New to Ratehub.ca is the Mortgage Broker Profile section. Today, we’ll get a closer look at one of our Quebec mortgage brokers from the city of Brossard. Fabrice is located across the St. Lawrence, east of Montreal. Find out the biggest mortgage he’s ever closed or what type of mortgage he has. Fabrice was kind enough to let us peek into his world.
Rencontrer l`homme qui travaille avec les hypothèques.
NAME: Fabrice Mesnage
BROKERAGE: Multi-Prêt MR
Meet Our Mortgage Specialist
Q. What did you do before you were in the mortgage business? Any odd jobs?
I was working in Europe, for the tire company Michelin, in France. I was Head of Sales for the Northern region.
Q. Fill in the blank. ‘If I weren’t in the mortgage business, I’d be…
I’d be a skipper travelling around the world and managing a fleet of catamarans
Q. What first got you interested in the mortgage business and how long have you been in it?
I wanted to take advantage of my business school experience (finance, accounting, marketing, management). Establishing a Mortgage company allowed me to apply my education into a field I enjoy.
Q. Why do you think you’ve been able to achieve success?
I work hard, always return calls, and am 100% loyal and honest so success comes quickly!
Q. A mortgage horror story. Have you helped a client escape a horrific situation?
Two and a half years ago shortly after the American subprime crisis, one of my clients called me to restructure her debts and negotiate a better mortgage rate than her Bank Interest Rate. We set up everything, when it was the time to fund the new loan, the bank told my client that the penalty would be $23,000 instead of the$ 5,000 we initially calculated! My client was devastated. She told me that on top of that she was fighting cancer against tough odds. I told her to call back the institution and let them know how desperate she was. If a fair trade off was not set up, she would explain her case to the TV program “La Facture”. In less than 30 minutes, the penalty went from $23,000 to $4,500!
Q. What’s your personal mortgage product? If you are living with a partner, how did you decide? Was it a battle?
Personally, I only believe in variable mortgage rates. I set up my mortgage as I do for most of my clients. I increase the monthly payment in such a way that doesn’t allow me to feel any changes if the prime rate increases. I keep a long amortization period (35 years) but organize it to be paid off within 15 years.
Q. What’s the biggest mortgage you’ve ever closed? What did you do with the commission?
The biggest loan I have ever closed was $800,000. I re-invested it into development!
What makes your business different?
Q. Where do you see your business in 5 years?
With my partners we would like to bring Multi-Prêts MR over half a billion dollars of financing. We would also like to have 5 or 6 offices with about 50 employees.
Q. How do you market your business and brand? What’s your favourite thing about Ratehub.ca?
We market our brand through the web (partner websites, Google, and social media). My favourite thing about Ratehub.ca is the professionalism of the team. I look forward to meeting the team in November at CAAMP (Canadian Association of Accredited Mortgage Professionals) in Toronto.
A Deeper Look
Q. When you take a break from helping clients, where can we find you?
Feeding my new 3 month-old baby or play fighting with my 5 year-old son. Both take a lot of energy!
Q. Who’s your ideal mortgage client?
The ideal Mortgage client is curious and wants to understand. When trust develops initially it makes our meeting much more enjoyable.