M3 Leads Industry with Quick Onboarding of National Bank's New Process
M3 Financial Group has successfully onboarded its brokerages to National Bank of Canada's new process, making it the first in the industry to do so. This achievement is a result of seven years of relationship-building between M3 and National Bank.
According to Eric Chamelot, Vice President, Lender Relations & Lending Solutions at M3 Financial Group, their long-standing partnership with National Bank is what enabled them to get everything in place quickly and efficiently. He noted that the other two industry Networks should be onboarded later this year.
The relationship between M3 and National Bank dates back to 2019, when National Bank returned to the broker channel in Quebec exclusively through M3. Since then, they have continued to work together, with a full rollout to all M3 brokers licensed in Ontario in 2021.
This new process includes Prime applications submitted by M3 brokers moving through First National Financial's origination services, including underwriting and back-office support. This is designed to help keep deal turnaround fast as broker-submitted volume continues to climb.