Exhibit A
Mortgage Brokers work in Ontario
Ontario holds the largest concentration of mortgage brokerages and agents in the country, and the search demand follows the population: the Greater Toronto Area, Ottawa, Hamilton, Kitchener Waterloo, London and the commuter towns around them each carry their own volume of people looking for a broker, a renewal, a refinance or a first mortgage. The paid search on terms like mortgage broker Toronto or mortgage rates Ontario is competitive, which tells you the organic demand underneath it is worth having. The market is a mix of franchise networks with recognizable names and a large number of owner operators and small brokerages working a single city or region. A broker in Mississauga is not really competing with a broker in Sudbury for the searches that matter, and the local searches are where a smaller firm can hold ground.
