AMC Canada

In November 2008 Art Ricknauth opened his own Toronto-based mortgage brokerage firm, Art Mortgage Camp Inc. (www.artmortgagecamp.com)

“We deal with over 30 different institutional and private lenders and shop around to find the best deal and product for our clients,” explains Art. “Each client has a different situation so we find the right lender and mortgage to meet their specific needs.”

Art has a diverse background and range of experience that he brings to the table. He has an MBA, with a focus on finance, from York University and graduated with High Honours from the Financial Services Underwriting (FSU) certificate program at Seneca College, Toronto. He also has a Master of Science Degree in Aerospace Engineering and a Private Pilot’s License.

He spent eight years working in operations, customer service and sales at Royal Dutch Shell, then as an independent Mortgage Broker, before opening AMC Canada.

AMC is specialized in both Residential and Commercial Mortgages. Their clientele is based throughout Ontario and the services offered include purchases, refinancing, renewals, debt consolidations and lines of credit.

Art says there are various benefits to working with a Mortgage Broker, as opposed to doing your own shopping around for a mortgage.

“There are many lenders out there beyond the five big banks but they don’t deal with individuals, only mortgage brokers, so I can offer many more options for clients,” explains Art. “I can find lenders and products that may be available to some clients despite their income or credit history. For example, for those who can’t qualify for institutional loans, there are private investors who will lend with certain collateral. Banks have only four or five mortgage products available, but I deal with 30 lenders and all their various products are available to my clients.”

Furthermore, if you go to a bank to apply for a mortgage, they pull your credit report. If the application is declined and you go to another bank, your credit file is pulled again. Art explains that each time a lender accesses this credit information, it goes on your record for four years and it affects your credit rating. This can prevent you from qualifying for a more attractive mortgage product.

“As a mortgage broker, I pull one credit report and can take that one document to ten or more different lenders, so this saves you from having multiple hits on your credit report and lowering your score,” explains Art.

As well, Art Mortgage Camp works around their clients’ schedule. Art meets with customers early in the morning, in the evening or on weekends, so they don’t have to take time off work.

AMC is a new company but it has steadily built a long list of clients based on referrals from satisfied clients. Art says this is because customer service is a priority.

“In this business many consumers have had bad experiences and they want to work with a mortgage broker they can trust,” he explains. “I do my best to represent my clients’ interests, as well as respecting my responsibility to lenders. Honesty, professionalism, confidentiality and good customer service are all important to me.”

These are also the qualities Art expects in the suppliers he deals with.

When initially moving into their office space, the previous tenants recommended Allstream Small Business as a phone provider.

“They gave the company a good review in terms of price and service so I decided to give them a call,” says Art. “I found that Allstream Small Business’ prices were significantly lower than the fees quoted by the competition. When you start a company you have to keep your costs down, your cash flow is important, and Allstream Small Business understands that.”

He also found while shopping around that some telecommunications companies don’t offer services designed to meet the needs of smaller businesses. Their packages of services were way too big and beyond the scope of a start-up company like AMC Canada.

But Allstream Small Business Bundles are specifically targeted at smaller companies, allowing customers to choose a package customized to their size and current requirements. Art says that this gives AMC a cost-effective and flexible communications package.

“With some providers you have to buy a sledge hammer to kill an ant, so to speak,” says Art. “Allstream Small Business offers services that are tailored to small companies and at prices they can afford.”

Furthermore, some of the other telecommunications providers insisted that AMC Canada commit to a three-year contract.

“I wasn’t comfortable with that,” says Art. “With Allstream Small Business I have just a one year contract.”

AMC Canada purchased a basic Phone 500 bundle, with two phone lines (with two calling features of their choice) and 500 free North American long distance minutes. It also includes a business listing in local White and Yellow Pages.

These are all the services AMC Canada requires at the moment, but as the company expands, Art can upgrade to a larger package, or add on to the bundle by purchasing individual phone, fax, Internet or long distance services. He can build his own telecommunications package based on AMC’s needs.

Art points out that with clients throughout Ontario, the long distance minutes included in the bundle are another substantial saving and value-added feature of Allstream Small Business’ solutions.

“The 500 minutes cover all my calls so I don’t pay any long distance fees,” he says. “Overall I am getting great service at a great price.”