In memory of our friend, Ivan Wahl
May 1, 1946 - March 12, 2025
Ivan was a visionary force in the Canadian Mortgage Industry for over 30 years, and was the first honouree of the Canadian Mortgage Hall of Fame. He was also an inspiring leader, motivating those around him, and never hesitating to share the financial success of his ventures with his team.
In the 1970s and 80s, Ivan was a "builder" in the real estate investment, trust, insurance, and mortgage businesses. Ivan's long-time associates, Brendan Calder and Michael Jones, fill in more details here.
Ivan founded and expanded several companies throughout his lifetime: FirstLine Trust, Xceed Mortgage, and Encompass Home Service Corp. FirstLine Trust and Xceed were pioneers in the Canadian mortgage-backed securitization market, and their innovative approach transformed residential lending practices (more on this legacy here). As a result, home-owners received the benefits of improved access, choice, and affordability beyond what major banks could offer.
While still at FirstLine, Ivan spearheaded the idea of providing home warranty services as an integral part of the client's mortgage package. This program planted the seeds for Encompass Home Service Corp. which Ivan co-founded in 2001. Providing mortgage clients with access to home warranty services proved to be so successful that it has since become a common feature of mortgages offered by non-bank-lenders.
Encompass is the only company in Canada to focus solely on offering home warranty services in the mortgage channel, and has grown to be a leading provider and manager of Canadian home warranties. An entrepreneur to the end, Ivan recently began expanding Encompass’s reach into the much larger United States market.
Ivan had a huge impact on so many of us who worked with him over the years. We invite you to share your experience and memories. While we mourn his loss, it is also with a sense of gratitude that we reflect on having had the opportunity to know him.
Share Your Tribute
Shared Tributes
Yousry Bissada
Board of Director
First Met Ivan: in 1987 when i applied for a controller job at FirstLine. Learned early, Ivan was always optimistic and he said accounting had minor issues that would take a week or so to fix. He was optimistic or i was slow, took me and the team a year :)
Favorite Memory: his advanced knowledge of Securitization in the late 80’s. He taught so many of us, including the capital markets teams of the banks that we used to securitize. He also had a confidence in Firstline and what it is capable of that made a great difference in negotiations to put Firstline permanently on the Canadian Mortgage map.
Final Toast: thank you Ivan. I learned a lot from you and carried it for my entire career. You and Brendan made Firstline a top notch education place for mortgages. 15 of the leadership of Firstline and CMI, went on to become presidents in the mortgage industry. You made a difference. Rest well Ivan.
Kelly Price
President of Encompass Home Service Corp.
First Met Ivan: In the early 1990s, in his big corner office at FirstLine.
Favorite Memory: I can't really pick a single memory - a lot's happened in nearly 30 years ! But, one thing that never changed - even recently, after working together for so many years - I was always just a little bit afraid to pick up the phone when he called. You never knew where Ivan's mind might have taken him, or what new idea he had come up with, so the likelihood of being faced with a list of unanticipated questions was high. "I'll get back to you" was never particularly well received so the pressure would be on to come up with quick and accurate answers. But, on balance, it was a good thing - it always helped me to stay on my toes.
Final Toast: Though I'm grateful for the opportunity Ivan gave me to run Encompass - which turned me into one of those obnoxious people who truly loves what they do - I'm even more grateful for the trust and confidence he showed in me, years back, when I was still a kid with very little experience. I have no doubt that the confidence he instilled in me then had a major, lasting effect on my career. I'm certainly going to miss you, my old friend.
George Hopkinson
Financial Services Consultant
First Met Ivan: In the early 1980s.
Favorite Memory: In 1986 Ivan and myself were the only two people in a “start-up incubator” office on Toronto Street. I was there to launch DirecTrust and Ivan to launch Guaranteed Mortgages Certificates. Both were successful launches.
Final Toast: I truly appreciated Ivan’s business acumen and his relentless drive for success. Ivan is perhaps the most significant innovator in the Canadian mortgage business.
Doug Adams
President, TBSM Inc.
First Met Ivan: June 1989 while working as a 26 year old financial analyst with YMG.
Favorite Memory: Sitting on Ivan's lap to get my poker chip while partying with the Firstline crew in the Bahamas.
Final Toast: I learned a lot from Ivan. I loved his entrepreneurial spirit as he was not afraid to try things in the mortgage space. He always treated me fairly and considered my inputs thoughtfully and that was always appreciated.
Ben Kawa
TMG Wellness and Business Coach
First Met Ivan: Wow I can’t remember when I first met Ivan but I do remember working with him at Counsel Corporation. We were on the same Top Team and we went through numerous strategic sessions together. I later had the privilege of working/directly reporting to Ivan. No nonsense, fair, let’s get it done type of guy. Learned a lot from him and for that I am grateful.
Favorite Memory: How I remember Ivan is not only how intelligent he was and he exhibited that on many occasions but also how sharp he presented himself!! Ivan always dressed well and it just seemed to me to add to his brand. He spoke and looked like a Pro. And not to mention a sense of humor that kind of snuck up on ya.
Final Toast: Off to that last team role lab in the sky Ivan / you made a difference my friend.
Mark Kerzner
CEO TMG The Mortgage Group
First Met Ivan:
Favorite Memory: I was hired by Brendan in 1999. My boss at CMI was Ed Gettings. On my first day, Ed told me to go down to Ivan's office and talk to him about securitization and mortgage funding. Ivan was my first ever meeting on my first day at the bank. He spent about an hour with me highlighting the history of FirstLine's innovation in mortgage funding. From that moment on he was an amazing resource and inspiration to me.
Final Toast: May his memory forever be for a blessing.
Paul Grewal
President of Highclere Capital Corporation
First Met Ivan: 1989
Favorite Memory: Ivan teaching me how to "work the room" in 1990 during a First Line Black Tie at the National Club and gifting me the Renaissance Mortgage Program portrait which hung on the wall behind his desk at CIBC Mortgages Inc.
Final Toast: It was an honor to have met Ivan. A true pioneer
Jill Stafford (Porter)
Sr Director at MCAP
First Met Ivan: On my first day at Firstline Mortgage back in late 1997-2001 and then at Xceed to run the underwriting team for a few years.
Favorite Memory: Seeing his smiling face walking through the office and hearing his loud voice… put a smile on my face. I am was kind and treated the staff with respect and treated us well.
Final Toast: To a legend who inspired a lot of people and knew everyone…. You will be missed and thank you for some of the best times in 10 of my 30+ years in this industry. Cheers to you in heaven 🥂.
Sean
Missing my father
First Met Ivan: A very long time ago
Favorite Memory: I have to many to express. He was the great man I ever knew. He was generous, very fair and very intelligent.
Final Toast: Dad you were my best friend my mentor and my rock. I miss you so much. I will never forget you. Love always your son Sean.