Pacific NA, a financial services company founded and run by MortgageBrokers.com CEO Alex Haditaghi, has acquired Mortgage Architects and its lending arm, myNext Mortgage Company.
The move, announced yesterday in a press release, is part of a larger plan for Haditaghi to transform myNext Mortgage into an online bank. However, Mortgage Architects' VP of marketing, Kelly Neuber, said the company will stay under the leadership of CEO and founder Bob Ord.
"You're not seeing any changes at Mortgage Architects - our vision and goals and selective recruitment are still all the same," she said, adding Ord will remain "completely in charge."
Haditaghi did not mention any changes in his role at MortgageBrokers.com, which he started in 2006.
"Mortgage Architects is the jewel of the mortgage industry in Canada," he said. "We plan to deliver unique products and build the technology infrastructure for the company's mortgage planning mandate, which is to provide niche products and exceptional advice to customers as they move through their life stages."
Ord praised the acquisition - for which specifics were not announced - saying Pacific NA will help Mortgage Architects reach "that next level." Ord launched the brokerage in September 2006 and it has grown to include 64 lead planners and 300 associate planners. It reportedly processed more than $5 billion in mortgage applications last year.