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CA Dominion Lending buys Mortgage Centre Canada

Property Here - Wednesday, July 24, 2013

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Dominion Lending Centres purchased Mortgage Centre Canada (MCC) from the Canadian Imperial Bank of Commerce (CIBC) in June.

MCC consists of 90 franchises operating out of 160 locations across the country with 1,133 mortgage professionals. In 2012, MCC successfully funded more than $6.9 billion in mortgage volume.

DLC says in a news release that it “went through tremendous due diligence before deciding to acquire MCC and is committed to the brand with the intention of adding fresh perspective, support, technology and enhancements to MCC’s offerings.”

MCC will continue to operate as an independent brand and the purchase will not affect the day-to-day operations of MCC or DLC, the company says.