Mortgage Summary: 76% of new immigrants are afraid of making money mistakes, and this is an opportunity for brokers to step up
More than three-quarters of new immigrants in Canada are worried about making financial mistakes, and more than half say they work hard to manage their financial situation upon arrival.
This is based on a new TD survey that highlights the uncertainty many, many people face when browsing the new financial system.
“Building a life in a new country can be exciting and overwhelming,” said Janice Farrell Jones, senior vice president of TD’s daily banking, savings and investment. “New immigrants are under pressure to adapt to Canada’s new lifestyle while quickly gaining their right foot financially – from understanding bank products and services to budgets to budgets for living and future goals while maintaining financial ties with families living abroad.”
Where can a broker make a difference
The study found that one-third of new immigrants had little understanding of how the Canadian banking system works. Half of the reports have limited knowledge about investment, and many believe they are not ready to make informed financial decisions. Many also express uncertainty about financial support for long-term goals such as credit, banking, and how to gain ownership of a home or entrepreneurship.
These findings suggest a growing demand for clear, trustworthy financial guidance. For mortgage professionals, this is an opportunity to help bridge the gap by providing advice in simple language, helping clients understand credit work in Canada and building trust through education and support.
“Newcomers bring incredible motivation and ambitions, but many are browsing the financial system they are still learning to understand,” said Lauren Van Den Berg, president and CEO of Mortgage Professionals. “This is a real opportunity for mortgage professionals to serve as a trusted guide to not only delivering products but also education and support that can make a lasting impact on someone’s financial journey in Canada.”
TD pointed out that supporting new immigrants is not the bank’s task. “We believe there is an opportunity for Canadian finance and the entire company to help build new and established successful newcomers,” Jones said.
Van den Berg said mortgage professionals play a role by providing informed, accessible advice to clients who are still learning the Canadian financial system.
New immigrants looking to connect with a licensed mortgage broker can access MPC’s FindMeaBroker.ca tool, which helps users match professionals in the area.
Sagen releases $111 million in net income, seeing pressure on underwriting and investment yields
Sagen MI, Canada, had net revenue of CAD$111 million in the second quarter of 2025, down from US$151 million in the same quarter last year. The company said the decline was due to lower net insurance services and reduced investment income.
Net insurance services results are a key measure of underwriting profitability, counting to $102 million, compared with approximately $143 million in the same period last year. The decline reflects increased financial expenses and higher operating costs. In terms of investment, total revenue declined due to weak market returns and smaller returns on fixed income and derivatives holdings.
Despite the decline in profitability year-on-year, Sagan’s capital status is still strong. By the end of the second quarter, the company reported a MICAT ratio of 184%, which is well above its internal target of 157%, with OSFI’s minimum oversight of 150%. The investment assets totaled approximately US$6.3 billion, and the investment portfolio lasted for 3.2 years.
MPC 2025 Mortgage Hall of Fame nomination deadline
Canadian Mortgage Professionals are accepting their nomination for the Canadian Mortgage Hall of Fame 2025 and submitting a deadline on Friday, August 15.
Annual recognition aims to make a lasting contribution to the industry through leadership, guidance and service.
This year’s inductees will be recognized at the National Mortgage Conference held in Ottawa on Monday, October 20. Nomination criteria and submission details can be found here.
Mortgage arrears remain stable in May
According to the latest data from the Canadian Bankers Association, the number of mortgages in Canada remains stable, reaching 11,058 loans, accounting for 0.22% of all residential mortgages.
Saskatchewan continues to issue the highest arrears at a tax rate of 0.53%, followed by Manitoba’s 0.33% and Canadian Atlantic arrears at 0.27%. Alberta is also located above 0.26% of the national average.
Meanwhile, Quebec (0.18%), British Columbia (0.20%) and Ontario (0.21%) remain at or close to national level.
Although the amount of debts arrears is more than a month, the historical level remains low, well below the current 1.52% mortgage rate in the United States
Four winners awarded $15 million in CMHC’s Housing Supply Challenge
Canadian Mortgage and Housing Corporation has awarded $15 million to four winners of the Housing Supply Challenge Game Change Award and recognized innovative projects aimed at accelerating housing development nationwide.
The highest honor is Promise Robotics, which is developing a “robot factory as a service” platform to expand industrialized housing construction. Three silver recipients also received funding: Tapestry Community Capital, MDDL and a bowl for projects focused on financing, ecosystem development and sustainable materials.
The game-changing award is part of CMHC’s $300 million housing supply challenge, which aims to find and provide creative solutions to housing production barriers. So far, the federal government said it has committed to paying more than $65 billion for housing outcomes as part of its national housing strategy.
Next step: Career actions in the mortgage industry
The “Next Step” is a feature in our mortgage digestion that highlights significant changes and career developments within the mortgage industry. If you have a job update, we welcome your submissions to keep the community circular.
Manulife Bank appoints Marco Beauregard as Business Development Manager for the Quebec Broker Channel
Manulife Bank announces the appointment of Marco Beauregard as the Quebec region’s business development manager channel.
Marco has over 30 years of experience in the mortgage industry (including 18 years in Canada FNF Canada), and his in-depth expertise, professionalism and commitment to delivering results. His contributions have earned him multiple industry honors, including BDM and the 2023 Partner of the Year Award, highlighting the strong and lasting relationships he has built with partners, clients and colleagues.
Marco also played a key role in shaping the mortgage environment through his 17-year service on the Board of Directors of the Association of Mortgage Partners (APH), and he continues to advocate for best practices and industry advancements.
Marco is known for its integrity, warmth and enthusiasm for the business, bringing a collaborative spirit and a customer-first mindset to every interaction.
Bluroot named Maryah Diulia as Sales and Marketing Manager
Bluroot has promoted Maryah Diulia to sales and marketing managers, and her contributions since joining the team in December 2021.
In her expanded role, Diulia will continue to lead sales conversations, shape marketing strategies, and work closely with customers and partners to drive growth.
She believes that the large team encourages her development and supports her leadership journey.
EQ Bank promotes Rizwan Qureshi as sales regional director
Rizwan Qureshi has been appointed regional director of sales at EQ Bank, who has served as lender for more than a decade.
Qureshi started his career as an underwriter at EQ before joining Business Development Manager, and he is known for his strong broker relationships and a solution-centric approach. In his new leadership role, he continues to empower mortgage brokers with tools and products to help their clients succeed.
Qureshi brings nearly two decades of experience in the mortgage industry, including previous roles at Home Trust, CIBC, AGF and PC Financial.
FSRA appoints Antoinette Leung as EVP, Marketing Conduct
The Ontario Financial Services Regulatory Authority (FSRA) has appointed Antoinette Leung as executive vice president of market behavior, starting from August 1, 2025.
Leung spent more than five years leading FSRA’s financial institutions and mortgage broker behavior division, where she played a role in modernizing regulatory oversight. She has a strong track record in financial regulation, public services and collaborative leadership.
In her new role, Leung will oversee the market behavior of FSRA regulators to help advance consumer-centric regulation and FSRA modernization efforts.
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Last modified: August 1, 2025
