Why Did I Fail You? How This Calgary Independent Mortgage Broker Fell Short—And What I’m Doing About It

Why Did I Fail You? How This Calgary Independent Mortgage Broker Fell Short—And What I’m Doing About It.

Last week, I fell short. I was so immersed in meeting my client's needs that I didn't have time to share tips on saving money on your mortgage. For that, I apologize—but only a little. Why? Because my client’s needs come first, always. Whether it’s securing approvals, pre-approvals, handling possessions, rate holds, or getting crucial documents to underwriters, every task is time-sensitive. And let’s not forget about coordinating with lawyers—those timelines are non-negotiable.

I used to be able to squeeze in extra time in the evenings, but with a newborn at home, my nights are now filled with pacing, burping, changing diapers, and ensuring my little one is doing well. Life is intricate and full, but it wasn’t always this way.

A Glimpse Into Simpler Times

A few years ago, I lived in Banff, where life moved at a different pace. After locking up the bank, I would race home, hop on my bike, and ride into the mountains until darkness forced me back. I remember one evening vividly. I had just reached the top of Tunnel Mountain and was coasting down my favourite trail. I noticed a yellow sign on a tree but didn’t bother to read it—bad move.

Suddenly, I heard something crashing through the bushes like a tank. I glanced over and saw a massive elk charging straight at me. Instinct kicked in, and I swerved back towards the road, hurtling down a steep embankment. The elk was relentless, its hooves pounding the pavement right behind me. At one point, I felt a nudge from its snout on my back—she was trying to knock me down.

Adrenaline surged through me as I pushed my bike faster than I ever thought possible. Just as the elk was about to overtake me again, a car rounded the corner. The driver must have seen the terror in my eyes because they quickly pulled between us, giving me the precious seconds I needed to escape.

 The Motivation of Protection

Later, when the coast was clear, I cautiously returned to read the signs I’d missed. They warned of an aggressive elk protecting her newborn calf. There’s nothing more dangerous than a mother protecting her young and that day, I learned just how true that is.

This instinct to protect is universal, and it’s something I felt deeply when I held my son for the first time. It was as if a switch flipped in my brain—a whole part of me that had been dormant was suddenly wide awake. The flood of emotions was overwhelming, bringing me to tears. I was acutely aware of things that were hard to explain, almost like a heightened sense of common sense triggered by a cascade of chemicals.

This instinct goes beyond just wanting to be a good role model. When my children grow up, I want them to say my name with pride—not just because of my accomplishments, but because of the way I lived my life.

Creating a Legacy Through Passionate Work

So how do I create this legacy? By treating every single client like they’re family. I want to be there for my clients for years to come. If I don’t give my best when it comes to service, rates, products, and education, then how can I expect to grow and flourish? The easiest way to build a legacy is to have pride in your work. Be passionate. Find joy in what you do. These principles are the foundation of my work ethic, and they drive me to work well into the night, every chance I get.

The basics of being an Independent Mortgage Broker in Calgary may be straightforward, but being brilliant at the basics takes time, effort, practice, creativity, and a deep understanding of complex financial concepts. It’s like teaching—anyone can teach, but being a great teacher requires passion, creativity, and the ability to engage students so they don’t end up with drool on their desks.

You won’t fall asleep in my class, I promise. This is how I plan to make up for last week’s missed opportunity—I’ll keep you engaged, informed, and in the zone.

Let’s Connect—It’s Free, and the Value is Priceless

When you need mortgage advice, give me a call. It’s free, and the value you’ll gain is immeasurable. I’m here to ensure you get the best possible service, whether you're buying your first home, refinancing, or simply looking for better mortgage rates.  Don't want to talk to me?  I have an app for that!  Check out the mortgage app that will help as well!

Reach out today, and let’s start building your financial future together.

By: Michael Richmond

Being fair, privileges, and how I almost died from dehydration.

