Non-bank mortgage originator launches ventures arm

by Steve Randall17 Dec 2018

Canadian non-bank mortgage originator and brokerage M3 Group has announced a new ventures division as it seeks to seize opportunities in the industry.

The group, which includes Mortgage Alliance, Invis, and Verico, has added M3 Ventures to its group of businesses.

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M3 Ventures will help the group’s brokers capitalize on expanding reach in the mortgage ecosystem and build & secure traditional and non-traditional partnerships.

"We're just getting started! Today's ecosystem is moving at the speed of light and there has never been a greater opportunity to perfectly position M3 for growth & success," said Luc Bernard, Chairman & CEO, M3.

The new division follows the launch of M3 Tech and the M3 Innovation Lab.

Leading the ventures team is president Michael Beckette, founder and president of Mortgage Alliance.

"Leveraging the power of the M3 Group, I am thrilled to lead this new division as we look to take advantage of this great window of opportunity to continue our momentum in today's thriving ecosystem," said Beckette.

New mortgage business leadership
Among other leadership changes at the group, Verico president Albert Collu becomes president M3 Mortgage Operations, for all brands under the M3 banner.

"I am honored and humbled to have the opportunity to oversee and lead M3's mortgage operations and play an integral role in building momentum for our brokers around the organization's collaborative culture across its family of brands," said Collu.

Meanwhile, Joe Pinheiro, VP Sales, Mortgage Alliance, has been appointed COO, Mortgage Alliance. He has been a key part of the TMAC team since the beginning and will oversee all parts of Mortgage Alliance including broker recruitment, retention, P&L management, customer experience, and leadership of sales teams across the brand.

"It's an honor to continue the great work of Michael, an industry icon, and the terrific momentum we've built over the years at TMAC," said Joe Pinheiro, COO, Mortgage Alliance.

Distinct brands
The M3 Group now has 4 divisions: Mortgage Brands, Insurance, Tech, and Ventures.

The mortgage brands are Mortgage Alliance, Invis, Mortgage Intelligence, Verico, and Multi-Prêts Hypothèque. MortgageBOSS 5.0 and M3 Innovation Labs come under the Tech division; and the insurance brands comprise SimplInsur and SimplAssur.

The group has more than 6,000 brokers and $44 billion in annual loan volumes.

 


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