About Us
At EquityLine, we’re all about mortgages
The EquityLine Group, based in Richmond Hill, Ontario, Canada offers a full range of mortgage services through inter-related
corporations and third-party partners. Founded almost a decade ago, the Group has evolved to meet increasing demand for
our investor and borrower services.
EquityLine mortgage investment corporation
We established EquityLine Mortgage Investment Corporation (EquityLine MIC) to provide a more consistent source of mortgage funding for borrowers and contracted mortgage brokers. Additionally, EquityLine MIC enables private and public investors to participate in pools of mortgages. It pays a monthly flow-through dividend.
EquityLine MIC raises investment funds through:
- An equity listing on the Jamaican Stock Exchange (JSE: ELMIC)
- Series F and Series B Preferred Shares available through contracted Canadian Exempt Market Dealers (EMDs) and Investment Industry Regulatory Organization of Canada (IIROC) dealers
- A prospectus-exempt Regulation A Tier Two Offering in the U.S., regulated by the U.S. Securities Exchange Commission
- Contractual relationships with institutional investors and portfolio managers
- Debentures issued to third-party investors
EquityLine
Service Corp.
EquityLine Services Corp. manages EquityLine MIC through a management contract. The Manager sources, structures and manages mortgages on behalf of EquityLine MIC and other contracted entities. This includes evaluating projects, collecting payments from borrowers and, if required, executing enforcement proceedings. The Manager may charge lender fees directly to borrowers as compensation for its services.
EquityLine
Financial Corp.
EquityLine Financial Corp. is a privately held mortgage brokerage, operating in Ontario, Canada, that connects qualified borrowers with third-party mortgage providers.
EquityLine Financial Corp.
EquityLine Financial Corp. is a privately held mortgage brokerage, operating in Ontario, Canada, that connects qualified borrowers with third-party mortgage providers.
Meet our team
Our senior managers have decades of experience in real estate and mortgage financing and the right mix of vision and discipline to oversee a successful MIC that delivers income to investors, business growth to advisors, and borrowing solutions to homeowners. They are supported by a seasoned independent board that adds an important layer of governance and risk management to inform our strategic plans. Here are our key leaders.
Executive Team
Sergiy Shchavyelyev
President and Chief Executive Officer; Director
Sergiy Shchavyelyev is the CEO and Founder of the EquityLine Mortgage Investment Corp. (EquityLine MIC) and VeleV Capital. EquityLine MIC is publicly traded corporation on the Jamaica Stock Exchange. Sergiy received a Financial Accounting certificate from Harvard Business School and holds a Master of Law Degree from Mechnikov National University.
He currently manages over C$110 million between funds and development projects. Sergiy is a real estate developer and mortgage broker, with extensive lending and financial experience in real estate assets. He has a track record of closing and redeveloping multi-million-dollar transactions in the real estate industry. He owns, in part, a family operated real estate brokerage, EquityLine Financial Corp, located in Toronto, Canada. Sergiy has been an active real estate broker from 2006 and mortgage specialist since 2008. Prior to working as a real estate broker, lender, and re-developer, Sergiy worked in a small claims court and land registry office as a paralegal for over two years. He joined his family real estate business where he was involved in residential and commercial developments, custom built dwellings, apartment buildings and multi-million-dollar commercial real estate projects. Sergiy has completed over C$750 million in real estate transactions Sergiy is a member of the advisory committee of PCMA Canada (Private Capital Markets Association of Canada) and director of CAMLA (Canadian Alternative Mortgage Lender Association).
Mark Korol, CFA, CPA
Chief Financial Officer, EquityLine Mortgage Investment Corporation
Mark Korol has over 20 years’ experience as a chief financial officer in a variety of industries, including 8 years of public company experience at Zenon Environmental, CDI Education Corp, and most recently, Char Technologies where he has spent the last 2 years.