I grew up with an overdeveloped sense of fairness, mostly stemming from my little brother and I competing on almost everything.  As a result, many things seemed unfair but only a couple things raced my engine compared to my friends.  Yes, I was frustrated having to sit at the front of the bus so the driver could keep an eye on me.   Nothing more than a smile, and she suspected I was up to no good at all.  It must have been the gleam in my eye! 

In those years, after recess the teacher would be guarding the water fountain.  We called her the water Nazi, as you could not mess with her system.  You stand there in line waiting patiently till it was your turn and even before the water hit your mouth she was counting to five and heaven help you if you did not walk away when she said FIVE!  How much can you drink from a little stream of hardly pressurized water in that time frame?   What is my issue you ask?  This is the only fair way to ensure everyone gets the same and everyone gets a turn.  I am not a fan of communism!

Why did I think this was a load of bull?  Some boys were sitting reading comic books or trading cards, and some girls were playing with their dolls or playing marbles.   ME?  I was running, playing football, soccer, wrestling, and being chased by much older girls who sometimes wanted to beat me up, and other times just wanted to kiss me.   I was so very easy on the eyes back then.   Toot, Toot!  Yes this was me blowing my own horn.  I often say that if you don't blow your own horn there will be no music.

Now I ask you, why would we all get the same amount of water, if we were not all doing the same activities?  How is that fair?   I wanted things to be fair, and I had sweat dripping down my forehead, should I not at least get an 8-second count for water? 

I still hold that philosophy dear to my heart, and it encompasses my clients as I expect they should be treated fairly and have all that is available to them.

How do I really define fair for my clients?   Not just ensuring they have options from all the lenders, but making sure they understand the fine print associated with that rate and product.

If the mortgage rate is five seconds, then the fine print is the rest of the equation.  Yes, it's the job of a mortgage broker to help you watch the fine print!  If you are focused just on the 5 seconds all else falls away.  A mortgage broker can help you focus on mouth placement, suction, angle, approach velocity, stopping power, the pull away, and angel and trajectory of the water flow with the mutual goal of getting your fill of as much water as possible.

It's true that securing a low interest rate can take years off your mortgage, but equally important are the terms of your contract. If you are just looking at the rate, what is in the fine print?  Can you transfer the mortgage?  Can you port the mortgage?  Can you pay it down any faster?  

This is where an experienced mortgage broker can make a difference.  The review of any restrictions or potential penalties on the mortgage that often end up costing you far more than a small rate difference.

Should you care about transferring and porting your mortgage?

If you read a post or two ago, we talked about how porting as an option is fundamental in making sure you can take your rate with you.  Yes, this is all the more important if the rates on the market currently are higher than what your mortgage rate is.

Why would you care about Prepayment privileges?

Mortgage Prepayment privileges go a long way toward paying off your mortgage faster, but you cannot pay off as much as you like whenever you want.  Yes I know it seems so unfair, however most mortgages limit how much you can pay off early because it decreases how much money the bank can make, or thought they were going to make.

In the fine print are mortgage payout penalties.

Mortgage payout penalties for a no-frills basic mortgage can be a percentage of the outstanding mortgage.  3% to break the mortgage early should not be taken lightly as this can be very expensive.  They could be based on the bond rates, or interest rate differentials from posted to what you have.  It could be a collateral charge mortgage, and all these factors can change how much you pay out by large amounts.

Every lender is different with their own take on the rules, and each with different investors to answer to.  If the average mortgage planner deals with over 50 lenders, you should know that each one has a product lineup of mortgage products that range in short-term, long-term, variable, cash back, open and closed. Having over 300 mortgage products at your disposal allows you to put every unique client into a product that is best suited to their needs. Knowing it's easy and dependable will have you back doing what you love as soon as possible.

This way, when you hear about the 5-second rule you know it's more than just how long food can be on the floor, or how long a child that feels like he is stuck in the middle of the Sahara, can drink from a fountain.  The rules put forward are the same for everyone, but how we structure, where we submit, and how we use those five seconds are so very important.

Get it touch with me at 403-807-8779 if you want to make the most of your 5 seconds.