TORONTO, June 21, 2019 /CNW/ - Mortgage Company of Canada Inc. (the "Company"), a Toronto-based Mortgage Investment Corporation (MIC), was pleased to receive a 2019 PCMA Private Capital Markets Eastern Award at the 2019 awards ceremony held in Toronto on June 12, 2019. The Company's recognition in the Mortgage Fund category came in conjunction with Waverley Corporate Financial Services.
"We are thrilled to be singled out for this recognition from among an impressive group of MICs reviewed by PCMA," said Raj Babber, Founder and Chief Executive Officer of Mortgage Company of Canada. "We take great pride that every mortgage in our $250 million portfolio was originated and underwritten internally, ensuring the quality of our portfolio remains high. As a result, investors have responded positively to our offering."
Mortgage Company of Canada provides investors with an opportunity to access a diversified portfolio of first and second mortgage loans to generate cash flow for their portfolios. The fund invests in a large number of low duration loans, with an average funding size of approximately $300,000 and an average portfolio duration of approximately six months. Mortgage Company of Canada is a made-in-Canada success story, founded by a family loan of $250,000 and growing steadily over the past decade up to its current portfolio size of $250 million, all while providing consistent annual returns to its investors in excess of 9.25%.
The Private Capital Markets Awards are the only national industry awards for private capital markets professionals, recognizing business leaders who help build vibrant and successful private capital markets in Canada. Nominees for PCMA recognition are evaluated for their leadership in the industry, contribution to the deal, innovative market, product or investment opportunities created, the benefits of the deal for the issuer and for investors, and the overall impact of the deal on the quality and integrity of the private capital markets. The award selection committee is comprised of independent members of the PCMA and its national Board of Directors.
About Mortgage Company of Canada
Mortgage Company of Canada is a Toronto-based mortgage investment company that primarily invests in single family residential mortgages in the Greater Toronto Area. The Company's objective is to target a minimum annual yield of 9.25% by providing its shareholders with monthly dividends by lending within established risk parameters.
Mortgage Company of Canada is a Mortgage Investment Corporation as defined in the Income Tax Act (Canada). For further information on Mortgage Company of Canada, please visit www.mcoci.com.
SOURCE Mortgage Company of Canada Inc.
For further information: Raj Babber, Founder and Chief Executive Officer, Mortgage Company of Canada, (866) 318-7222 ext. 222