Prior to that he was the CFO at the Arturos Group, an international vertically integrated hospitality business with 2,000 employees and prior to those 12 years with the Xela Group of Companies. He has experience at National Bank Financial as a Research Analyst. Mark is a Chartered Financial Analyst (CFA) and a Certified Public Accountant (CPA). Mark is also a Certified Fraud Examiner (CFE) and Accredited Business Valuator (ABV) and holds the Institute of Corporate Directors designation (ICD.D).
Sergiy Przhebelskyy
Chief Operating Officer; Director
Sergiy Przhebelskyy brings a wealth of banking sector knowledge having spent time over seven years in the banking and financial sectors at TD and The National Bank of Canada. in 2014, Sergiy transitioned out of the traditional mortgage lending channels to the mortgage broker channel.
During this time, he gained experience and insights into alternative mortgage lending practices including private mortgage financing. He has completed more than $350 million dollars in residential mortgage transactions over his career as a mortgage specialist. Sergiy's ability to source and secure the best deals that match client's needs continues to win him high praise. At EquityLine MIC, Sergiy is involved in daily operations of underwriting, deal compliance, administration, and office management. He has an excellent knowledge of real estate sector, appraisals reports, mortgage structuring and funding processes.
Robert C. Kay
Executive Vice President; Director
Robert C. Kay is a seasoned Corporate Director and Business Advisor. He combines business and legal skills with extensive experience in international commerce to develop and assess complex strategies with governments and multinational companies.
Robert has served as a Corporate Director in both privately held and publicly listed companies, serving on Governance, Audit, and Strategy Committees. He is currently Chairman, Advisory Board, the Migao Group; Chairman, Baycrest Hospital and Long Term Care Residence; Corporate Director of EquityLine Mortgage Investment Corporation, and the Royal Canadian Military Institute. Notable governance roles have included: Chairman-Canadian Commercial Corporation; Vice Chairman & Lead Director-Migao Corporation; Chairman-Migao Special Committee For Going Private; Chairman-Swiss/Canadian Chamber of Commerce; Director In Residence-Institute of Corporate Directors; Board Director-Changfeng Energy Inc; Board Director-American Chamber of Commerce (Ontario Council). Robert was a teaching Board Member in the Integrated Thinking Practicum of the MBA degree program at the University of Toronto. He is a former Deputy Judge of the Ontario Superior Court of Justice, SCC branch. Earlier in his career, Robert served as Personal Assistant to the Deputy Prime Minister of Canada. Robert is Chairman of the Royal Canadian Military Institute Audit Committee, and is also a Member of the American Judges Association, and the Institute of Corporate Directors.
Mark Simone
Vice President
Mark Simone is a business executive with extensive C-Suite experience in the development and management of businesses in the insurance, finance, and medical sectors.
He was the President of Medipac International Insurance, Canada’s largest retailer of long-term travel medical insurance, the Executive and Managing Director of the Canadian Snowbird Association, one of Canada's largest lifestyle affinity groups, the President of Ontario Health Clinics, serving over fifty thousand patients and, most recently, the Vice President of Strategic Relations with Pinnacle Wealth Brokers, Canada's largest Exempt Market Dealer.
Stephen Clarke
Vice President
Stephen Clarke is an executive leader with over 30 years’ experience in the marketing and sales areas of the wealth management and financial services sectors.
Stephen has significant experience in different regulatory environments including the Investment Industry Regulatory Organization of Canada (IROC), the Mutual Fund Dealers Association (MFDA), the Financial Services Regulatory Authority (FSRA) and Private Capital Markets (Issuers and Exempt Market Dealers). Stephen has worked in both the product (asset manager, issuer) and distribution side of the wealth management industry. He has a unique ability to structure and promote a wide range of innovative products through multiple channels toa diverse investor audience. He holds an Honours Bachelor of Commerce and a Master of Business Administration (MBA) from McMaster University.
Arthur Smelyansky
Chief Portfolio Manager
Arthur Smelyansky currently serves as the Chief Executive Officer and Portfolio Manager at Maccabi Capital Management LLC and is a Portfolio Manager, Hedge Fund Trader and Co-Founder of Maccabi Equity Income Fund.
