Podcast
Questions and Answers
Which type of lender provides short-term loans between 6 to 24 months with higher interest rates?
Which type of lender provides short-term loans between 6 to 24 months with higher interest rates?
What document must a Mortgage Investment Corporation (MIC) provide potential investors with in order to sell its shares?
What document must a Mortgage Investment Corporation (MIC) provide potential investors with in order to sell its shares?
Which type of investors can invest in a private corporation using an Offering Memorandum instead of a prospectus?
Which type of investors can invest in a private corporation using an Offering Memorandum instead of a prospectus?
What is the main security that an investor gets when investing in a Mortgage Investment Corporation (MIC)?
What is the main security that an investor gets when investing in a Mortgage Investment Corporation (MIC)?
Signup and view all the answers
Which type of lender is known for providing products characterized by short-term loans and higher interest rates?
Which type of lender is known for providing products characterized by short-term loans and higher interest rates?
Signup and view all the answers
Who can invest in a private corporation using an Offering Memorandum instead of a prospectus?
Who can invest in a private corporation using an Offering Memorandum instead of a prospectus?
Signup and view all the answers
Which type of entity is considered a member of a designated class of lenders and investors according to the text?
Which type of entity is considered a member of a designated class of lenders and investors according to the text?
Signup and view all the answers
Who among the following is NOT considered a member of a designated class of lenders and investors as per the text?
Who among the following is NOT considered a member of a designated class of lenders and investors as per the text?
Signup and view all the answers
Which entity is not explicitly mentioned as a member of a designated class in the text?
Which entity is not explicitly mentioned as a member of a designated class in the text?
Signup and view all the answers
Who can be considered part of a designated class of lenders and investors if acting as an agent or trustee for fully managed accounts?
Who can be considered part of a designated class of lenders and investors if acting as an agent or trustee for fully managed accounts?
Signup and view all the answers
Which of the following entities is categorized as a member of a designated class based on the text provided?
Which of the following entities is categorized as a member of a designated class based on the text provided?
Signup and view all the answers
What is the primary difference in how an investor participates in a MIC compared to investing directly in mortgages?
What is the primary difference in how an investor participates in a MIC compared to investing directly in mortgages?
Signup and view all the answers
In a corporate bankruptcy, how are shareholders usually treated compared to other parties?
In a corporate bankruptcy, how are shareholders usually treated compared to other parties?
Signup and view all the answers
What factor prevents most Mortgage Investment Corporations (MICs) from guaranteeing share redemption?
What factor prevents most Mortgage Investment Corporations (MICs) from guaranteeing share redemption?
Signup and view all the answers
Why do most Mortgage Investment Corporations (MICs) not specify the time it will take for share redemption?
Why do most Mortgage Investment Corporations (MICs) not specify the time it will take for share redemption?
Signup and view all the answers
What does O.Reg. 188/08 define in relation to Mortgage Brokerages?
What does O.Reg. 188/08 define in relation to Mortgage Brokerages?
Signup and view all the answers
'What is the significance of the designated class of lenders and investors defined in O.Reg. 188/08?'
'What is the significance of the designated class of lenders and investors defined in O.Reg. 188/08?'
Signup and view all the answers
What is the maximum total debt amount allowed by a syndicated mortgage in relation to the fair market value of the property?
What is the maximum total debt amount allowed by a syndicated mortgage in relation to the fair market value of the property?
Signup and view all the answers
What is the limitation on the term of the debt obligation related to a syndicated mortgage?
What is the limitation on the term of the debt obligation related to a syndicated mortgage?
Signup and view all the answers
According to FSRA, what defines a 'Permitted Client'?
According to FSRA, what defines a 'Permitted Client'?
Signup and view all the answers
Why is it illegal to promise 'guaranteed' high returns in syndicated mortgage investments?
Why is it illegal to promise 'guaranteed' high returns in syndicated mortgage investments?
Signup and view all the answers
What is typically the payment priority for investors in syndicated mortgages?
What is typically the payment priority for investors in syndicated mortgages?
Signup and view all the answers
In general, what is the relationship between rate of return and investment risk in syndicated mortgages?
In general, what is the relationship between rate of return and investment risk in syndicated mortgages?
Signup and view all the answers
Why is it important to know your investor?
Why is it important to know your investor?
Signup and view all the answers
What is the primary use of FSRA’s Form 3.0?
What is the primary use of FSRA’s Form 3.0?
Signup and view all the answers
What are the two classifications of syndicated mortgages as of July 1, 2018?
What are the two classifications of syndicated mortgages as of July 1, 2018?
Signup and view all the answers
What are the requirements needed to classify an investment as a Qualified Syndicated Mortgage?
What are the requirements needed to classify an investment as a Qualified Syndicated Mortgage?
Signup and view all the answers
Why is FSRA’s Form 3.0 useful for non-syndicated private mortgage transactions?
Why is FSRA’s Form 3.0 useful for non-syndicated private mortgage transactions?
Signup and view all the answers
What is the significance of the July 1, 2018 subdivision of syndicated mortgages?
What is the significance of the July 1, 2018 subdivision of syndicated mortgages?
Signup and view all the answers