OTTAWA, July 25 11, 2022 (GLOBE NEWSWIRE) — Effective July 1, 2022, Westboro Mortgage Investment Fund increased the monthly distribution per eligible Class F unit from $0.064/unit to $0.066/unit. This increase provides a non-compounded annualized return of 7.92%, or if the investor has elected to reinvest distributions (DRIP), a compounded annualized return of 8.21%. This is the third consecutive monthly increase in the fund’s investor distribution. The impressive performance of the Westboro Mortgage Fund is a direct result of our strong, long-standing broker-client relationships; customer-centric team culture; best-in-class underwriting practices; and an environment of rising interest rates.
“We are currently seeing a healthy and robust alternative mortgage market. As recently reported in the media, rising interest rates have resulted in an influx of highly qualified borrowers who do not meet the strict and inflexible requirements imposed by traditional lenders due to government regulations. Simply put, highly qualified borrowers are no longer able to meet the stress test requirements demanded of typical bank mortgage lenders. Borrowers are increasingly looking for alternatives. Our mortgage fund is open to new capital from investors. We see this as a great opportunity for qualified investors to increase the return on their investment portfolio,” said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.
About Westboro Mortgage Fund
Westboro Mortgage Fund was established in 2004 as a mortgage investment company in the Ottawa area. Over the years, the fund has strategically expanded its lending region to include central and southwestern Ontario and the Gatineau regional region of Quebec. Today, the fund manages assets exceeding $325 million while maintaining the primary objective of providing investors with a consistent and stable risk-adjusted return for their investment portfolio.
To learn more about the Westboro Mortgage Investment Fund, including investment opportunities and qualification criteria, please contact Vice President of Fund Sales, Scott Roberts at [email protected]