History

CMLS Financial Ltd., formerly known as Penmor Investment Services Ltd., was established in 1974 by Phillips, Hager & North Investment Management Ltd. to provide PH&N’s institutional clients with mortgage investment opportunities and to service the mortgages after funding.

In 2004, Penmor's mortgage servicing and mortgage brokerage operations were split into separate companies. CMLS Financial is the new name for the servicing and, more recently, lending operations while Penmor (now called Penmor Mortgage Capital Corporation) continues to conduct mortgage brokerage activities.

Over the years the management team steadily acquired the business. The group is now wholly independent, owned and controlled by its management team and other key individuals.