mergers and aquisitions Archives - Mortgage Rates & Mortgage Broker News in Canada

Fairstone Bank and Home Trust finalize merger

January 9, 2025 No Comments

Fairstone Bank of Canada and Home Trust Company have officially completed their merger, marking a significant development in the alternative lending market.

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.

nesto in talks to do deal with CMLS Financial

Nesto eyes controlling stake in CMLS Financial, media report suggests

June 2, 2024 No Comments

Online mortgage lender Nesto Inc. is currently in talks to purchase a controlling stake in CMLS Financial Inc.,

Home Trust’s merger with Fairstone Bank: what it means for customers and brokers

April 15, 2024 No Comments

Alternative mortgage provider Home Trust has entered into a merger agreement with unsecured lender Fairstone Bank, but what effect the deal has on customers and brokers remains unknown.

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.

street capital agrees to purchase offer from RFA

Street Capital Finally Finds its White Knight

June 18, 2019 No Comments

After a year of searching for urgently needed growth capital, Canada’s sixth-biggest broker channel lender got the boost it required. Street Capital Group has agreed

Parent of U.S. Mega-Lender Buys Control of Mortgage Fintech, Lendesk

April 25, 2019 1 Comment

No, Quicken Loans has no plans to start selling mortgages in Canada. But it does want a piece of our mortgage technology market. That’s why

DLC Takeover Bid Collapses

December 19, 2018 2 Comments

Unexpected drama is unfolding with one of Canada’s leading mortgage brokerages. Back in September we reported how DLC was making a play to retake control

More on DLC’s Stock Play

September 28, 2018 4 Comments

Dominion Lending Centres (DLC) founders Gary Mauris and Chris Kayat have announced a letter of intent to retake control of their company, of which they

mergers and aquisitions