life, with the Truth and Nothing ut the Truth.
If you are military, you may have seen news stories on huge mortgage penalties paid by members to their Bank, when posted. You may qualify for our "Freedom Mortgage" for military that offers no penalty when you produce a posting notice inside or outside of Canada.
If you are a First Time Buyer , we have the most comprehensive guide available for you that you can order on line. Just send an email to brian@mtgprof.com under the heading "First Time Buyers Guide Please"
I am proud to have been a nationally and locally award-winning Mortgage Broker for over 30 years in the Kingston area. I have been one of the broker/owners of our company over the same time period. I have been ranked in the Top 3 as a Mortgage Broker in the Kingston This Week's Reader's Choice Awards for the past several years, and in the fall of 2013, I was proud to be inducted into the Canadian Mortgage Hall of Fame with Mortgage Professionals Canada.I was alos included in Canadian Mortgage Professional magazine in their Hall of Fame in 2019
There are many ways to contact us if you have a question. You can text us direct at 613-561-2719. You can email us at brian@mtgprof.com You can also access us Face2Face(F2F) through Apple Facetime by dialing 613-561-2719. The last option works well with our clients for any questions, they have on their mortgage, before, during or after closing.
It is our belief that our job does not end with your mortgage approval. We support you through changes in your life and lifestyle and we are there to guide you into the nest mortgage product that benefit you, not the lender.
We would love to hear from you.
The majority of our business comes from referrals, which is a great reinforcement that people appreciate the job that we do. Our job is not just to get you a great rate (although we do that too!) - it is to explain the home buying and mortgage process to you, clearly explain the terms and conditions of your mortgage to you (so unlike with the bank you're not suddenly hit with a shocking penalty you had no idea could happen) and keep you informed about where rates and the economy are going.
You can find us on Facebook at:https://www.facebook.com/MattheyMortgageTeam/
You can find Open Houses and New Listings in the Kingston area here:https://www.facebook.com/buysellshowkingstonrealestate/
You can find Waterfront Open Houses and Listings here:https://www.facebook.com/YGKWaterfrontproperty/
BLOG / NEWS Updates
In My Wildest Dreams-Reflections.....................
A pause to reflect on 30 + years with the Mortgage Pros
Nobody makes it on your own in this business.
It takes a team of people and it takes a family commitment to sometimes put up with long hours, days away on education, training and conferences. It takes coworkers who work in the background and partners you may or may not agree with all the time. It takes lending partners who have to be treated with respect as they are there to help you be successful. When you start out, it takes worrying about where the first and next dollar will come from but deciding to invest your time in not worrying and making it happen.
It means taking a chance. It takes stepping outside the box to try things. It takes failing time and time again and then working on why and looking into yourself. It takes working on being successful and improving on the things you do continually rather than sitting back. It takes listening. Something I was not the best at a lot of the time. It takes stepping up to become involved in your industry in promoting it and strengthening it. It takes a commitment to be the best you can be for your company and your clients and analyzing all the time whether you are accomplishing that goal.
I never thought in my wildest dreams that when we opened the doors of our business in 1989 a receptionist and two coworkers, in the midst of 12% interest rates, that we would be where we are today. I never envisioned that my young kids who moved into our home in Kingston in 1988 would be working with me in the same business, respected in the industry, not for being my kids, but for what they worked hard to become as professionals. It is not easy working with your Dad or for your Dad and not being looked upon as the owners children when they first start out. They did it themselves with their own personalities and work ethic. Those same children are putting their mark on their future and the companys future and I am proud to work alongside them.
It is very nice to be recognized by your peers and industry with awards and accolades and I am thankful and proud but that is not what I am most proud of. I am blessed with a patient wife and two great children, who are great parents and who are doing a great job raising their children, my grandchildren. I am proud of watching my children take their place in this industry and for the job they have done to get where theyare today. I am proud that they still call me Dad.
I am really happy that they havent asked for my office yet so Ithink Ican stay around for a few years still!
Mortgage Deferral Agreements and Their Impact
CMHCs Fall 2020 Residential Mortgage Industry Dashboard discusses mortgage deferral agreements and their impact.
At the end of the second quarter, credit unions, mortgage finance companies (MFCs) and mortgage investment entities (MIEs) have allowed mortgage deferral agreements for about 6%, 7% and 7% of their respective residential mortgage portfolios.
Chartered banks have allowed 16% of mortgages to go into deferral since the beginning of the pandemic. Of these, close to 2 out of 3 borrowers had resumed payments on their mortgages at the end of the third quarter of 2020. In the coming months, we could see higher delinquency rates if some borrowers are unable to resume their payments; these mortgages will have to be booked as arrears.
These deferral agreements have affected financial institutions cash flows, with reductions of:
4% in scheduled mortgage payments
3% in non-scheduled payments (accelerated monthly payments and lump-sum payments)
While remaining at low levels, mortgages in arrears (90 or more days delinquent) have increased slightly between the first and second quarters of 2020 from:
0.24% to 0.26%, on average, for chartered banks
0.23% to 0.25%, on average, for non-bank mortgage lenders
We also observe an increase in early-stage delinquencies (31 to 59 days and 60 to 89 days), which suggests that arrears could continue on an upward trend.
Source: CMHC
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of percent, with the Bank Rate at percent and the deposit rate at percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.
The rebound in the global and Canadian economies has unfolded largely as the Bank had anticipated in its October Monetary Policy Report (MPR). More recently, news on the development of effective vaccines is providing reassurance that the pandemic will end and more normal activities will resume, although the pace and breadth of the global rollout of vaccinations remain uncertain. Near term, new waves of infections are expected to set back recoveries in many parts of the world. Accommodative policy and financial conditions are continuing to provide support across most regions. Stronger demand is pushing up prices for most commodities, including oil. A broad-based decline in the US exchange rate has contributed to a further appreciation of the Canadian dollar.
