Just days after Abode Mortgage announced its permanent closure, a few of the lender's former senior staff members are set to take the helm at a new mortgage lending operation called Canadiana Financial Corp.
Mike Linehan, who served as Abode's CEO from May 2007 until his resignation in January, has been named president and CEO of Canadiana. The lender is reportedly launching on March 22 and will specialize in residential insured first mortgages with products available in B.C., Alberta, Saskatchewan, Manitoba, Ontario and the Atlantic provinces.
Linehan has appointed Pamella Mulek as chief operating officer - the same role she held at Abode - and former Abode senior vice-president Joe DiGiambattista to lead team sales. In a news release, Linehan described DiGiambattista as "a proven sales executive in the mortgage industry with a passion for building competitive compensation structures and a competitively priced suite of products for broker partners."
Canadiana Financial is described in the release as "a privately held company with a solid capital structure through its primary investor, Fathom Five Partners."
Abode announces permanent closure