Arthur was the Senior Analyst and Trader at Bonello Holdings Inc., located in Toronto, Canada, from. September 2012 to January 2018. During his tenure at Bonello Holding, the company improved investment returns from 6% to 9.71%. Arthur's responsibilities include credit analysis, market research for EquityLine MIC and direct management of a portfolio with assets over $40 million. Arthur's specialty is in options trading and using derivatives to preserve capital and lower portfolio volatility.
Arthur holds the CIM (Chartered Investment Manager), DMS (Derivatives Market Specialist) and PFP (Personal Financial Planner) designations. He is currently working to obtain the CAIA (Chartered Alternative Investment Analyst) designation.
Ungad Chadda
Independent Director
Ungad Chadda was Senior Vice President of TMX Group, parent company of Toronto Stock Exchange and Enterprise Head of Corporate Strategy, Development and External Affairs.
He was responsible for building and maintaining the TMX Group investor base as well as supporting its public interest mandate and strategies to grow as a company. Ungad joined TMX Group in 1997. During his tenure, Ungad held progressively senior roles, including Director of Listings, TSX Venture Exchange; Chief Operating Officer, TSX Venture Exchange; Vice President, Business Development, Toronto Stock Exchange and TSX Venture Exchange, Senior Vice President, Toronto Stock Exchange and President, Capital Formation.
Brian Koscak
Independent Director
Brian Koscak is the Vice President and Head of Business & Legal Affairs to a film, television and media financing company and its affiliates located in Toronto, Ontario since November 2019.
Between 2015 and 2019, Mr. Koscak was the President, Chief Compliance Officer and General Counsel of a large exempt market dealer based in Calgary, Alberta, that was also registered as a portfolio manager and investment fund manager. Prior to July 2015, Mr. Koscak was a partner in the Toronto office of a national Canadian law firm where he specialized in capital markets and securities compliance and regulatory law with an emphasis on private and public financings, investment funds and securities registration and compliance matters. Mr. Koscak has served, as a member of the Ontario Securities Commission’s Exempt Market Advisory Committee (2012 – 2017), the Alberta Securities Commission’s Exempt Market Dealer Advisory Committee (2015 - 2021) and is the former Chair and Vice Chair and current Executive member and Chair of the Advocacy Committee of the Private Capital Markets Association of Canada. Mr. Koscak was also appointed as a member of the Expert Advisory Committee of the Ontario Government’s Capital Markets Modernization Taskforce established in 2020. Mr. Koscak obtained his Bachelor of Arts (Honours) in 1987, Master of Arts (Judicial Administration) in 1988, LL.B. and J.D. in 1997 and his LL.M. (Securities) in 2005. Mr. Koscak is licensed to practice law in the Provinces of Ontario and Alberta.
Donald Hathaway
Independent Director, Chair of the Governance Committee and Lead Director
Don Hathaway has spent over forty years as a business CEO, a senior partner in two major international consultancies and a corporate director on multiple boards while accumulating expertise in strategy, finance, risk management, marketing and corporate governance.
Key roles have included the inaugural President and CEO of the Ontario Centres of Excellence and of the Global Risk institute in Financial Services, and as a Founder and the original Board Chair of Compute Canada, the national system of high-performance computers supporting research at all Canadian universities (he remains the Emeritus Chair). He has been a Governor of both York University and Ontario Tech University, and he is a former Chair of the University of Waterloo Advisory Council; Board of Governors, The Ontario Free Trade Policy Advisory Council, and the Canadian Employment and Immigration Advisory Council.
Eric Klein
Independent Director, Chair of the Audit Committee
Eric Klein is currently President of Klein Advisory Services Inc, a firm that focuses on business strategy, complex mergers, acquisitions, divestitures, and financings for mid-sized Canadian corporations.
With more than 30 years of experience, Eric focuses on providing results-driven corporate finance advisory services for mid-market Canadian companies. Recently, Eric was a senior executive with a Canadian public financial institution. Prior to that he was the founder and Managing Director of the Corporate Finance, Valuations & Transaction practice of Farber Financial Group. Eric is a graduate of McGill University with a BComm and a graduate Diploma in Public Accounting and holds designations as a Chartered Public Accountant, a Chartered Business Valuator and is a member of the Institute of Corporate Directors.
