Big things are happening at First National. Here’s what you need to know.

In the near future, First National will return to its roots as a private company, owned by Stephen Smith and Moray Tawse with new investments by Birch Hill Equity Partners and Brookfield Asset Management.  After 19 years on the S&P/TSX Index, this marks the end of one era and the beginning of an exciting new chapter. On the eve of the 2025 National Mortgage Conference, I am writing to bring you up to date on what this means for our business together.

In a word, it means more. More of the award-winning service¹, reliable products and responsive innovations that you have come to expect and rightly demand for your clients. It also means an unwavering commitment to the broker channel, continuity within our leadership ranks and the disciplined pursuit of origination growth driven by the entrepreneurial spirit that has long defined First National

If this sounds like business as usual, it is. First National is still First National. Ultimately, that means big and important things will continue to happen as we move forward with purpose, continually enhancing our competitive edge to better serve you.

Our next big thing

A case in point is the expansion of our popular EXCALIBUR Alt A program, now with longer amortization periods (up to 40 years) and extended debt servicing ratios. Launched this month first in Toronto and Vancouver, EXCALIBUR FLEX addresses the market currently dominated by MICs to give you a new, and compellingly competitive option. Please speak to your local First National representative for more information.

Because Together We Succeed

Knowledge is today’s most important currency. It’s why we attend the National Mortgage Conference and why First National continues to organize our own Lender Education Days. By bringing you together with other leading experts from the mortgage, mortgage insurance, credit and real estate industries for deep-dive discussions on changing rules and practices, our intention is to exchange practical knowledge and insight that will enhance your currency with clients. Ask your First National representative about participating in this hands-on form of business development, which is another manifestation of our belief that Together We Succeed.

Looking forward with confidence

With your support, buttressed by a strong service effort by our team, First National is well on its way to a year of substantial growth in new mortgage originations. We’re incredibly proud of this performance as it means – together – we are helping more Canadians than ever buy homes, often for the first time.

As we prepare for 2026, tariffs and trade actions make it difficult to issue a market forecast, even in light of lower interest rates, improved affordability, the stabilizing effect of immigration on housing demand and the potential for new housing initiatives in the upcoming federal budget. Nevertheless, what I am certain of is that Canadians will continue to embrace the broker channel and you as an indispensable resource and essential partner in solving their home financing challenges. 

You are in the right place at the right time and First National is here to support you and your ambitions now and always. As evidence of our commitment, please take a moment to visit our Conference booth #66 and attend the Lender Panel where our own Jason Ellis will offer his always entertaining insights.

Thanks and congratulations

This year’s National Mortgage Conference marks the much-deserved induction of Frank Napolitano, Joe Pinheiro and Gord Wintrup into the Mortgage Hall of Fame. Gentlemen, we salute you for your incredible lifetime contributions to the industry and dedication to important charitable causes.

On a final note, I wish to sincerely thank you, along with my 1,900 colleagues, for making it possible for First National to take home 10 major industry awards this year: six gold, three silver and a bronze. Recognition of this nature, especially being named #1 for Prime Business, is always thrilling but also serves to remind us of what it takes to win as a non-bank lender. Through hard work, informed underwriting and responsive service, we will strive to earn your business and create winning conditions for you, your clients and First National in the months to come.  

¹ Congratulations are in order to these First National award winners in 2025: Elena Robinson, CMP’s Woman of Influence for the 5^th year running; Briar Robertson, CMP Woman of Influence; Sarena Scott, AMBA Industry Partner of the Year and Favourite BDM at Mortgageline; Robyn Molenaar, BDM of the Year, Mortgage Excellence; Domenic Ciaravella, BDM of the Year, DLC Elite; Fred Abiaad, BDM of the Year, Multi-Prêts Hypothèques; Isabel Eydlin, CMP Alternative Lender of the Year; Russell Veronelly, CMP Rising Star; Tom Walsh, CMP Rising Star; and, Amber-Dawn Smiley, Underwriter of the Year, DLC FCF.