cmls Archives - Mortgage Rates & Mortgage Broker News in Canada

AI is coming for mortgage underwriting — but underwriters aren’t going anywhere, lenders say

April 10, 2025 No Comments

As AI makes inroads into underwriting, lenders say it’s a tool for efficiency — not a substitute for human expertise.

Mortgage lenders cutting fixed mortgage rates

Mortgage Digest: 5 big banks cut fixed mortgage rates following bond yield drop

February 14, 2025 No Comments

Mortgage providers nationwide have been gradually lowering their fixed mortgage rates, including five of the country’s Big 6 banks.

CMLS introduces Aveo Flex 40, Canada’s newest 40-year mortgage

January 27, 2025 2 Comments

After its recent acquisition by Nesto, CMLS Group is signalling to brokers that they’re ready to do business, introducing a new partnership program and a 40-year amortization mortgage product.

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.,

Non-Bank Lender CMLS Launches a HELOC

December 14, 2021 No Comments

For those with 20%+ equity, HELOCs are just about the most popular product in the prime mortgage market. Over 2 million Canadians have one.

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