CMLS Financial celebrates 40 years as Canada's Mortgage Company

Jan 15, 2014, 11:20 ET from CMLS Financial

TORONTO, Jan. 15, 2014 /CNW/ - CMLS Financial, one of Canada's largest, independently owned mortgage services companies, is celebrating its 40th anniversary as of January 2014.

Founded in 1974, the firm is a Canadian success story, having grown from a handful of employees with a focus on commercial mortgages to become a major force in the Canadian mortgage market. The privately held Canadian company offers a wide range of commercial lending services, institutional services and residential mortgages, have been a CMHC approved lender since 1992, and an NHA MBS issuer since 2008. They recently received Fitch Commercial Servicer Ratings; this adds to their long-standing DBRS rating.

"We would like to thank all of our borrower clients, funding partners, and institutional clients for their ongoing trust and support," says David Franklin, President of CMLS Financial. "Their commitment to our company has helped us achieve consistent growth every year and secure our position as an industry leader."

2013 was a milestone year for the company. At the close of the year, their assets under administration approached $10 billion, they had originated an estimated $2.9 billion in commercial volume, and held approximately 9% of the Canadian market1 .

They broke new ground with the launch of a Residential Mortgage Division in February 2013. Focused on the prime lending sector, CMLS Financial is on pace to lend over $1 billion in its first year. Their available products include Conventional (<80%) and High Ratio insured or insurable mortgages with fixed and adjustable terms from 1 year to 10 years. CMLS Financial was ranked among the Top Five residential lenders in Canada in the 2013 CMP Magazine Brokers on Lenders Survey.

CMLS Financial has also been a driving force in the re-emergence of CMBS lending and have originated a total issuance of $1.2 billion on the CMBS platform since 2012. In October, CMLS Financial arranged a $400 million CMBS transaction involving five Westin Chain Hotels in major Canadian markets. In December, they arranged a $394 million CMBS transaction with the second issue under the CCMOT banner.

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1 Source: CMLS Financial Ltd. 2012 Canadian Commercial Mortgage Market Survey