DLC launches white-label HELOC mortgage

DLC launches white-label HELOC mortgage

Dominion Lending Centres added to its white-label product roster this week with a new HELOC mortgage that pays trailer fees.

"Our mortgage agents asked for a Dominion Mortgage HELOC and we were able to deliver an exceptional product," said DLC president Gary Mauris. The commission structure for the product includes an upfront payment plus trailer fees, which  follow the originators even if they decide to leave the Dominion network.

The new HELOC mortgage - the eighth white-label product DLC has launched since April 2008 - is similar to other fully readvanceable mortgages on the market and consists of a fixed rate portion for the mortgage plus a revolving line of credit.