OTTAWA – Effective July 1, 2022, Westboro Mortgage Investment Fund has increased the monthly distribution per eligible Class F unit from $0.064/Unit to $0.066/Unit. This increase provides for a non-compounded annualized return of 7.92%, or if the investor opted to reinvest distributions , a compounded annualized return of 8.21%. This is the fund’s third consecutive monthly increase to the investor distribution.
“We currently observe a healthy and robust alternative mortgage market. As referenced in the media recently, the increasing interest rate environment has resulted in an influx of highly qualified borrowers who do not meet the stringent and inflexible requirements imposed by traditional lenders due to governmental regulations. Simply put, highly qualified borrowers are no longer able to meet the stress test requirements required of the typical bank mortgage lenders.
The Westboro Mortgage Investment Fund was established in 2004 as a Mortgage Investment Corporation in the Ottawa area. Throughout the years, the fund has strategically expanded its lending region to include Central and Southwestern Ontario and the Gatineau regional area of Quebec. Today, the fund manages assets exceeding $325 million all while maintaining the primary objective of providing investors with a consistent and stable risk adjusted return for their investment portfolio.