M3 Mortgage Group, the parent company of Multi-Prêts Mortgages, Mortgage Alliance, Invis and Mortgage Intelligence, has acquired Verico, based in Vancouver.
The company now controls more than 40 per cent of the mortgage broker market, according to Canadian Mortgage Trends, and its annual loan volumes have grown from $25 billion to $44 billion.
The move “gives us the scale and scope to truly transform the home financing space by offering a diverse range of solutions to all brokers,” says Luc Bernard, president and CEO, M3 Mortgage Group.
“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,” says Albert Collu, president of Verico.
Collu and Colin Dreyer, Verico’s CEO, will remain with the company.