"The Montreal and Gatineau regions are home to a significant number of potential customers and mortgage brokers who would benefit from our services," Andrew Moor, president and CEO of Equitable
Bank said in an official statement. "We're out to change that by increasing the competitive choices available in the single family residential mortgage market in both of these dynamic centres that together have over 4 million residents."
This will certainly be welcome news
to Quebec-based brokers, who could certainly use during it during an abnormally slow business period leading up to the province’s election.
Bank views the move as a logical step in its initiative to grow its influence throughout the country.
"We have been planning our launch for some time and now that we're here and open for business, we intend to do all the things that have made Equitable
a successful and growing lender over many years," Lisa Taylor, senior manager for residential mortgage underwriting said. "That means supporting the growth of the mortgage broker channel in Qubec, providing competitive mortgage solutions and building a loyal client following one homeowner at a time by providing highly responsive and respectful service."
For his part, Moor believes these markets will prove fruitful for the lender.
"These are attractive markets for us -- both are home to vibrant communities of borrowers with diverse sources of employment,” Moor said. “Bringing these markets into our lending network enhances our presence as a national financial services provider."
A leading lender has entered the single family mortgage markets in two major Canadian cities, offering brokers more options.