Acquisition Archives - Mortgage Rates & Mortgage Broker News in Canada

Online mortgage lender Nesto says it has acquired mortgage finance company CMLS Group. CMLS Group, one of Canada’s largest independently owned real estate finance companies, offers a wide range of commercial lending services, residential mortgages and institutional services. The combined company will have over 1,000 employees across 10 offices and more than $60 billion in mortgages under administration. Financial terms of the agreement were not disclosed. Nesto chief executive Malik Yacoubi will be CEO of the combined company, while CMLS chief executive Sam Brown will continue as president and head of the commercial division. The combined company expects to keep the Nesto, CMLS and Intellifi brands. Nesto says the deal was supported by investments from Diagram Ventures, Portage, National Bank of Canada’s corporate venture capital arm, IGM Financial, BMO Capital Partners, Fonds de solidarité FTQ and Fondaction. This report by The Canadian Press was first published June 21, 2024.

Online mortgage lender Nesto acquires mortgage finance company CMLS Group

June 21, 2024 No Comments

Online mortgage lender Nesto says it has acquired mortgage finance company CMLS Group.

RBC makes a $13.5-billion bid for HSBC Canada

November 29, 2022 No Comments

Canada’s largest bank is planning to become even bigger with a $13.5-billion offer to purchase the Canadian banking arm of HSBC.

Equitable Acquires Concentra Bank in $200M Deal

February 9, 2022 No Comments

Equitable Bank announced this week that it has entered into an agreement to acquire a majority interest in Saskatchewan-based Concentra Bank.

The Latest in Mortgage News: Ontario Teachers’ Pension Plan to Buy HomeEquity Bank

September 23, 2021 No Comments

The Ontario Teachers’ Pension Plan Board has taken a major investment stake in Canada’s rapidly growing reverse mortgage market with its acquisition of HomeEquity Bank.

MCAP to Acquire Paradigm Quest and Merix

July 14, 2021 No Comments

Canada is about to have a new #1 non-bank lender. MCAP announced today that it’s buying Paradigm Quest (PQ), giving it PQ’s in-house brands, Merix

Q&A With M3 Group on its Acquisition of Pinch Financial

June 9, 2021 No Comments

M3 Group announced last week that it had completed the acquisition of Fintech company Pinch Financial.

Fintech Firm Lendesk Acquires LenderSpotlight

August 28, 2019 No Comments

Vancouver-based Lendesk Technologies added a new property to its growing portfolio this week with the acquisition of LenderSpotlight. The “marriage” between the two companies will

Brookfield Business Partners LP acquires controlling stake in Genworth MI Canada Inc.

August 13, 2019 No Comments

In a surprising but strategically sensible move, Brookfield has acquired a 57% stake in Genworth MI Canada, Canada’s largest private residential mortgage insurer. “Genworth is

BREAKING NEWS: M3 Mortgage Group Acquires VERICO

September 21, 2017 1 Comment

It’s one of the biggest broker channel acquisitions in Canadian history. M3 Mortgage Group is buying broker network VERICO Financial Group. M3, which already owns

Acquisition