Brokers We value our broker partners

Mortgage Brokers Why partner with Magenta?


Flexible and Fast!
Business for Self, High GDS/TDS, Holding Companies, Investment Properties and much more! As a property-first lender we weigh the property, location and client story most heavily.
We also offer quick-close solutions where funding can be 24 hours or less with a full document package including appraisal.

Collaborative Product Development. You Ask, We Listen
Our agile product development team relies on broker feedback to update products and services to reflect changing market conditions.

Collaborative Problem Solving with Experts
Our underwriting team has over 60 years of combined experience in alternative lending and will work with you to find solutions for your clients.

Rock Solid Reputation
Established in 1994, Magenta is one of the oldest and largest MICs in Canada.

Extensive Lending Areas Throughout Ontario
Urban, small centre and rural coverage. Small Centre: See interactive lending map.

Lending Areas Southwestern Ontario


Urban Centres

Hamilton, including:

  • Stoney Creek
  • Dundas
  • Ancaster
  • Waterdown


Small Centres

Grand Bend

Small Centres

Mt. Brydges
New Dundee
New Hamburg
Port Stanley
Saint George
St. Thomas


Everything within Magenta coloured boundaries that is not included in Urban and Small Centre lists.

Lending Areas Eastern Ontario


Urban Centres

Kingston, including:

  • Amherstview

Ottawa, including:

  • Avalon
  • Barrhaven
  • Bells Corners
  • Chapel Hill South
  • Fallingbrook
  • Gloucester
  • Kanata
  • Nepean
  • Orleans

Small Centres

Carleton Place
Smiths Falls


Everything within Magenta coloured boundaries that is not included in Urban and Small Centre lists.

Submission ProcessHow it works

  1. Broker and Regional Manager discuss deal

    Brokers discuss their deals with a Magenta Regional Manager to determine if it aligns with lending parameters.

  2. Broker submits using the platform of their choice (Filogix, Morweb or Velocity)

    Brokers may submit deals via Filogix,
    Morweb or Velocity.

  3. Underwriter assigned

    Brokers now communicate with the assigned underwriter on structuring the deal, issuing the commitment, confirming the available documentation and understanding the exit strategy.

  4. Funder assigned

    Funding team ensures the documents meet the requirements of the commitment.

  5. File completed through solicitor

    The file is then completed by the solicitor chosen by the client.

BenefitsSimple. Fast. Done.

Simple. Fast. Done. is Magenta’s solutions-based approach to mortgage origination – it’s a service philosophy perfected by working with brokers for over 28 years. We work with you to deliver a solution that truly helps the borrower.

With a straightforward submission process and 24-hour turnaround on most file decisioning, you can readily educate and guide your client through the borrowing process. Our experienced, efficient team of underwriters and funders will communicate with you every step of the way to ensure an exceptional experience.

Key features of our Simple. Fast. Done. approach include:

  • BDM guidance to help you package your deal, ensuring a streamlined process
  • No sign-up process or volume commitments required, providing ease and flexibility
  • Easy deal submission via Filogix
  • 24-hour turnaround on most file decisioning so you have a clear path to move forward
  • Accommodation of quick-close deals – even just a few days before closing
  • Friendly, efficient underwriters and funders committed to communicate at every stage
  • Access to our network of local appraisers and real estate professionals
  • A true partner for your business, helping you deliver your superior service to your customers

Really appreciate your quick response and really thank you for making my life so easier, hope to work a lot in future and let’s get this done and we will move forward after this, thank you once again for ur help and support.

Ranbir Singh, Mortgage Alliance Pinnacle Capital

Service is the cornerstone of our organization

With more than 24 years’ experience in mortgage origination, we understand what service means to our Broker partners. We enable brokers to deliver the high level of service that their clients expect. It’s our differentiator. We work with our broker partners to deliver a solution that truly helps the borrower. With a straightforward submission process and 24-hour turnaround on most file decisioning, brokers can readily educate and guide clients through the borrowing process. Simple. Fast. Done.™

Brokers are our partners

Success for our broker partners is synonymous with our success. It’s critical to have a lending partner who truly understands its markets and utilizes a common-sense approach to mortgage origination. We partner with brokers as educators and supporters to help grow their business. It’s why we enjoy such a fantastic reputation in the industry.

