OUR MISSION
RiverRock Mortgage Investment Corporation (MIC) is a leading and trusted non-bank lender in Ontario. Our team works to provide mortgage alternatives for mortgage brokers and agents, and a fixed-income source for investors. Our mission is simple: Offer investors an opportunity to invest in shares in a profitable and highly marketable residential mortgage portfolio, while providing mortgage brokers and agents with mortgage solutions for their clients.
WHAT IS A MIC?
A Mortgage Investment Corporation (MIC) provides brokers with mortgage solutions that the big banks can't offer. A MIC presents a way to invest in the real estate market, mitigating the time and risk of investing in individual mortgages. Investors pool their money by buying shares in a MIC, creating an alternative fixed-income investment. MICs are special companies created by virtue of Section 130.1 of the Income Tax Act, a federal statute, to enable investors to invest in a pool of mortgages. As a Mortgage Investment Corporation we also borrow from a bank or other lender, employing both the shareholders’ capital and loan proceeds to fund its mortgage portfolio. The pool of mortgages is continuously managed, with newly invested share capital, and the proceeds of repaid and discharged mortgages, being utilized to fund new mortgages.OUR WINNING MODEL
Who says that there can only be one winner? Not us. We built our business creating three winners:
- Brokers: Alternative lending solutions that offer the flexibility the big banks can’t.
- Investors: Secure and stable interest payments from a diversified, well-managed MIC.
- Borrowers: No credit? Poor credit? New to Canada? We provide mortgage alternatives to get them in their dream home.