Speculation is building about Kevin O’Leary’s new mortgage company, O’Leary Mortgages.
Will his mortgages have a proprietary edge? How aggressive will he be on rates? Will he deal with, or simply compete against, banks and brokers?
We’ll get the details from “Mr. Wonderful” (his CBC nickname) himself in the next few days.
For now, sources from O’Leary’s team tell us the company will not be making any announcements at this month’s CAAMP Expo, despite rumours reported by MortgageBrokerNews.ca.
Rob McLister, CMT
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Last modified: April 26, 2017
Bring on the competition. Old-time banking/brokering is dead.
From what I hear, brokers won’t be happy about Kevin’s entrance into the market. I hear he’s using a broker funding source but cutting out the broker.
Wow, I had noo idea Kevin O’Leary opened up a mortgage business. Well good luck to him! I think he’ll bring an exciting new face to things! I’m interested to see how he does, and I truly do wish him all the best.
Unless he offers better than anyone else conditions, he can’t win any business from me.
I doubt he will accumulate any significant market share without offering better value for comparable products.
You would be doing the public a favour in not further blandishing this man’s yet another offering of a financial service.
HJS.
Who is Kevin O’Leary? A comedian, rock star. I was hoping James Bond would come out with a mortgage company. Free Martinis, hot chicks.
Good luck to him, its a very competitive, shrinking market he is stepping into.
Its makes me laugh out loud when I see phrases like “broker funding source” and thinking that these funding sources are in business to only supply the broker channel. Financial Services businesses exist make as much profit as possible, and some see fit to have a variety of business partners. Sounds like smart business to me. Brokers have lots of different lenders, so why cant a lender have lots of different partners?
I look forward to Mr. O’Leary spending thousands to bring light to our industry. As a broker, our value proposition is about choice, options and independent advice.
Everybody compares O’Leary to Trump for good reason. They both license there names to products or services and are paid for that license.
I cannot say I know for a certainty but I would bet Mr. O’Leary is not putting a dime of his own money into this venture. I think he will be well paid to try to get the business off the ground for others.
People should study the performance of O’Leary Funds to get a flavor of how Kevin works. Funds don’t shoot the lights out but Kevin makes a ton. I actually like him, he’s entertaining and when you run into him in the AMEX lounge at airports he’s personable and pleasent.
Its just smart business; use media to maximize your personal brand and then license your name to others. I wish I could do it.
O’Leary Mortgages!
Why not! All the best to the O’Leary kingdom!
Imagine this: Kevin will farm out canadian buisness to other countries in call centres! Cheap labor low production cost – yes here we go with Kevin again! Where is Amanda on this one?
Helpppp Kevin is out growing more businesses!
PS: Do not invide Kevin to you Tea Party he will want his own!
I am surprised Dan Eisner didn’t have them all sign a non-compete