A mortgage investment corporation, or MIC (pronounced “mick”), is an underappreciated financial entity that exists for the benefit of mortgage lenders, investors, borrowers, brokers — you name it.
There are various reasons why MICs are not as well known as they should be. However, there are an increasing number of reasons why MICs are becoming more popular than ever. Let’s explore all these factors in greater detail.
First, from the perspective of an investor, mortgages in general are an attractive investment alternative. In fact, many people, including savvy investors, often don’t see a mortgage as an investment, but that’s exactly what it is. Money is given to someone in exchange for a return.
In the case of mortgages, the return involves steady interest payments backed by the security of collateral property. Historically speaking, mortgages have served as a source of high returns with relatively low risks, and is why MICs have become a more popular investment alternative.
Second, from the perspective of the mortgage borrower, in comparison to traditional banks and lenders, MICs offer a more readily available source of financing without overly restrictive approval policies.
With MICs, such as ASCEND Mortgage Investment Corp., the approval process often involves a focus on the property to be used as collateral, and not the personal information of the prospective borrower. MICs work closely with mortgage borrowers to achieve mutually-beneficial financial solutions. That’s the way it should be, isn’t it?
The MIC advantage
As for mortgage brokers, MICs provide brokerage clients with another viable and innovative mortgage solution, in comparison with some of the restrictive policies of traditional banks and lenders. Mortgage investment corporations such as ASCEND MIC develop an excellent relationship with brokers to provide the market with financials solutions that work.
If nothing else, mortgage investment corporations (MICs) are a viable mortgage alternative — to investors, borrowers and brokers alike — in a financial landscape sometimes in need of viable alternatives. Visit a MIC today to find out more.
ASCEND MIC is a mortgage investment corporation that specializes in offering investors high returns at low risk in Canada’s mortgages market. Please contact us to learn more.