Edmonton-based mortgage brokerage Benchmark Mortgages has joined the Compass Mortgage Group and the Tango Group of Companies.
Benchmark’s move is in recognition of the ever-changing industry landscape and managing partner Brandon Scott says innovation is vital.
"Operating as a team-driven mortgage brokerage, this move is part of larger a strategy among a collective group of industry innovators. When we bring together the best in the industry everybody wins; our brokers, our lending partners, and most importantly our clients. It allows us to provide Albertans with greater options and services," he says.
The Tango Group of Companies is a conglomerate partnership comprising Compass Mortgage Group, Paragon Mortgage Group, and Premiere Mortgage.
It currently has around 400 mortgage agents across Canada and annual mortgage volume of around $4 billion.
"There is a growing trend in Canada's mortgage industry towards consolidation between brokerage houses," said Dean Larson President of Compass Mortgage Group. "The motivation is to increase scale, services, and efficiencies, while being able to bring more lender choice and pricing options to clients. In addition, individual mortgage agents benefit from being part of a dynamic multi-faceted firm with access to all lenders, and top status levels for pricing and compensation."