RMG Mortgages

What RMG Mortgages does

RMG Mortgages (legally RMG Mortgage Corporation) is a Canadian residential mortgage lender headquartered in Toronto, with a servicing centre in Kitchener, Ontario. Operating for over a decade, the company originates and services residential mortgages to homeowners across Canada exclusively through a wholesale/B2B2C channel of over 3,000 licensed Canadian mortgage brokers rather than direct-to-consumer marketing. It is a distinct brand owned by parent company MCAP Commercial LP, a major Canadian mortgage lender and servicer, and is licensed as an Ontario Mortgage Brokerage (#13761) and Ontario Mortgage Administrator (#13764). The company employs an estimated 51–100 people.

The product portfolio centers on Fixed Rate and Adjustable Rate Mortgages (1–5 year terms, amortizations up to 30 years), supplemented by specialized products such as the RMG Safeguard Mortgage (a second-mortgage equity-access solution) and Purchase Plus Improvements. Value-added programs include Bridge Financing, a Cash Back program (up to 3% of the mortgage amount), and Payment Assistance for financial hardship, alongside targeted programs for Business for Self, Medical Professionals, and New to Canada borrowers. Add-on services generate ancillary revenue: Secure Start (life/disability insurance), a complimentary Property Tax Service, and RMG Home Service and Home Appliance Service Plans (subscription-priced, e.g., $20.99/month for appliance coverage up to $10,000 annually). Technology consists of two proprietary portals—the MyRMG homeowner portal for statements, payments, documents, and loyalty participation, and the RMG Gateway broker portal for deal management, real-time status updates, a resource hub, and direct chat with underwriters.

Revenue mechanics combine core mortgage interest income (variable and fixed) with transaction-based fees (Cash Back, bridge financing processing fees) and recurring subscription fees from home service/appliance plans. Go-to-market is entirely intermediated: brokers originate and service mortgages using the Gateway portal, while customer retention is driven through MyRMG, educational content, and the annual RMG Giveaway loyalty contest ($50,000 in prizes). Mortgage rate pricing is market-based and not publicly disclosed, requiring broker consultation. Customer segments span first-time home buyers, existing homeowners seeking renewal/refinance, self-employed borrowers, medical professionals, and newcomers to Canada.

Name

RMG Mortgages

Legal name

RMG Mortgage Corporation

Website

https://rmgmortgages.ca

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

RMG Mortgages is a Canadian residential mortgage lender, owned by MCAP Commercial LP, that originates and services fixed and variable mortgages and related programs for homeowners across Canada exclusively through a network of 3,000+ licensed mortgage brokers.

Ownership category

akta.pro rank

Headquarters

HQ city

Kitchener

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mortgage Interest Income: RMG Mortgages provides residential mortgages to homeowners across Canada. The company earns revenue through interest on variable and fixed rate mortgages with terms from 1 to 5 years and amortizations up to 30 years.
2. Cash Back Program Revenue: Provides homeowners with up to 3% cash back of their total mortgage amount. This program applies to insurer-approved transactions only and helps cover closing costs, renovations, furniture, and moving costs.
3. Home Appliance Service Plan: Optional add-on service providing up to $5,000-$10,000 of coverage annually for major home appliances. Fee collected with regularly scheduled mortgage payment after complimentary 3-month period.
4. Home System Service Plan: Optional add-on covering major home systems including furnace, air conditioning, plumbing, and electrical. Collected with mortgage payment frequency after complimentary introductory period.
5. Bridge Financing Fees: Short-term bridge loans for homeowners buying and selling simultaneously. Maximum term of 45 days (60 days in Manitoba), with processing fees deducted from bridge loan funds.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

RMG Mortgages is a Canadian residential mortgage lender that provides fixed-rate and adjustable-rate mortgages, bridge financing, cash back programs, and home service plans to Canadian homeowners. The company distributes its products exclusively through a network of more than 3,000 licensed Canadian mortgage brokers, supported by the proprietary MyRMG homeowner portal and RMG Gateway broker portal.

Product overview

RMG Mortgages is a Canadian residential mortgage company offering a comprehensive suite of mortgage products and services through a network of over 3,000 licensed mortgage brokers. The core product portfolio centers on Fixed Rate and Adjustable Rate Mortgages, supplemented by specialized products including the RMG Safeguard Mortgage (second mortgage solution) and Purchase Plus Improvements Options. The company provides value-added programs including Bridge Financing, Cash Back (up to 3%), and Payment Assistance options. Add-on services include Secure Start (life/disability insurance), Property Tax Service, and RMG Home Service/Appliance Plans. Digital services include the MyRMG homeowner portal and Gateway broker portal, complemented by the RMG Giveaway loyalty program. RMG also supports specialized programs for Business for Self, Medical Professionals, and New to Canada borrowers.

