(December 12 – 10:40 ET) – CIBC Mortgages Inc. is launching Home Loans Canada, a new division that will see CIBC’s mortgage specialists selling third party products as well as CIBC mortgage brands.

Home Loans Canada has a mobile sales force of approximately 350 mortgage specialists, operating in four market segments: realtor, new home construction, employee/affinity and non-traditional lending.

Through Home Loans Canada, HLC mortgage specialists will offer 30 diverse mortgage products that provide choice for homeowners who are looking for more products in addition to those consumers who may not meet traditional lending criteria. Home Loans Canada will continue to offer CIBC, President’s Choice Financial and Sutton brands.

“Offering third party mortgages through Home Loans Canada is a first in the Canadian financial industry,” said Andy Charles, vice president, Home Loans Canada. “We will be offering consumers an unprecedented level of choice in mortgage options, while at the same time giving them the comfort of knowing that they are dealing with a major financial institution.”

CIBC says the new group should provide more choice and flexibility to Canadian consumers shopping for a mortgage.
-IE Staff