Change afoot at DLC

Change afoot at DLC

Change afoot at DLC

Dominion Lending Centres has restructured its management.

While it will be business as usual at the network giant, Gary Mauris is abdicating his role as president to Eddy Cocciollo, but intends to remain DLC’s Group of companies CEO. The Mississauga-based Cocciollo brings greater physical presence in Ontario, the largest market in the country, but spending more time in the West for DLC’s management team.

“Having Eddy in Ontario is strategic,” said Dave Teixeira, DLC’s vice president of operations. “We’ve added to our bench strength while increasing our presence in the East and still maintain our DLC Group head office out west [in Vancouver]. We see that as balancing out our talent, as well. Ontario is an important market for us, so it makes sense to have someone there, and he can work with our lenders and partners in Ontario as well.”

Cocciollo has been Mortgage Centre Canada’s president for a number of years and will bring experience and existing partnerships directly into the DLC fold.
“Eddy has been there for 10 years at the helm of MCC, his experience leading a large broker network and the relationships he has built over those years will naturally help here at DLC,” continued Teixeira.

Cocciollo, for his part, says he has big shoes to fill, but he has nary a doubt that he will execute his new duties as successfully as he did while running MCC.

“It’s a real honour and privilege to be given this opportunity to lead such an incredible business,” Cocchiollo said in a statement. “Gary and Chris [Kayat] have grown DLC from just one office 13 years ago to the biggest mortgage originator in the country; for them to trust me to continue the legacy they have built is a true testament to their confidence in my abilities.”

Taking Cocciollo’s place as president of Mortgage Centre Canada is Rich Spence, a 20-year veteran of the Canadian financial industry. Spence is also the founder and CEO of inContact Software and the vice president of sales for the Mortgage Protection Plan at Manulife, where he recently served as an executive. This summer, Spence joined MCC as director of business development, and he will work out of the Mississauga office alongside Cocciollo.

“I’ve always known MCC to be one of the most respected and professional networks in our industry,” said Spence. “Since coming over and seeing its operations from the inside, I now know why MCC is such a great organization. I am humbled and honoured to have the opportunity to work for this group of elite mortgage brokers. I am excited to continue to strengthen and grow on top of the great work Eddy and our staff have accomplished.”

3 Comments
  • nick 2018-12-12 9:09:52 AM
    Perhaps instead of giving this company kudos you could write how they handled the transition to velocity . While they definitely took care of their franchisees they treated independants like afterthoughts especially those that had been on the morweb system for years. Disgraceful and in my opinion they did it with intent.
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  • Evan 2018-12-14 3:42:51 AM
    Given that founders just cancelled the acquisition announced in September, things may be changing still. Sounds like the giant is starting to crack a bit. The Newton debacle that had to partner with Filogix to submit to lenders, the strong arm tactics of trying to force franchises into a centralized payment system, and of course attempting to force their offices to use Newton.

    Doesn't really sound like putting agents, or franchises first, does it?

    Not to mention the rather significant 11.6% slowdown in the mortgage industry, and the arrival of direct to consumer technology. Looks like DLC may soon go the way of the massive super brokers that used to control the US market.
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  • Ron 2018-12-17 9:41:59 AM
    Rich Spence is a proven leader with loads of broker experience. He'll do well in that role as Mr. Mortgage Centre!
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