The Canadian mortgage industry is undergoing a massive structural shift. Dominion Lending Centres (DLC) Group has officially acquired Filogix from Finastra for $58.5 million, effectively placing the two most dominant mortgage submission networks—Filogix and Newton’s Velocity—under one corporate roof.
For GTA brokers and homebuyers, this consolidation of ‘mortgage plumbing’ is significant. Filogix, which facilitates roughly $60 billion in funded mortgage volumes annually, will continue to operate as a standalone subsidiary. However, the move signals a broader trend of vertical integration, as lenders and networks race to own the digital infrastructure closest to the borrower. With DLC Group expecting this acquisition to be immediately accretive to earnings, industry watchers are keeping a close eye on how this market concentration impacts future data accessibility and operational resilience. For a deeper dive into the financials and the long-term implications for the broker landscape, read the full report at https://www.mpamag.com/ca/mortgage-industry/industry-trends/dlcg-announces-deal-to-buy-filogix/584828.
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