FirstLine closure bolsters MCC's appeal

FirstLine closure bolsters MCC's appeal

CIBC’s shutdown of FirstLine appears to have done little to stem the flow of brokers looking to join the Mortgage Centre, said the network’s president, pointing to an unbroken chain of inquiries.

“Despite all the talk and buzz about FirstLine, it hasn’t affected MCC at all in terms of meeting its growth objectives,” Eddy Cocciollo told “I think many brokers are looking for a connection to CIBC and PCF, definitely.”

At least two brokers within the network are going one better, telling that they’ve seen a modest uptick in agents looking to join their teams and directly pointing to its access to PC and CIBC product.

The thinking is that being part of that network will afford them a competitive advantage over brokers outside the group. It’s something other mortgage professionals have been quick to reject.


  • Broker 2012-10-18 9:35:23 AM
    So, let me get this correct Paul. You state in this article that clients seek counsel of a mortgage broker as they look for an alternative to the bank. Yet, the mortgage broker places the deal with a bank. Please explain?

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  • Paul Therien 2012-10-19 7:56:52 AM
    First of all, this comment is taken out of context and was for a totally different story, I had ZERO knowledge that this was being used for this story, and it is not appropriate that it was done.

    I do however believe that consumers who source mortgage brokers for their mortgage needs are looking for an alternative to walking into a branch for their mortgage. They want the expertise that a broker provides, and the more personal service. Brokers market that they have access to multiple lenders, and most brokers will place a client with a lender where there is a good fit. In some cases this may be a bank, in others it may not. In the end it must always be what is in the best interest of the client.
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