Mortgage Investment Corporation
Crossroads-DMD MIC is a Calgary-based Mortgage Investment Corporation (MIC). Investors pool their money by buying shares in Crossroads-DMD MIC which then invests the funds in a diversified portfolio of secured mortgages to homeowners, builders, renovators and developers.
Mortgage investments offer many advantages, including a comparatively high rate of return and relatively low risk, due to the fact real estate is pledged as security. As well, the fixed interest rate and payment schedule provides income and - as the fund grows in the number of investors and the value – liquidity and security.
Mortgage management expertise: profitable and secure
Crossroads-DMD MIC's management is responsible for all aspects of the fund's administration and maintenance. This includes performing the proper due diligence and stringent analysis to ensure suitable mortgage investments are sourced. Research is handled by affiliate CMS Real Estate Ltd.'s underwriting department, which vets all mortgage applications, determining credit worthiness, risk and return potential.
The underwriting process takes into account a property's appraised and assessed value; location; the condition of the property; the credit worthiness of the borrower(s); the carrying costs if the loan goes into default; the legal costs to complete the foreclosure process; and the costs to rehabilitate and sell on the current market.
Interest rates, terms and conditions and general administration matters are also handled by Crossroads-DMD MIC's experienced management team who are committed to protecting investors' money while ensuring profitable investments.
Mortgage investment experience
Crossroads-DMD MIC's management has decades of experience and expertise managing mortgage investments.
Gerry Macdonald, President and Director of Crossroads-DMD MIC since May 9, 2001, is also founding director and president of CMS Real Estate Ltd., a Calgary-based real estate and mortgage brokerage company, since 1983.
James Devlin, Secretary-Treasurer and Director of Crossroads-DMD MIC, is also President of Devco Management Ltd., a company involved in the management of mortgage investment corporations since 1992.
Gerry Garvey, Mortgage Broker and Commercial & Residential Agent, has over 30-years experience in the mortgage lending industry and has arranged many different types of financing: from a condo project in Mexico; to condo conversions; to construction financing of all types for commercial and industrial properties.
Diverse, comprehensive mortgage management services
When investors deposit funds into Crossroads-DMD MIC, they are issued shares. Accounting is straight-forward and transparent: each investor is entitled to one preferred share for every $1 invested. This entitles the shareholder to their share of mortgage income earned by Crossroads-DMD MIC.
Once a mortgage is funded by Crossroads-DMD MIC (and after a rigorous analysis and underwriting process) an aggressive, incisive management process is then engaged. This includes diligently monitoring taxes, insurance and, if applicable, other mortgages, to ensure all payments are current and investors' money is secure. If arrears are discovered, Crossroads-DMD MIC aggressively pursues resolution: from demand letters to collections to full foreclosure.
If Crossroads-DMD MIC takes a property back, in-house staff is in place to move the property along so it is rapidly and efficiently rehabilitated, listed on MLS and then sold. We have diverse management team that includes: a property management team to clean up, repair and provide monitoring of the property during rehabilitation; and a sales team ready to list the property on the MLS system and then market the property in a very short time.
For more information on Crossroads-DMD MIC, you can download the Offering Memorandum by clicking here.
If you have any questions about Crossroads-DMD MIC or would like investment information, please contact us.
