Brokers comment on acquisition

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It was another feather added to the cap of the country’s largest network, one that industry professions are saying points to the strength of the industry.

Dominion Lending Centres acquisition of Mortgage Architects “is good for us; it gives us a bigger presence in the industry and more clout with lenders,” Walter Faria, a mortgage agent with Mortgage Architects, told MortgageBrokerNews.ca. “It’s nice that we now have the backing of DLC.”

The broker network announced the acquisition of Mortgage Architects early Monday morning. The deal was finalized on New Year’s Eve 2015.

DLC claims it now boasts close to 40% market share, with a combined $32 billion in annual mortgage volume. It also claims it is now the largest mortgage originator in the country, ahead of all other networks and major banks.

That chunk of market share is made up of Dominion Lending Centres brokers, Mortgage Centre brokers, and Mortgage Architects brokers.

And it isn’t just MA players who hare applauding the biggest acquisition the industry has seen in years.

“Congrats to Gary (Mauris) and (DLC founder) Chris (Kayat); these two gentlemen know the best way to prove you really are committed to an industry is to write a big cheque,” Ron Butler, a Verico broker, wrote in response to the original news story. “They have purchased a great company with a fantastic group of agents and brokers.

“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.”
  • Blair Goodman on 2016-01-05 9:58:30 AM

    With this acquisition DLC will be positioned to add further value to the consumer and the mortgage brokers within it's organization. This could truly be a paradigm shift for the entire industry given the shear volume of transactions. How will the big 5 react now?

  • Bob on 2016-01-05 10:13:44 AM

    I left DLC a few years back, as I didn't agree with their vision or business practices. I now find my new year starting looking for a new company. Sometimes less is more.

  • James on 2016-01-05 11:51:23 AM

    I get your point Bob. There is a right way to do things. A point DLC sometimes misses. It isn't always about size and money. Sometimes its about having a conscious and being able to look in the mirror.

  • keith on 2016-01-05 12:22:03 PM

    One apon a time there was another brand that held close to 40% market share, long before the days of DLC. The people in this brand became disillusioned... and then started CENTUM, VERICO, Mortgage Architects, Axiom, and yes... DLC. History has a tendency to repeat itself.

  • Anthony C. on 2016-01-05 12:32:36 PM

    @ James...

    Can you elaborate on what you mean by your comment on the lack of conscience pertaining to the DLC network...? I m curious to know what exactly that implies.

  • Jeremy on 2016-01-05 7:15:12 PM

    Congrats to all DLC associates as it is their marketing bucks that have helped facilitate this purchase. Congrats to Gary and Chris! They have purchased brands that were on the brink of collapse and will hopefully be able to breathe life back into both brands. Soon they will all be working for a big bank. I say that because the best time to sell is at the peak and the peak has arrived.

    Personally, DLC is an expensive place to operate and not to mention the crazy contract. If the brand is as good as it believes it is, why the need for 7 year contracts? Favouring some brokerages over others by offering cash incentives...I'm not someone who can be bought.

    That said, I do wish them all the best.

  • James Co on 2016-01-05 10:51:53 PM

    This is great for both parties; great for the consumer and the industry. Congrats.

  • Anthony Contento on 2016-01-05 11:24:58 PM

    Its always best to give everything a chance. Nothing changes , its business as usual. Gary made sure he was the investor to jump on a great company like MA. If History has to repeat itself , it wont be because of any mergers or market share. As agents we all have options. We will give this acquisition a fair chance to either sink or swim. Knowing Gary and many under the MA brand , we all know how to float . Time will tell..

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