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First National Financial Corporation
First National Financial Corporation (First National) is a Canadian financial services company that is the parent company of First National Financial LP, a private lending institution based in Toronto, Ontario. First National is among the top three in market share in the mortgage broker distribution channel.
First National is based in Toronto with over 1,600 employees and five regional offices throughout Canada, including in Calgary, Vancouver, Halifax, and Montreal.
In 1988, Stephen J.R. Smith and Moray Tawse opened First National for business with its first office located in Toronto.
In 1991, First National expanded its company to Western Canada and opened a second office in Vancouver. In 1995, First National opened its Halifax office. As the company continued to expand, First National opened another office in Calgary in 2000 and in Montreal in 2008.
In 1991, First National became a CMHC-approved lender in Canada, allowing them to lend directly to borrowers.
In 2001, First National launched Merlin, an online mortgage approval and tracking software system. In 2003, the system expanded to include commercial mortgage administration and investor communications. In 2007, First National introduced My Mortgage, an online mortgage management tool.
In 2006, First National became the first Canadian lender to offer the Canada Mortgage and Housing Corporation (CMHC) insured Interest Only Mortgage, meant to help qualified home buyers to lower their monthly mortgage payments in addition to help their month-to-month cash flow. The Interest Only Mortgage offers the option of paying only interest for the first five or ten years of a mortgage.
On July 16, 2014, First National Financial Corporation announced that its subsidiary First National Financial LP will supplement the Toronto-Dominion Bank with underwriting and fulfillment processing services on mortgages originated through the Toronto-Dominion Bank's residential mortgage broker channel.
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First National Financial Corporation
First National Financial Corporation (First National) is a Canadian financial services company that is the parent company of First National Financial LP, a private lending institution based in Toronto, Ontario. First National is among the top three in market share in the mortgage broker distribution channel.
First National is based in Toronto with over 1,600 employees and five regional offices throughout Canada, including in Calgary, Vancouver, Halifax, and Montreal.
In 1988, Stephen J.R. Smith and Moray Tawse opened First National for business with its first office located in Toronto.
In 1991, First National expanded its company to Western Canada and opened a second office in Vancouver. In 1995, First National opened its Halifax office. As the company continued to expand, First National opened another office in Calgary in 2000 and in Montreal in 2008.
In 1991, First National became a CMHC-approved lender in Canada, allowing them to lend directly to borrowers.
In 2001, First National launched Merlin, an online mortgage approval and tracking software system. In 2003, the system expanded to include commercial mortgage administration and investor communications. In 2007, First National introduced My Mortgage, an online mortgage management tool.
In 2006, First National became the first Canadian lender to offer the Canada Mortgage and Housing Corporation (CMHC) insured Interest Only Mortgage, meant to help qualified home buyers to lower their monthly mortgage payments in addition to help their month-to-month cash flow. The Interest Only Mortgage offers the option of paying only interest for the first five or ten years of a mortgage.
On July 16, 2014, First National Financial Corporation announced that its subsidiary First National Financial LP will supplement the Toronto-Dominion Bank with underwriting and fulfillment processing services on mortgages originated through the Toronto-Dominion Bank's residential mortgage broker channel.