Profile: Amina Mohamed of The MPC (Mortgage Processing Centre)

Based in Newmarket, ON, Amina Mohamed exhibits remarkable versatility as both a real estate investor and a residential/commercial mortgage broker. As a broker, she specializes in providing customized financing options for a broad range of consumers.

Tell us about yourself, in light of your recent nomination for the 2017 Investor Forum “Mortgage Broker - Investment Specialist of the Year” award.

I’ve been in the industry for around three and a half years, and I work primarily with real estate investors both in Canada and in the United States. I also assist non-resident investors, who are Canadian citizens and who live and work in Singapore, Abu Dhabi, and Dubai as they cannot purchase where they live as they don’t have residency so they invest in Canada as this is the safest place to put their money and also they can start rebuilding here when and if they decide to move back.

I offer residential, commercial, and private lending to my investor clients.

When I started, I really wanted to set myself apart, and that’s basically why I started venturing into all of these different areas and offering different options to my investment-focused clients.


How did you end up working with investors?

I was an investor before I got involved in the industry as a mortgage broker. I was meeting many people who couldn’t qualify for mortgages or even for rent-to-own. And then somebody said to me, “Hey, you know what? You should look into mortgages.” I had a background in film and television as a production manager/producer working with budgets and analysis, so it just seemed a natural fit. At the beginning, I didn’t really know where I was going, but this ended up being my niche because I was already an investor.

I also strongly believe that the people you work with will have an effect on you. I was fortunate to be trained by Claire Drage [of Mortgage Alliance]. I believe she was instrumental in helping me get to where I am right now, as she trained me on what to be aware of when it comes to investors.  Furthermore, if you don’t get good training in this business, you really can’t survive as it’s not about your split but rather what skills and training you can get from that broker.


What are the kinds of investors that you usually encounter?

Basically, people who are looking to purchase single-family, multi-family, commercial properties, U.S. properties... Right now, I’m working with an investor who is looking to purchase in Jamaica, and another one who is looking to invest in Mexico. I am also redirecting my focus to assist investors in both Canada and U.S. who have access to affordable mortgage products in the U.S. It takes more work and diligence to find solutions for them, because obviously Canadian lenders are not going to lend to these people. I like that, as it requires a bit more out-of-the-box thinking to find the appropriate options.


Any difficulty in interacting with your widely varying clientele?

For instance, in the case of non-residents—who are Canadian citizens but are currently working abroad—the challenge for them is that in the countries they work in, they are only allowed to work, not to invest their money. They can’t do anything with that money, so when it’s sitting in the bank earning nothing, their best option is to obviously invest back home, because when they do decide to go back, they will have something to move home to.

For these investors, because they are not in the market every day, they don’t necessarily have the knowledge or the tools on where to invest, so it’s about educating them and providing the information which will help them make the decisions that work best for them—i.e., the lack of supply versus demand and the mortgage qualification rules that can affect their goals to invest in Canada.

When it comes to culture, they’re fundamentally still Canadians, so it’s not really a matter of cultural clash. The breakdown happens in the type of paperwork that is not acceptable, because in some of those countries, they don’t have credit, nor do they file taxes there or at home. Really, the challenge is working with what paperwork these clients can get.


What is your advice to young upstarts who are looking to emulate your path?

I believe it’s important to get involved with a mortgage broker who works in your desired segment. Learn from another broker who is already doing the same thing. When I started in mortgages, I ended up with a broker who wasn’t investor-focused at all. It’s only through learning and constantly meeting new people that you get to know who you want to be like, and Claire was that for me. I was with her for over a year and a half, and I learned everything I needed from her.

Be like a sponge; keep on taking in the best of what’s around you, because things change all the time. Stay on top of industry developments, because investor desires and preferences constantly change. It’s about continuously learning and getting proper coaching, which will help propel you forward.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

COMMENTS

  • by 2017-03-27 11:18:00 AM

    So how does a Mortgage Broker that is Licenced to arrange Mortgages only in Ontario, arrange Financing for people who are Purchasing and Financing properties in Jamaica, Mexico, the U.S. or even other Provinces within Canada ? Also I find it strange that after 3 1/2 years as a Mortgage Broker and a background in the Film Industry, she ( and CREW ) would consider her an "expert" in Investor Financing. I have been in the Brokerage business since 1988 and also have 16 years of Banking experience, to go along with a University Degree, and I wouldn't consider myself an "expert" in this field, even though I have arranged many Investor Mortgages.

  • by Sue Hanson 2017-03-28 5:47:38 AM

    The best thing about Amina is her dedication to her clients and how she treats their investments with the respect they deserve. She's not going to advise you about what works best for her, she's going to guide you on how to make the best financing decision to suit your investment objectives. I highly recommend Amina.

  • by Ameera 2017-03-29 4:24:34 AM

    Amina is a broker that have sent me files in the past for financing and her diligency and analytical strength expedited the process which many brokers of over 10 years of experience are lacking. I'm speaking from having 16 years of hands on experience as a broker and lender. I certainly do not believe that X amount of years in the industry speaks to anyone expertise but access to resource, structuring of files, being analytical, diligent and providing solutions contributes to the expertise of a professional and I found Amina to be one of such associate in the industry.

    I'm very proud of you in this short time, you've accomplish so much and knows how to think outside the box and expanding your horizons. Reminded me of myself when I started. Keep up the outstanding work and leading the way my dear.

    Best Regards,
    Ameera Ameerullah, CEO
    www.cmfg.ca

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