Willie Handler
Independent Director, Chair of the Compensation Committee
Willie Handler has 28 years of experience in the insurance sector with 20 years working on insurance regulatory policy with the Financial Services Commission of Ontario and eight years’ operating his own consulting business.
Willi has provided strategic advice to a wide range of clients dealing with an evolving regulatory environment. He holds a Bachelor of Science from the University of Toronto, a Master's degree in Health Administration from the Fox School of Business at Temple University and a Master's degree in Public Administration from the Schulich School of Business at York University.
Our Investment Strategy
We preserve capital while generating consistent monthly dividends through an
historically proven investment strategy that mitigates risk.
Rigorous underwriting policies and practices
EquityLine only lends to credible, qualified borrowers. Our underwriting policies and practices have been reviewed and approved by a Tier 1 Canadian Bank.
Short-term loans on residential homes (less than 12 months)
By focusing on short-term loans only, EquityLine significantly mitigates the effects of real estate market dips or corrections. Mortgage loans historically average 8 months, never more than 12 months.
Maximum 80% LTV (loan-to-value)
This leaves a minimum 20% buffer in case of real estate market fluctuations. Historically, EquityLine’s mortgage portfolio LTV ratio is 73%.
Focus on residential home mortgages within the GTA
Residential mortgage defaults are historically lower than commercial or industrial mortgages. The Greater Toronto Area (GTA) continues to drive strong quality mortgage demand.
Experienced management team guided by an independent board of directors
EquityLine management team has over 100 years of real estate and investing experience. The team is supported by an independent board of directors with extensive knowledge of financial services, regulatory matters, and publicly traded reporting experience.
EquityLine
Code of Conduct
We practice a strong code of business conduct that includes:
- Strict compliance with legislation and regulation
- Adherence to a conservative risk profile in both lending and investing
- A strong and active board which has a majority of independent directors, members of the board have significant experience in many areas of the financial services industry
Corporate Governance
EquityLine MIC’s Board of Directors approves and, through its committees, actively monitors all aspects of the business. The board and management
believe that accountability and transparency increase shareholder confidence and have a positive impact on our business success. Furthermore, being a
reporting issuer to the Jamaica Stock Exchange adds additional regulatory oversight and responsibility.
Board Charter
Committee Charters
Each of the board’s three permanent committees are comprised of
independent directors.
Compensation Committee Charter
Corporate Governance Committee Charter
Review our quarterly and annual financial reports on the News and
Reports page.
Professional Service Partners
The following organizations support our business activities.
Canada
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Auditor
Grant Thornton LLP
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Regulator
Financial Services Regulatory Authority of Ontario(FSRAO)
Ontario Securities Commission (OSC)
-
Corporate Lawyers
Cassels Brock & Blackwell LLP
-
Bank
TD Canada Trust
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Transfer Agent
SGGG Fund Services Inc.
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Registered Plan Trustee/Custodian
Computershare Trust Company of Canada (Registered Plan Trustee and Custodian)
Olympia Trust Company
(Registered Plan Trustee)
United States
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Regulator
U.S. Securities and Exchange Commission(SEC)
Financial Industry Regulatory Authority (FINRA)
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Corporate Lawyers
Cassels Brock & Blackwell LLP
Richards, Layton & Fingers, P.A.
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Jamaica
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Exchange
Jamaica Stock Exchange (JSE)
USD Listing ("ELMIC")
Corporate Lawyers
Patterson Mair Hamilton
Bank
Sagicor Bank Jamaica Limited
Clearing and Settlement
Jamaica Central Securities Depository Limited
Industry dealers and exchanges
Industry memberships
The EquityLine Mortgage Investment Corporation is not a reporting issuer in any province or territory of Canada, and therefore the Series B and Series F Preferred Shares are subject to an indefinite hold period. They cannot be traded but they can be redeemed under the terms of our redemption policy as described in the Offering Memorandum. The Series B and Series F Preferred Shares are only available to qualified investors through licensed advisors.