Hosper Mortgage, a leading Mortgage Investment Corporation (MIC) in Canada, proudly announces that it has secured a $50 million line of credit
from two of the country’s largest financial institutions, Bank of Montreal (BMO) and TD Bank. This significant capital infusion will enable Hosper to expand its portfolio of high-quality private mortgage loans, providing more Canadians with access to reliable non-bank financing.
James Grantis, Co-Founder and Director of Hosper Mortgage, expressed enthusiasm saying, “We are thrilled to have the support of BMO and TD Bank as we continue to grow our business serving both borrowers who are looking for alternative mortgage solutions, and investors who deserve access to mortgage-backed investments. This funding is a testament to the strength of our business model and the confidence that these reputable institutions have in our future.”
Founded in 2016, Hosper Mortgage has established itself as a trusted provider of mortgage loans and investments. For its borrowers, Hosper offers quick and flexible financing solutions, tailored to their needs. For its investors, the company focuses on capital preservation and passive income generation. The $50 million in line of credit will be utilized to further diversify Hosper’s MIC portfolio. For existing preferred shareholders, this financing brings the following benefits:
- By increasing liquidity for the MIC fund, the portfolio size can now fluctuate based on quality deal flow and not capital origination.
- By leveraging debt for up to 33% of the portfolio a net income surplus is projected to be generated which will be distributed to preferred shareholders, enhancing returns.
- The conditions of this financing require rigorous monthly reporting to both banking partners, which will also enhance monthly reporting and transparency for all preferred shareholders.
“Building the strongest possible mortgage portfolio will keep our banking partners happy, and our shareholders will directly benefit too. This fits a core value of our business: to keep stakeholder interests aligned wherever possible,” said Grantis.
Representatives from both BMO and TD Bank shared their confidence in Hosper's capabilities. “It’s been a pleasure to support Hosper’s growth objectives over the last two years and we applaud them on their performance to date,” said Emma Gul, Associate Director at BMO Corporate Finance Division.
Joshua D’Souza, Director of Financial Institutions at TD Commercial National Accounts, added, “TD is pleased to support Hosper Mortgage Investment Corporation's strategy and growth objectives through the upsizing of their credit facility. Hosper's prudent and transparent approach to mortgage lending has been a refreshing tailwind in the face of an uncertain housing market. We look forward to continued execution of the strategy through the next phase of Hosper's unique growth story."
Hosper Mortgage was the #1 ranked alternative lender based on a nationwide broker survey from 2020 to 2023. Hosper has established itself as a trusted partner for investors seeking passive and predictable returns secured by real estate in Ontario.
For more information about Hosper Mortgage and its investment opportunities, you can reach them at
Toronto, Canada