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Mortgage Broker News | 14 Jun 2013, 12:00 AM Agree 0
Dominion Lending Centres’ purchase of The Mortgage Centre (MCC) from CIBC represents “a commitment to the mortgage broker space,” says DLC president Gary Mauris.
  • Ron Price/DLC | 13 Jun 2013, 01:38 PM Agree 0
    What to go Gary!
  • Cory | 14 Jun 2013, 10:04 AM Agree 0
    Anyone else notice a marked change is Mauris' public moments? In the past he would have been on here ramming the thought down everyone's throat that DLC was the only company that could have done this, or that they were the biggest, best, etc. Leopards can't change spots, but they can hire publicists. I think the acquisition of MCC is great on many levels, but what is greater is the refreshing approach he has taken to this point.
  • MortgageMan | 14 Jun 2013, 10:13 AM Agree 0
    I don't know about giving it the "iconic brand in Canada" label...
  • Frank - Ontario | 14 Jun 2013, 11:34 AM Agree 0
    I find it interesting that they have "$20 Billion" in volume... Makes it sound like they are worth that much..
    Unless they have lent out $20 billion of their own money, they have nothing... The volume belongs to the lenders...
  • Steve | 19 Jun 2013, 10:50 AM Agree 0
    Gary and DLC People can spin this in anyway they like but here are the Facts:

    DLC is 95-5% plus Monthly Advertising & 7 year commitment
    MCC is 98-2% No Advertising and only 5 year commitment.

    SO will Gary Run 2 separate brands for next 2-3 years? I highly doubt that! Because if I am a DLC franchise owner will request to move to MCC and get 98% Split and don't pay any advertising!

    If I am a MCC franchise why would I go down on my pay and get 95-5 plus pay monthly advertising payments?

    The Word on the Street was that DLC offering all MCC franchises signing bonuses to join his company. So if you were a $200 Million Franchise, you would get a $200,000 Signing bonus but you need to sign a 7 year deal, now those MCC franchises are free agents! they didn't get anything and CIBC got that money. If I am a MCC franchise why wouldn't I go to Verico, Mortgage Architects or Alliance and get a signing bonus anyway?

    I fully expect that there will be many changes coming to MCC and their business model but for now Gary and DLC is doing a good job calming these people up!
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