Group Multi-Prêts Mortgage Alliance has purchased Invis Inc. and its affiliated company Mortgage Intelligence. The Quebec-based firm will now be the largest of its kind in Canada.
Invis has representatives in every province and the acquisition will give the Group Multi-Prêts a particularly strong foothold in Ontario and the west, increasing its network from about 2000 to more than 3,000 full-service brokers. While the terms of the deal were not disclosed, Group Multi-Prêts did reveal that the transaction will boost its overall loan volumes from $13 billion to $22 billion annually.
"A tremendous opportunity"
"The addition is a great fit for us as it affirms this company's deep commitment to the success of our brokers, and the value they provide homebuyers," says Luc Bernard, President and CEO of Group Multi-Prêts Mortgage Alliance. "We believe in the tremendous opportunity that exists for us and our brokers in today's thriving ecosystem, and this agreement not only continues our solid game plan to transform the mortgage lending landscape, but tackle it from a position of strength."
The new release indicates that Invis’ employees, senior management, and CEO Cameron Strong will also be joining the Group Multi-Prêts team.