BREAKING NEWS: Mortgage Architects acquires Argentum

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MortgageBrokerNews.ca has just learned that Mortgage Architects has acquired Argentum Mortgage and Finance.
 
A press release issued minutes ago by the CEO of the Pacific Mortgage Group, Ron Swift, announced the acquisition, along with the appointment of Albert Collu as the new president of MA.
 
“The acquisition of Argentum is in line with our long term growth initiatives,” said Swift. “We are focused on building a large distribution network to line up with our manufacturing capabilities on the lending side; the purchase of Argentum will be integral to our long term growth.”
 
Collu, past president of IMBA and founder of Argentum, will now head up Mortgage Architects.
 
“Albert’s vision is very much aligned with Mortgage Architects leadership,” said Swift. “Albert possesses great business acumen and will be a strong advocate for the broker channel and for communicating Mortgage Architect’s value proposition in the marketplace.”
 
Argentum Mortgage brokers will re-brand under the Mortgage Architects label with the full transition expected to be complete by the first quarter of 2014, said Swift.
 
According to Collu, the acquisition of Argentum will help Mortgage Architects leverage their broker/lender structure.
 
“The bringing together of Argentum and Mortgage Architects will position the organization as a formidable presence in our industry and create significant momentum,” said Collu. “The unique and compelling model and structure at Mortgage Architects will support our brokers and give them a dynamic path for growth and opportunity in the industry.”
 
The acquisition will add 500 brokers from Argentum to Mortgage Architects.
 
  • Steve on 2013-07-23 8:23:36 AM

    Both Albert and Ron are class acts and will form a great team. Good job.

  • Ron Butler on 2013-07-23 9:00:59 AM

    Good luck to all involved. Good people joining with good people. The next couple of years will prove interesting. When an industry is growing there is room for more players at different size tiers. A shrinking broker space requires consolidation.

  • Mohamed Manzoor on 2013-07-23 10:16:46 AM

    Great Partneship. All the best to both Ron and Albert.

  • @kiltedbroker on 2013-07-23 11:01:37 AM

    Love to see proactive moves in our industry. As the market changes, I agree with Ron Butler, consolidation is necessary.

    Well done everyone involved... all the best!

  • len lane on 2013-07-23 11:04:45 AM

    I think it just proves how hard it is to be a small brokerage in this business any more. From a business point of view if your not in the multi billion dollars of mortgages funding then its hard to get noticed. Albert and Ron are both sharp business men and I'm sure it was a win/win situation.

  • Mal Eccles on 2013-07-23 11:38:56 AM

    Congratulations Gentlemen, a good merger.

  • The Mortgage Sisters on 2013-07-23 1:39:01 PM

    Congratulations Albert
    We wish you all the very best..
    Deb & Kelly

  • John on 2013-07-23 3:03:34 PM

    @Len I work with Argentum. We are Not small. we are over 550 Mortgage brokers and do over $3.0 Billion per year. I like this deal for us because from my understanding combined entities will be close to $8.0 Billion per year. That is Top 3 in Canada behind DLC and VERICO.

  • len lane on 2013-07-23 7:40:03 PM

    Sorry John didn't mean to offend you but in what is probably a trillion dollar industry we are all small potatoes which is what we need to work on glad to see two smart business men working it out.

  • Robert Stanfield, INVIS on 2013-07-24 9:12:53 AM

    Hey John, sorry, this merger still won't put you in the top 3, you forgot about Invis/MI.

  • Gord on 2013-07-25 2:02:51 PM

    and Mortgage Alliance and probably Axiom and TMG.

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