Mortgage giant unveils borrowing solution for Canadians who don’t meet traditional financing criteria
Mortgage broker network giant Dominion Lending Centres Group (DLCG) has announced the launch of Heartwood Financial Group, a non-B20 residential mortgage lender it says is aimed at serving an often-overlooked segment of the Canadian housing market.
The newly launched firm, in which DLCG holds a 40% equity stake alongside other institutional investors, has secured funding and commenced operations, a news release highlighted.
Heartwood Financial Group is set to operate independently of Dominion Lending Centres but will offer its mortgage solutions exclusively through the company’s national network. It will cater to borrowers who do not meet traditional bank lending criteria, using what the company describes as a “common-sense lending approach.”
“Heartwood will undertake a common-sense lending approach, to provide mortgage solutions to borrowers that may not otherwise qualify under traditional bank lending requirements,” said Gary Mauris, chairman and CEO of Dominion Lending Centres. “While we are excited to share this milestone, we expect Heartwood management will adopt a prudent approach to growth for the remainder of 2025, in order to position Heartwood for operational success in the future.”
Heartwood is led by CEO and president Grant Mackenzie, a veteran executive with over 40 years of experience in banking and mortgage lending, and Jonathan Bundle, head of sales and operations, formerly head of mortgages at HSBC Canada. Together, they bring more than six decades of industry experience to the venture.
Dominion Lending Centres Inc., established in 2006 and based in British Columbia, operates a national network of mortgage professionals through its subsidiaries MCC, MA Mortgage Architects, and Newton Connectivity Systems.
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