Brokers - Benefits
Brokers - Benefits

We have an extensive, trusted network that covers every facet of the business

Since 1994 we have nurtured an extensive network of partners covering every facet of the borrowing process. These preferred Magenta partners have proven track records, are highly knowledgeable and deliver top-level service.

We specialize in mortgage solutions for borrowers with short term credit challenges

Magenta provides flexible mortgage solutions that are tailored to suit our clients’ needs. Our primary focus is partnering with brokers to solve borrower’s short-term credit challenges and facilitate their return to the traditional lending channel.

FAQFrequently Asked Questions

Who can I speak with to get more information?




For more information about our lending areas, products or pricing, please contact your business development manager.  You can email them at .

Where does Magenta Lend?


Urban Centre Lending Areas:

Eastern Ontario

  • Kingston
  • Ottawa

Southwestern Ontario

  • Cambridge
  • Guelph
  • Kitchener
  • London
  • Waterloo

Urban Proximate Lending Areas:

Within a 30-minute commute from the developed edge of our urban centres

Small Centre Lending Areas:

Towns with a population of 6,000 or more, located within a 45-minute commute of our urban centres

What is Magenta's maximum loan to value on a first and second mortgage?
What type of real estate will Magenta lend on?


Magenta offers first and second mortgages on owner-occupied residential properties, single family rentals, multi-unit residential properties, student rentals, modular home construction, and raw land.  Please contact your business development manager for specific criteria for each different category.

What type of real estate will Magenta not lend on?


  • Properties with wood foundations
  • Properties on a flood plain
  • Properties on leased land
  • Remote rural properties
  • Properties outside the primary lending areas with a value of less then $150,000.00
  • Mobile homes
  • Remediated grow ops/meth labs
  • Properties with holding tanks
  • Properties on cisterns
  • Properties with a shared well
  • Farm land where there is income derived from it
  • Properties where the sole source of heat is an outdoor furnace
  • Log Homes
  • Properties with any gas tanks or fuel storage
  • Properties that show an apparent lack of “pride of ownership”
Why does Magenta have a preferred solicitor list?

Clients are welcome to use their own solicitor.  Magenta reserves the right to request their own counsel to act on their behalf.

Does Magenta have an approved appraisers list?

Magenta created a list of preferred appraisers based on those whose work we have come to know and trust.  Appraisals are always ordered directly by the broker.  Our list of preferred appraisers is available on our website under broker tools.

All appraisers require AACI or CRA accreditation.  If you already have an appraisal from an office that is not on our preferred list done for another lender, please contact your business development manager to see if we will accept an assignment of that appraisal.

How do I submit a deal to Magenta?

Magenta’s process is simple.  Once you have confirmed that your deal is a fit for Magenta you can submit to us through Filogix, Morweb or directly via emailing a PDF application.  We are found under “lenders”, not privates.

Once you have submitted your deal to Magenta you will receive a notification from our Underwriting Department indicating turnaround times and requesting any additional documentation you may have upfront.  Underwriting times vary according to volume.  Typically we are at about a 24 hour turnaround time.

Once an underwriter has adjudicated your deal you will receive notification from the platform that you have submitted on as well as from the underwriter directly.  Magenta is committed to keeping the broker informed every step of the way.  You are encouraged to contact your underwriter or business development manager at any point in the process if you have any questions.

Magenta has offered a closed term; does this mean I cannot pay out my mortgage prior to maturity?


The underwriter will typically return a commitment with a 1-year, closed term.  If you require an open term it should be requested.

A closed term does not mean that the file is closed until maturity or a bona fide sale; rather it means that paying out early will be subject to a 3 month interest penalty or IRD – whichever is greater.

Each mortgage also has the option on a closed term to increase their monthly payments by 20% with 15 days written notice.

An open term means that there will be no prepayment penalty to pay off the mortgage prior to maturity.  We will require 30 days written notice of payout.


Is my Magenta mortgage assumable and portable?


Magenta mortgages are not typically portable or assumable.  In special circumstances we will allow an assumption to be processed but we do not release the original covenant.

Since Magenta is a property lender our mortgages are not portable.  Each mortgage is based on each specific property.

Why does Magenta collect a fee?



Magenta collects fees on each mortgage no differently than a traditional bank collects insurance premiums.  Magenta is not insured by CMHC, Genworth or Canada Guarantee and as such takes all the risk.  We also collect fees to facilitate the broker compensation.  Magenta capitalizes their fees on all files.