Broker network announces acquisition of a major competitor

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Dominion Lending Centres has acquired Mortgage Architects.

The broker network will now boast close to 40% market share, with a combined $32 billion in annual mortgage volume.

Dominion Lending Centres is thrilled to welcome Mortgage Architects and its team into the DLC family,” Gary Mauris, president and CEO of Dominion Lending Centres, said in a release. “Since its inception in 2005, Mortgage Architects has been a strong brand in the Canadian mortgage space.

“They’ve been very technology focused and developed some very comprehensive and powerful systems,” Mauris continued. “We look forward to sharing our best practices with them, but also learning how we can better serve our clients and our accredited mortgage professionals.”

According to DLC, the acquisition will now position it as the largest mortgage originator in the country, ahead of all other networks and major banks.

This is the second major acquisition by the broker behemoth, following a similar purchase of the Mortgage Centre in 2013.

Mortgage Architects, like MCC, will continue to be run alongside Dominion Lending Centres.

“On behalf of the team at Mortgage Architects, we are so excited to join the Dominion Lending Centres group,” Albert Collu, president of Mortgage Architects, said. “DLC is an unquestionable leader in the Canadian mortgage space and I know that our network of accredited mortgage professionals will thrive working alongside DLC.”

The closing date of the transaction was December 31, 2015.
  • Ron Butler on 2016-01-04 11:31:14 AM

    Congrats to Gary and Chris, these two gentlemen know the best way to prove you really are committed to an industry is to write a big cheque. They have purchased a great company with a fantastic group of agents and brokers. I know there are those who may think the cost was too high but as a great CEO once said "no company ever shrank their way to greatness" Betting big on the future of the mortgage brokerage business is a huge complement to all of us who help clients with their home financings every day. Best wishes to all involved.

  • Chris Kayat on 2016-01-04 12:00:07 PM

    Hey Ron thanks for the kind words. We are very proud of this acquisition and very committed to the Mortgage Broker Space. Happy New Year may 2016 be Healthy, Happy and Prosperous for You and Family.

  • Gary Mauris on 2016-01-04 12:00:19 PM

    Thanks Ron for the kind comments! We love this space and think the future is bright! MA is a terrific company with a very talented roster of agents and owners. Getting great feedback from everyone including our terrific lending partners.

  • @kiltedbroker on 2016-01-04 1:10:17 PM

    Wow, exciting news to start to 2016! Congrats to everyone involved! I am very interested in seeing what this looks like for the industry! What a huge force!

  • Top Mortgage Broker on 2016-01-04 1:10:36 PM

    DLC is a force to be reckoned with! Their size will provide real advantages and benefits to their borrowers and brokers.

  • steve kates on 2016-01-04 1:53:31 PM

    good luck with your new purchase

  • Dave on 2016-01-04 4:14:26 PM

    If DLC has around 40% market share , does anyone know the approximate market share of other brokers currently? Just wondering who is the next biggest ....

  • Ron Butler on 2016-01-04 5:25:57 PM

    Verico would be next with about $12 -$13 billion followed by Invis/MI I would think.

  • Curious Broker on 2016-01-05 1:32:20 PM

    Now that the MA sale is finalized...what is happening with Radius?

  • Ron Butler on 2016-01-05 3:13:51 PM

    I think we may hear about Radius in the next few weeks. It is a somewhat more involved transaction. In the case of MA it was a pure divisional intact purchase. Everything stayed in place just new owners.

    At Radius there has to be some level of integration to sort out even it is is small scale integration and there may also be some regulatory input that moves fairly slowly.

  • Dustan Woodhouse on 2016-01-05 8:40:56 PM

    There is a lot to be said for being part of an organisation on the move and on a mission.

    No doubt each of the brands will stay distinct, but even just a slight underlying feeling of solidarity among 4200 Brokers can be a powerful thing.

    To sum up in one word how Brokers go to 70% market share from 30%; together.

    Great move Chris & Gary!

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