National Bank of Canada expands brokers

National Bank of Canada is widening its broker-channel reach through new partnerships with TMG The Mortgage Group and Dominion Lending Centres while extending its existing relationship with M3 Group, according to industry reports published on May 22. The bank will begin rolling out prime mortgage products in Ontario and Quebec in mid-June, before expanding the offering across Canada by the end of next year. Canadian Mortgage Trends reported the move as a national expansion of the bank’s prime broker strategy, citing statements from National Bank and partner executives. ### What is National Bank actually changing in the broker channel? May 22 marked National Bank’s clearest expansion of its broker strategy since its earlier re-entry through M3. The bank is adding TMG and DLC to a distribution model that had already included M3, with prime mortgage products set to move through those networks rather than through a broad broker-direct return. (canadianmortgagetrends.com) National Bank exited the broker-direct channel in 2016 and later returned to Quebec in 2019 through M3 Group, according to Canadian Mortgage Trends. The bank then expanded that M3 partnership into Ontario in 2021 after what M3 described as a successful Quebec rollout. (canadianmortgagetrends.com) ### Why are TMG, DLC and M3 the important names here? TMG describes itself as the largest Canadian independent mortgage brokerage and says it works with more than 50 mortgage lenders across the country. That gives National Bank immediate access to a large broker distribution base without building a new retail footprint for the same borrowers. Dominion Lending Centres said on May 7 that its national network included more than 8,500 agents in the first quarter of 2026. (canadianmortgagetrends.com) In its March 24 full-year 2025 results, the company said its network topped 9,000 agents, underscoring the scale of the channel National Bank is tapping through DLC. M3 Group was already National Bank’s established broker-network partner. M3 said in its earlier Ontario expansion announcement that National Bank products had first rolled out in Quebec before broadening to Ontario, making the current move an extension of an existing model rather than a new entry point. (mortgagegroup.com) ### What products are being rolled out, and when? (dlcg.ca) Mid-June is the first operational milestone in the new plan. Canadian Mortgage Trends reported that National Bank will start in Ontario and Quebec, then stretch the rollout from coast to coast by the end of next year. (m3-grp.com) Prime mortgage products are the focus of the expansion. In National Bank’s communication cited by Canadian Mortgage Trends, the lender said it was “evolving its operating model” and establishing targeted strategic partnerships in the mortgage industry. The same report said prime deals submitted by brokers will use First National Financial Corporation’s mortgage origination services. (canadianmortgagetrends.com) ### What have the companies said about the partnership? Enrik Brassard, National Bank’s assistant vice president for mortgage business development, said in a press release posted by TMG that the bank was “very excited” to partner with TMG in building a long-term relationship based on commitment, trust and shared ambition. Brassard said the partnership would enhance the broker experience and create value for clients, according to Canadian Mortgage Trends. (canadianmortgagetrends.com) Dan Pultr, TMG’s president and chief operating officer, said the national rollout builds on a longstanding relationship in Quebec. Pultr told Canadian Mortgage Trends that National Bank’s Canada-wide prime launch would be positive for the lending space. TMG named Pultr president and COO effective April 1, 2025. (canadianmortgagetrends.com) ### What happens next in the rollout? Mid-June is the next date to watch as National Bank starts the first phase in Ontario and Quebec. Canadian Mortgage Trends said the broader coast-to-coast expansion is scheduled to continue through 2027, with TMG, DLC, M3 and First National Financial Corporation all part of the operating model. (canadianmortgagetrends.com)