nesto Archives - Mortgage Rates & Mortgage Broker News in Canada

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.

Mortgage Digest: HELOC usage rises to near two-year high as borrowing picks up

December 17, 2024 No Comments

A regular review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.

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.,

Inside M3 Group’s new partnership with nesto: what the deal means for brokers

February 1, 2024 No Comments

Both nesto and M3 Group say the timing was just right for their recently announced partnership, which is poised to shake up Canada’s mortgage broker industry.

Latest in mortgage news: nesto gains access to broker channel in exclusive deal with M3 Group

January 26, 2024 No Comments

Digital mortgage lender nesto this week announced an agreement with M3 Group that will allow it to start distributing mortgages through the broker channel.

Opinion: Equitable Bank’s nesto Gamble

May 5, 2021 4 Comments

As brokers, most of us don’t want lenders competing against us. Or should I say, another lender competing against us.

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