Dominion Lending Centres

Dominion Lending Centres

Dominion Lending Centres (DLC) was founded in January 2006 and is based in Port Coquitlam, British Columbia, Canada.. Co-founder Gary Mauris is a serial entrepreneur who, prior to launching DLC, led two businesses. Co-founder Chris Kayat was the largest Royal LePage owner in Western Canada by market share and overall agent count before selling his franchises to prioritize DLC’s growth. While running his real estate business, Kayat owned and operated a mortgage brokerage that became DLC’s first franchise.

History

Growth milestones

DLC funded $14 billion in mortgage volume in 2013, making it the largest Canadian brokerage by total funded volume. The company was recognized by PROFIT Magazine as one of Canada’s fastest growing companies, making the PROFIT HOT 50 list in 2009 and 2010, PROFIT 200 in 2012, and PROFIT 500 in 2013 and 2014.

DLC bought two competitors: Mortgage Centre Canada (2013) and Mortgage Architects (2015).

By the time Founders Advantage completed its majority acquisition of DLC in June 2016, the DLC group of companies had 5,000 agents, 325 franchises, and 650 locations, with $33 billion in funded mortgages in 2015.

Public listing / corporate changes

DLC’s path to public markets came through a strategic investor rather than a direct IPO:

2016: Founders Advantage acquires majority stake. Founders Advantage Capital Corp. completed the acquisition of a 60% majority interest in DLC for approximately $73.9 million, while the founders Gary Mauris and Chris Kayat retained 40% interest and continued managing day-to-day operations.

2018: Move towards full ownership: Founders Advantage announced a letter of intent to acquire the remaining ~40% interest from Mauris and Kayat for $75.772 million, funded through a combination of common shares and a promissory note.

2021: Full consolidation and name change. At the end of 2020, Founders Advantage completed full acquisition of DLC. The corporation’s name was then changed to Dominion Lending Centres Inc., with shares trading on the TSX Venture Exchange under the symbol “DLCG” on January 8, 2021. Gary Mauris became CEO and Executive Chairman.

Acquisitions or structural changes

Beyond the major broker network acquisitions (Mortgage Center Canada in 2013, Mortgage Architects in 2015), DLC built out it’s technology infrastructure. The DLC group of companies (DLCG) now operates through four main subsidiaries: Dominion Lending Centres, Mortgage Centre Canada, Mortgage Architects, and Newton Connectivity Systems. The company provides end-to-end services to automate the mortgage application, approval, underwriting, and funding process through software and services under the Velocity, Link, and Isaac brand names.

Operations

What is Dominion Lending Centres

DLC operates using the mortgage broker model. DLC does not lend money, rather, the company’s mortgage brokers connect borrowers with valid Canadian lenders. Mortgage brokers are compensated directly by the lender and do not charge fees to the borrowers when arranging mortgages.

How does DLC make money (franchise model, commissions, etc.)

Royalty Fees DLC collects royalty fees, directly influenced by funded mortgage volume, from brokerages operating under the DLC umbrella. The company’s franchise model is based on a 5% fee to head office.

Lender Bonuses DLC receives fees and bonuses from lenders for mortgage placements.

Technology DLC receives connectivity fees from their fintech subsidiary, Newton Connectivity Systems. Fees are charged to lenders based on the volume of mortgage applications processed through their “Velocity” software platform.

Scale As of March 2026, DLC's network included 9,000 agents and 500 locations across Canada, operating through its three franchise brands (Dominion Lending Centres, Mortgage Centre Canada, and Mortgage Architects) and Newton. The mortgage network’s funded volume for 2025 was reported to be $84.5 billion.

Leadership

President

1. Gary Mauris, January 2006 – June 12, 2020
2. James Bell & Eddy Cocciollo, January 1, 2021 – December 7, 2023
3. Eddy Cocciollo, December 7, 2023 – present

Chairman of the Board

1. J.R. Kingsley Ward, 2016 – 2018
2. Gary Mauris, June 12, 2020 – present

Controversies

$800 Million Insurance Claim

Two plaintiffs filed a claim with the Ontario Superior Court of Justice seeking damages in the amount of $800 million related to an insurance product called the Mortgage Protection Plan (MPP). MPP is underwritten by Manulife, formerly administered by Benesure and offered through the Credit Security Insurance Agency (CSIA). Allegations stated Benesure was an unlicensed insurer and attempted to hold DLC liable for its distribution of MPP

Competition Bureau Investigation

The Competition Bureau obtained a court order, granted by the Federal Court of Canada on May 16, 2023, to commence a civil investigation into alleged anti-competitive conduct by Dominion Lending Centres Inc. (DLC). Resulting from this, was required to produce relevant records and written information to facilitate the Bureau’s investigation. The co-president at the time, James Bell, denied the allegations of anti-competitive conduct and attempting to block an emerging rival. Bell also alleged Rocket Mortgage, a U.S.-based fintech empire, was using the Competition Bureau as a vehicle to make trouble for DLC. The investigation was later resolved in DLC’s favour.

Awards

Canadian Mortgage Awards

• 2008: Best Newcomer Award
• 2009: Best Branding Award
• 2010: Mortgage Brokerage of the Year & Best Advertising
• 2011: Best Advertising Award
• 2012: National Broker Network of the Year, Best Advertising & Best Branding

DLC Claims to have been awarded the National Broker Network of the year eight times between 2012 and 2022, however, the Canadian Mortgage Awards website does not publicly outline award winners for this time.

Mortgage Awards of Excellence

• 2020: National Network of the Year & Best Media/Marketing Campaign of the Year

PROFIT Magazine

• 2009 & 2010: PROFIT HOT 50 list of Emerging Growth
• 2012: PROFIT 200
• 2013 – 2017: PROFIT 500

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