HSBC Financial Corp. Ltd. today announced it has acquired residential mortgage broker Invis Inc. for an undisclosed sum.

Under a June 1 agreement, HSBC Financial acquired all the ordinary share capital of Invis, and, subject to regulatory approval, it has the right to acquire the outstanding voting preference shares at par.

Invis boasts 550 mortgage brokers in locations across Canada. It negotiated more than $4.5 billion of mortgages on behalf of homeowners and homebuyers in 2004. The firm, which has been around since 2000, has negotiated a total of $15 billion in mortgages in that time.

HSBC Financial sells consumer financial services such as consumer loans, mortgages and private label credit cards through a 100-branch network, and other distribution channels. It was formerly known as Household Finance Corp. Canada, which was acquired by HSBC in March 2003, and renamed on April 1 of this year. The firm is now a subsidiary of HSBC Finance Corp., a foreign bank, which, along with HSBC Bank Canada, is part of the giant banking organization, HSBC Group.

“We are impressed with the dramatic growth that Invis Inc. has experienced since being founded in 2000,” said Pat Burke, president and CEO of HSBC Financial. “Invis mortgage brokers have a reputation for providing great customer service and our goal will be to nurture the entrepreneurial energy of Invis and provide additional support where we can to enhance the value to the customer.”

“I am looking forward to bringing the resources of HSBC Financial together with our own expertise to enhance this customer experience,” added Andrew Moor, president and CEO of Invis. “Invis has had a remarkable track record since its inception. This is the result of the efforts of our outstanding brokers and staff.”