CMLS Financial Ltd.

If I could give CMLS a zero star review, I would. I've been using banks, obtaining loans and mortgages for over 15 years and this was by far the worst experience I've ever had. They must be the worst financial institution in Canada. The only reason we ended up with CMLS was because we went though a mortgage broker after some recommendations from friends. First off, I started an application for a HELOC through CMLS, and the agent went on holidays and completely dropped my file! I filled out forms, sent dozens of requested documents and did everything that was asked of me. So after a month of no communication or responses to my emails, I called head office and got in touch with a different agent. He apologized on behalf of the first agent, and said he would pick up where the first guy left off before he left for holidays. This agent also disappeared without a trace! So I emailed the first agent back and explained my frustration of not getting any support or response for a couple of months. I also asked to speak to a manager or his superior so I could explain how these agents were treating their clients. It was at that time that the agent explained to me that during my application, CMLS coincidentally cancelled their HELOC program so there was nothing else he could do for at this time. Still, I never got an opportunity to talk to his superior or manager. I responded to this email by telling him that I'd like to know my buyout cost so I could switch my mortagage to a new bank. He then responded by telling me about this "brand new HELOC product launching tomorrow" that I could apply for. Are you kidding me? I felt like I was dealing with a scammer because everything he said seemed completely made up and made absolutely no sense. I went to TD and within 2 days I was approved for a mortgage and the additional HELOC I had been trying to get from CMLS for months. TD has now been calling CMLS everyday for 2 weeks trying to get the buyout price so I can switch my mortgage, and they never get any response. Literally, their incompetencies are still hindering my ability to move on with my life! It is shocking that this company treats their paying customers this way, then has the ability to handcuff their customers by simply ignoring information requests from other banks. If anyone at CMLS reads this and cares about how your company treats your customers, please contact me so I can finally have some resolution to this horrifying experience.

My experience in working with CMLS on my mortgage has been nothing short of excellent. I first heard of CMLS Financial from a colleague who had a similar positive experience with the lender. The staff at CMLS Financial were very helpful along each step of the mortgage process and helped educate me on the legalities of my agreement. CMLS Financial acts as an "A" lender in every sense throughout my mortgage process. My favourite part about CMLS Financial as a lender is the online portal that allows me to keep track of my mortgage payments and make sure that I'm making payments on time. At CMLS Financial I get personalized service that is tendered to fit my needs, something not always available at the big banks. I would strongly recommend CMLS Financial to anybody interested in commercial, institutional or residential real estate investment or mortgages in Canada. Thanks CMLS Financial!

So far so good, Decent rate, excellent customer service, easy to use online access to mortgage.

CMLS Financial mortgage terms are terrible in experience. They look for every opportunity to charge you fees. It claims to be an "A" lender but apparently, given my experience with them, you are better off with a "B" lender. Except you absolutely have to use this lender, please stay away. My unpaid mortgage was due on January the 3rd 2016, early in the morning on the January 7th, 2016, I got a call one of their staff threatening to send my file to the solicitor. This is despite the fact that I informed them earlier that the January 3rd was not good for me for the monthly payment. They just refused to make life easy for me. He threatened to escalate the case, get the lawyers to deal with me and so on. They charged me $75 for stopping the payment on the 3rd as opposed to the $45/$48 that A lenders typically charge or even waive altogether. I will DEFINATELY NOT recommend this company even to an enemy. If you need a mortgage that will give you peace of mind, please check the big banks - RBC, BMO, BNS, etc. Stay away from CMLS Financial. STAY AWAY, STAY AWAY AND STAY AWAY.