8Twelve surpasses 0 million in funded private mortgages after just four years

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CEO Gary Fooks (pictured top) was most proud about the fact that even after funding over $100 million of private mortgages, 8Twelve has “never had to put a for-sale sign on a borrower’s front lawn” due to mortgage default.

“Zero – we’ve done zero power of sales,” Fooks said. “This works well for our borrowers and our investors, leaving both parties satisfied with the transaction.”

8Twelve acts as a one-stop financing solution for all mortgage needs. It identifies the best possible mortgage from across Canada’s market of bank, alternative, and private mortgage products and uses proprietary originations tech to ensure borrower suitability in the private mortgages it funds. 8Twelve considered its unique capacity to provide visibility to successfully exit private mortgages at maturity its primary competitive advantage, supported by its driving principles of (1) solving short-term problems, and (2) ensuring a proper exit strategy.

Earlier this year, it was named an excellence awardee in two categories at the 2022 Canadian Mortgage Awards – brokerage of the year and digital innovation in a brokerage.

Read more: How can a brokerage ensure service efficiency?

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