In March 2017, we established Three Point Capital Corp., a mortgage investment corporation ("MIC"), to purchase a portfolio of performing mortgages from Paradigm Mortgage Investment Corporation. This ...
In March 2017, we established Three Point Capital Corp., a mortgage investment corporation ("MIC"), to purchase a portfolio of performing mortgages from Paradigm Mortgage Investment Corporation. This asset purchase and migration of Paradigm Mortgage shareholders to Three Point Capital was completed successfully in June 2017, positioning Three Point Capital to deliver a consistent monthly dividend to our shareholders through disciplined mortgage underwriting, careful mortgage investment and assertive mortgage administration. We are a Canadian non-bank mortgage lender providing mortgage financing in marketable urban communities in British Columbia, Alberta, Saskatchewan and Manitoba. Working through the professional mortgage broker channel, we provide mortgage financing to borrowers who have the capacity to repay and significant equity in real estate but do not qualify for institutional financing. Canada's limited number of financial institutions and their tightening in policy regarding their own mortgage lending has created an opportunity to service a growing segment of the mortgage market while increasing the quality of security for our shareholders. As the steward of Three Point Capital Corp. and the administrator of its investments in mortgages, the management company Three Point Capital Management Corp., established over two decades ago, has been entrusted with the direction of the fund.