Magenta Mortgage and Investment Corp. (Company Overview) - Canadian Mortgage Lenders
Magenta Mortgage Investment Corp is a mortgage investment corporation that is based in Perth, Ontario. When someone takes out a “private” mortgage, it is backed by an individual investor, a group of investors, or a private corporate entity, instead of the typical bank or financial institution. Private mortgages are the same regardless of who is backing them and they also have the same security as a mortgage that is through a bank or other financial institutions.
What is a Mortgage Investment Corporation?
A mortgage investment company is a team of investors that pool their money together in order to invest in a number of mortgages. Mortgage investment companies can borrow money from banks, and other lenders, and then use the money from the investors to fund the mortgage portfolio.
What Magenta Mortgage and Investment Corp Does
Magenta invests over 80% of their portfolio into first mortgages that are secured by owner occupied homes. Additionally, the portfolio of the company consists of seasonal properties, land, and residential building lots. The rest of the portfolio is filled with second mortgages that have been carefully researched and chosen. This makes the portfolio one of the safest investments available.
The mortgages are typically secured primarily through real estate in the Ottawa and Kingston areas. The company also has security in smaller areas of Eastern Ontario that act as back up security to primary mortgages. Magenta Mortgage and Investment Corp. focuses their investments in areas that are stable and essentially recession proof. Markets that have stable and appreciating property values offer the investors a less likely chance of losing money in their investment.
Shareholders of Magenta Mortgage and Investment Corp. have seen a consistently high investment return for their money. In addition, the diversification of the portfolios offers a lower risk of investment for their consumers.
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