All About Mortgages
The EquityLine Group of Companies is all about mortgages. It has been since the group was established in 2014.
We started as a mortgage brokerage, sourcing short term funding to residential homeowners who needed help with renovations, upgrades, and debt consolidation.
In 2018, to better serve our borrowers, we launched EquityLine Mortgage Investment Corporation. This facilitated direct lending versus sourcing of mortgage funds. In addition, the mortgage investment corporation structure provides qualified investors with an opportunity to participate in pools of 1st and 2nd urban residential mortgages across Southern Ontario. Management believes this approach is not only better for our borrowers, but that it benefits potential investors with the opportunity to generate a predictable monthly income.
Today, EquityLine is an established and successful corporation carefully managing millions of dollars of investor funds.
The Series A Preferred Shares of the Corporation are publicly traded on the Jamaica Stock Exchange while the Corporation’s Series B Preferred Shares and Series H Preferred Shares have been made available on a private placement basis to qualified investors through select exempt market dealers.
Our success to date is based on our management team’s history in the mortgage industry. They are professionals who cumulatively have more than four decades of relevant and successful sectoral experience.
Code of Conduct
Our managers have a code of business conduct that guides all the divisions within the group. This code includes:
- Strict compliance with legislation and regulation
- Adherence to a conservative risk profile in both lending and investing
- A strong and active Board that is heavily weighted with independent directors who have significant experience in many areas of the financial services industry
The EquityLine Group of Companies is comprised of three affiliated companies.
The first was EquityLine Financial Corporation. It was incorporated in 2014 as a mortgage brokerage, sourcing short term funding to residential homeowners who needed help with renovations, upgrades, and debt consolidation.
EquityLine Mortgage Investment Corporation was incorporated under the Ontario Business Corporation Act (the “OBCA”) on January 18, 2018. The Corporation does not have any subsidiaries.
EquityLine Services Corporation is the manager of the Corporation pursuant to the terms of a management agreement entered into by the parties on January 31, 2018. The Manager was incorporated under the OBCA on January 18, 2018. The Manager provides its services directly or indirectly through EquityLine Financial Corporation an affiliated company to the Manager.
The headquarters and registered office of the Corporation, Manager, and EquityLine Financial is located at 550 Highway 7 Avenue East, Suite 338, Richmond Hill, Ontario L4B 3Z4.
The current relationships between the Corporation, the Manager, EquityLine Financial, and the Corporation’s custodian are set out below.
Our plan is to continue to grow the EquityLine Group of Companies.
Our Board of Directors, after consulting with corporate counsel and other advisors, has set a target for the Corporation to accumulate $90 million of assets under management over the next four-year period commencing (2020 through to 2024). We have initiated the process of setting into place the business systems required to effectively manage an expanded volume of business.
* Readers should not place undue reliance on forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of EquityLine’s management on the date that statements are made. EquityLine undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, change, except as required by law.