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Len Lane, founder of Brokers for Life Inc., sits down with Shawn Jewers, Business Development Manager for MCAP Mortgages, to discuss the massive wave of mortgage renewals coming between 2025 and 2027. They break down the two types of mortgage transfers—standard and collateral—and why understanding the differences is crucial for brokers and homeowners alike. Shawn highlights the role of First Canadian Title (FCT) in the transfer process and explains how virtual signing can streamline transactions. The conversation also covers key industry insights, including the impact of grandfathering rules on insured mortgages and the potential savings that borrowers can access when qualifying at contract rates.
As the mortgage industry braces for this significant renewal period, Len and Shawn stress the importance of brokers staying informed and prepared. They discuss valuable tools such as MCAP’s transfer matrix, refinance calculator, and switch transfer template—all designed to help brokers navigate renewals more efficiently. Brokers are encouraged to attend quarterly MCAP webinars and ensure their clients stay responsive to communications from FCT for a smoother transfer experience. With a rapidly evolving market, this episode provides essential insights to help brokers and borrowers make the most of their mortgage renewals.
About Shawn Jewers
Shawn Jewers is a seasoned mortgage industry expert with over 20 years of experience in various facets of the field. Beginning his career at CMHC as a VDM, Shawn has developed a deep understanding of mortgage lending, underwriting, and market trends. Currently, he serves as the Business Development Manager for MCAP Mortgages, one of Canada’s leading mortgage lenders.
Throughout his career, Shawn has been a trusted resource for mortgage brokers, offering insights into mortgage transfers, refinancing strategies, and industry best practices. He is known for his expertise in differentiating standard and collateral transfers and for his ability to guide brokers in optimizing client solutions. With a strong commitment to education and communication, Shawn plays a key role in helping brokers navigate the evolving mortgage landscape, ensuring they are well-equipped to provide value-driven advice to their clients.
Resources discussed in this episode:
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Contact Len Lane | Brokers for Life:
- BrokersForLife.ca
- Linkedin: Len Lane
- LinkedIn: Brokers for Life
- Facebook: Brokers for Life
- X: @Brokers4Life
Contact Shawn Jewers:
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Transcript
Len 0:02
Welcome. My name is Len Lane, and I am the founder and president of Brokers for Life Inc, and we are Dominion Lending Centers in Western Canada. The topic of our podcast will be about what we consider to be Real Life Mortgage Solutions. So welcome back. We are here today to talk about probably one of the biggest events that’s going to happen in this decade as far as the mortgage industry goes from 2025 through to 2027. We’re going to see nearly a trillion dollars worth of mortgages come up for renewal. We always hear the stat that that’s 60%. Well three years out of our five year terms is 60% regardless. But this time around, it’s some big numbers. We’re already seeing the effect of it. I personally don’t chase business, but I’ve already done my seventh file this year. I’m on already worn out already. So my guest today is Shawn Jewers. He has been in our industry in a few different facets over the last 20 some years. Looks like starting out with CMHC as a VDM, and today he is here as the business development manager for MCAP Mortgages. They are a Vancouver based, Toronto based, I guess, Toronto based, lender that we do a lot of business with. So Shawn, welcome. Welcome to the podcast.
Shawn 1:26
Well, I appreciate it. Len, I really enjoy getting the invite to do this. We’ve been working together for it’s been 14 years, and it’s been amazing to see how you’ve grown Brokers for Life and the brokerage and your own business. So your reputation precedes you, and I’m really excited to get this going today, but you’re right. I think there’s a nearly a million Canadian borrowers renewing just in 2025. It’s a staggering number.
Len 1:53
It is. And you know, there’s a crazy stat out there that says 85% of Canadians ought to renew their mortgage without ever checking to see if there’s a better rate or or better option for them, for their their next five year plan or, or whatever, how many years they plan to have a mortgage, I guess. So let’s talk about what exactly switches are and the different types of switches.
Shawn 2:17
Yeah, there’s, there’s going to be, like we’ve said, a tremendous amount of opportunity for mortgage brokers to give some good advice. So I think understanding the marketplace and having great communication skills and the ability to talk to your homeowners is gonna be a key to winning more business. And the first part is understanding that there are two types of transfers. So there’s the standard transfer, it’s an existing registered mortgage, and its assignment gets switched to, let’s say, in this case, MCAP, without changing many of the terms. Whereas a collateral, it’s a little different, the existing mortgage is discharged and they’re replaced with an MCAP mortgage. So knowing how to identify the two differences is probably the best starting point, and it’s actually one of the questions I get most often is, how do I tell if it’s a standard or a collateral? So my two bits has always been, pull registration, check out form B, and then, usually on page two, you can see that there’s some questions on there. And if the question is, if this is a running account, odds are its collateral mortgage, if there are specific mortgage details, like the terms, the amortization, then that’s a good indication that this is a standard transfer or standard register. So that’s how you can kind of start that process off.
Len 3:39
Right. And one of the things we always teach in in with with switches, first off, don’t be cheap and go spend the $10 bucks on the title, then spend another $10 on actually getting the registered documents on that title. That term, standard mortgage. I’d love to see that one. That’s a simple one, but a couple of other words that that show up in those of course, are on demand, right? Once mortgage is on demand, it’s most likely has a portion or is set up as a collateral.
Shawn 4:07
100%. Yeah, the other key term that you see sometimes is see schedule in the absence of mortgage details. So, yeah, those are some of the key things you want to pick up on those titles.
Len 4:17
Yeah, definitely. You know, simple process when it’s straight switch, obviously we can they seem to take very little time, but yet to be a little more in depth w…
