myNext takes on new name

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A rose by any other name is just as sweet, but does the same apply to a lender?

Pacific Mortgage Group is hoping lender myNext Mortgage – soon to be called “Radius Financial” – will actually strenghten its appeal following an official rebranding next month.

"Radius encompasses what we do as a company today, and our goals and vision for the future," Pacific’s new CEO, Ron Swift, says in a press release issued Monday. "Everything Radius Financial does is in partnership with its brokers so they can grow their businesses and provide clients with the lending products they need to build wealth, achieve financial security, and live life to the fullest."

That change in name for the Canadian-owned and operated lender will take effect next month, with a company-wide roll-out to be completed over the next several weeks. The re-branding represents Pacific’s first major announcement since Swift took the reins earlier this month, ending a 19-year connection to MCAP.

As Radius Financial, myNext has moved to better position itself as a competitor to that mono-line and other broker lenders. This spring, Pacific announced that the lender would, in fact, open itself to deals arranged outside the Mortgage Architects/MortgageBrokers.com family.

Swift is pledging to continue delivering products that meet the diverse and changing mortgage needs of broker clients across the channel. Radius remains part of the Pacific Mortgage Group, which arranges in excess of $6 billion in mortgages annually and has more than $1 billion in mortgages under administration.

Swift, in fact, bills the name change as a bold strategic move designed to emphasize the company's customer-centric approach.

"Our customers are at the centre of what we do,” he said. “Radius Financial perfectly illustrates how we will surround them with a variety of lending products and services that will meet their borrowing needs today and tomorrow. We want to show we're more than a mortgage company, we're partners for life."

The rebrand comes on the back of several months of internal discussion and research. That it moved to expand its market footprint, a new name was needed to more accurately reflect its complete value proposition.

"Radius encompasses what we do as a company today, and our goals and vision for the future," says Swift, adding brokers are excited about the change. "Everything Radius Financial does is in partnership with its brokers so they can grow their businesses and provide clients with the lending products they need to build wealth, achieve financial security, and live life to the fullest."


 

  • John on 2011-10-25 1:45:24 PM

    Good for Ron, he is already started to making a difference. That is a true leader.

  • AB on 2011-10-26 4:39:32 AM

    Not sure why any self respecting Mortgage Professional would support My Next/Radius unless they work for MortgageBrokers.com or Mortgage Architects.

  • John on 2011-10-26 8:59:37 AM

    @AB...That is a dumb comment! Would you prefer supporting Major Banks where they can steal your customer away from you?
    Are you supporting Firstline (CIBC), knowing that they own Mortgage Centre and HLC?
    How about TD, SCOTIA knowing that both have Mobile sales specialists that compete with us every day? people like you are the reason that brokers have a bad name! Our industry needs lenders like Radius, Merix, MCAP, Street and First Nationals. As a mortgage broker it’s our duty to support these lenders too!

  • The other John on 2011-10-27 3:48:19 AM

    I think John what AB was trying to get across is that no self respecting agent from say Dominion lending or Verico would give business to Mynext/Radius as it is owned by competing brokerages.

    Other than that i agree with your comments. Don't forget that some banks are also paying real estate agents to bypass our services.

  • Ron Butler on 2011-10-27 4:16:57 AM

    I think we should all wait and see what a highly respected person like Ron Swift, who has always supported the mortgage broker, can do with this new venture.

    I would not touch the old management of MortgageBrokers.com with a 100 foot pole but Ron Swift is a different matter.

  • Julia Krause on 2011-10-27 4:33:05 AM

    Great move changing the name. Wishing Radius Financial much success in this tough business :)

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