M3 Mortgage Group, the parent company of Multi-Prêts Mortgages, Mortgage Alliance, Invis and Mortgage Intelligence announced today that it has acquired Verico, one of the most storied independent mortgage brokers in Canada.
The addition further enhances the company’s standing as the largest, fastest growing non-bank mortgage originator across the country. In today’s new environment, scale matters. With more than 6,000 brokers now serving Canadians from coast to coast, the acquisition uniquely positions the group for accelerated investment in those critical success levers like branding, technology and marketing in support of brokers across the country.
“Today’s announcement is a game changer for us and the families we seek to serve because it gives us the scale and scope to truly transform the home financing space by offering a diverse range of solutions to all brokers,” said Luc Bernard, President & CEO, M3 Mortgage Group. “To have a great organization like Verico decide to join forces with us, affirms that our appetite for innovation and long-term growth is a winning strategy that will thrive in the attractive mortgage landscape for decades to come.”
Some notable facts on the exciting acquisition:
- Increases the broker network to 6,000 across Canada (the largest in Canada)
- Exceeds ambitious 3-year business plan to double loan volumes, loan growth and brokers by the end of fiscal 2017
- Grows the group’s annual loan volumes from $25 billion to $44 billion
- M3 Mortgage Group becomes the undisputed #1 non-bank mortgage originator in the country
“When I first met the group’s leadership team, it felt like I was looking in a mirror. Their technology driven, consumer obsessed DNA not only reflects our philosophy, but their values as an organization builds on our existing origination capabilities. That’s a win win for our brokers and their customers,” said Colin Dreyer, CEO, Verico.
“Simply put, it’s a great fit for us. It provides our folks with a unique opportunity to differentiate themselves in the competitive marketplace by joining forces with the largest, fastest growing non-bank mortgage originator in Canada, while maintaining the inherent principals that makes us successful… your business, your brand, your way,” said Albert Collu, President, Verico.
The M3 Mortgage Group is proud to welcome Colin Dreyer, Albert Collu, the senior management team, and Verico’s independent mortgage brokers and their employees to our family.
As the #1 ranked mortgage brokerage in Canada, the M3 Mortgage Group will continue to leverage their industry leading position as the premiere brand in home financing to diversify, and expand into new financial service categories through the remainder of 2017 and beyond.
About The M3 Mortgage Group
The M3 Mortgage Group is the #1 non-bank mortgage originator and undisputed leader in mortgage brokerage across Canada. With more than 6,000 brokers and $44 billion in annual loan volumes, the technology driven, consumer obsessed group and its subsidiaries, Multi-Prêts Mortgages, Mortgage Alliance, Invis, Mortgage Intelligence and Verico have a single goal: be the best consumer ally when it comes to home financing for the many families it serves every year across the country.
About Verico Financial Group Inc.
VERICO was founded in 2005 with a single idea: to unite top mortgage originators in Canada and create additional opportunities for this group of highly driven professionals. Together, we knew we could make a mark on the Canadian mortgage industry. In 2010, we reached $10 billion in collective loan volume, a number that rivaled the mortgage business of the big 5 banks in Canada. Operating at the highest degree of professionalism, excellence and ethical standards, we originate over $13 billion by helping 45,000+ families annually with their mortgage needs.