OTTAWA, June 21, 2022 (GLOBE NEWSWIRE) — Effective June 1, 2022, the Westboro Mortgage Investment Fund Board of Directors increased the monthly distribution per eligible Class F unit from $0.06/unit to $0.064/ go. This increase provides a non-compounded annualized return of 7.68% or, if the investor has elected to reinvest distributions (DRIP), a compounded annualized return of 7.96%. This is the second consecutive monthly increase in the fund’s investor distribution. The Westboro Mortgage Investment Fund Board of Directors had previously authorized an increase from $0.052/unit in April 2022 (6.24% annualized not compounded) to $0.06/unit for May 2022 (7.2% annualized not compounded ). The impressive performance of the Westboro Mortgage Fund is the direct result of: (a) strong, long-standing broker-client relationships; b) customer-centric team culture; c) best in class underwriting practices; and (d) a rising interest rate environment.

“We are currently seeing a healthy and robust alternative mortgage market. 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. Our mortgage fund is open to new capital from investors. We see it as an excellent opportunity for qualified investors to increase the yield of their portfolio by investing in our pool composed mainly of 1st residential mortgages,” 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 of over $325 million while maintaining the primary objective of providing investors with a consistent and stable fixed income solution 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]