TORONTO, May 26, 2022 (GLOBE NEWSWIRE) — First Source Mortgage Investment Fund (the “Fund”) has paid a premium distribution of $0.01 per $10 Class F Unit (“Unit”). The premium distribution is the excess income earned by the Fund for the year ended December 31, 2021. The total distribution per unit for fiscal 2021, including this premium distribution, was $0.77/unit or a annualized compound return of 8.0%. a direct result of any or a combination of the following: a) strong performance of mortgage assets; b) competitive market conditions; c) best in class underwriting practices; and d) favorable lending environment performing firmly in the top decile of Canadian Mortgage Funds.
“It was another successful year filled with a unique set of challenges. As we begin to emerge from the pandemic, we expect a sharp increase in lending opportunities coupled with rising interest rates. It’s generally a good formula for investors,” said David Mandel, CEO of First Source Mortgage Investment Fund.
To learn more about the First Source Mortgage Fund, including investment opportunities and qualification criteria, please contact [email protected]
About First Source Mortgage Corporation
Founded in 2006, First Source is a Toronto-area commercial mortgage lender that supports mortgage brokers, real estate advisors, as well as builders and developers with non-bank mortgage services.
About First Source Mortgage Fund
The First Source Mortgage Investment Fund is a diversified portfolio of commercial and development mortgages focused on the Greater Toronto Area and certain other southern Ontario markets. For fund performance, investment opportunities and investment qualifications, please visit www.firstsourcemortgage.ca and/or contact 416-221-2238 ext. 32.