Differentiator

Problem solved

Functional benefit

Products and services

• Fixed Rate Mortgage A fixed-rate residential mortgage offering predictable payments with rates locked in for the duration of the term, available in 1- to 5-year terms, for Canadian homeowners.
• Adjustable Rate Mortgage A variable-rate mortgage with payments that fluctuate with the Prime Rate, offering potential interest savings over time, with the option to convert to a fixed rate at any time with no penalty, for Canadian homeowners.
• RMG Safeguard Mortgage A second mortgage solution that allows RMG homeowners to access equity built in their home without modifying their existing mortgage, avoiding refinancing and early payout fees.
• Purchase Plus Improvements Options A mortgage option that allows homebuyers to finance home improvements up to 20% of the property value by adding renovation costs to their mortgage.
• Bridge Financing Program Temporary short-term bridge loans for homeowners buying and selling simultaneously, with a maximum term of 45 days (60 days in Manitoba) and processing fees deducted from the loan funds; minimum bridge mortgage amount of $5,000.
• Cash Back Program Program providing homeowners with up to 3% cash back of their total mortgage amount to help cover closing costs, renovations, furniture, and moving expenses; applies to insurer-approved transactions only and cannot be used for the down payment.
• Payment Assistance Short-term assistance program offering options such as interest-only payments, increased amortization, and mortgage deferral to help homeowners through challenging financial times without affecting their credit scores; requestable through the MyRMG portal.
• Secure Start (Mortgage Life and Disability Insurance) Mortgage Life and Disability Insurance designed to help ensure families are protected during financial hardship due to loss of life, illness, or injury.
• Property Tax Service Complimentary service that incorporates property tax payments into the mortgage, collecting portions with each mortgage payment and managing tax payments on behalf of homeowners.
• RMG Home Service Plan
• RMG Home Appliance Service Plan
• RMG Gateway Broker Portal Industry-leading broker portal providing a deals-at-a-glance interface, a resource hub with policy guidelines and product information, real-time status updates, and direct chat with underwriters, accessible to RMG's network of 3,000+ licensed Canadian mortgage brokers.

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Canadian Mental Health AssociationminorOthersRMG Mortgages is a supporter of the Canadian Mental Health Association, which provides advocacy, programs and resources that help prevent mental health problems. RMG works with brokers and homeowners annually to raise money in support of CMHA's mission to help Canadians access mental health programs and resources.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Emerging players

• Fairstone Bank of Canada: Fairstone (formerly Duo Bank of Canada) is a newer Canadian Schedule I bank focused on broker-originated residential mortgages with a digital-first platform — an emerging peer whose model overlaps with RMG's tech-enabled broker distribution.

Broad incumbents

• MCAP: MCAP is the parent company of RMG Mortgage Corporation and one of Canada's largest independent mortgage lenders and servicers, with a multi-brand portfolio across residential, commercial, and securitization. It is the most directly comparable peer because RMG is effectively an MCAP brand operating in the same origination/servicing model.
• CIBC: CIBC is one of Canada's Big Six banks with a large residential mortgage franchise across direct and broker channels — represents the incumbent competitive backdrop that RMG's broker-centric model is built to differentiate against.
• RBC: RBC is Canada's largest bank and a dominant residential mortgage originator, having absorbed Street Capital — useful as a benchmark for incumbents expanding into the broker-distributed alternative mortgage segment where RMG operates.

Direct peers

• First National Financial: First National is a major Canadian non-bank mortgage originator and servicer that distributes heavily through the broker channel — closely mirroring RMG's wholesale B2B2C model, product set (residential, commercial), and underwriting approach.
• CMLS Financial: CMLS is one of Canada's largest non-bank mortgage lenders with a multi-channel origination strategy spanning residential, commercial, and securitization — comparable to RMG in its broker distribution and product breadth.
• Equitable Bank: Equitable Bank is a Canadian Schedule I bank operating primarily through the broker channel under the EQB brand, with a residential mortgage focus and a digital platform strategy — a strong functional peer to RMG's broker-driven model.
• Home Trust Company: Home Trust is a Canadian Schedule I bank focused on residential and alternative mortgages (including self-employed/Newcomer programs), serving brokers and consumers nationwide — directly comparable to RMG's specialist non-bank proposition.
• B2B Bank: B2B Bank (subsidiary of Laurentian Bank) is a Canadian non-prime residential mortgage lender distributed almost entirely through independent brokers — directly comparable to RMG's wholesale distribution strategy and target borrower segments.
• Street Capital: Street Capital was a Canadian residential mortgage lender focused on broker-distributed, non-prime/alternative mortgages prior to its acquisition by RBC — historically one of the closest pure-play comparables to RMG's broker model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rmgmortgages
• LinkedInlinkedin.com/company/rmg-mortgages

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RMG Mortgages