Mortgage Broker Information

Mortgage Broker Information

For more than a collective 100 years, the team of Canada Penfund Mortgage Corporation has provided finance products and facilities to the commercial brokerage community across Canada. Canada Penfund recognizes that it cannot be all places and that the brokerage community plays an essential partnership role in bridging the origination gap between borrower and lender.

 

We combine a steady track record with a broad range of products and flexible solutions for brokers and their borrowers. We respond in writing within 48 hours of receipt of a completed file; our commitment process is electronic and streamlined and we have funding teams to get the job done.

 

We operate on a full disclosure basis so that parties understand the file at all times. Brokerage fees are delivered straight from funding to the broker at funding and broker service fees are protected by Canada Penfund throughout the transaction.

Loan Sizes General

Small loans are a core business of Canada Penfund, but its business is not limited to small loans. Small loans are funded with in-house funds from the Fund.

 

For loans over $3MM, Canada Penfund syndicates with insitutional investor partners. We have over 100 collective years of experience in providing commercial mortgages to our pension fund, trust and life company clients. Our team is known and respected nation-wide amongst institutional investors. Accordingly, we have no limit on size of loan. We have acted for over 30 pension funds and other investors in Canada.

General Lending Guidelines

  • First and Second Mortgages (on most asset types)
  • Up to 85% Loan-to-Cost/Value (income producing) Properties
  • Acquisitions, Bridge Loans, Refinancing, Equity Take-Out
  • Standard Lender Due Diligence (Borrower, Legal, Appraisal, Environmental & Engineering Reviews)
  • Clearly-Defined Exit or Term Strategy

Canada Penfund acts as correspondent agent for many institutional investors. Accordingly, it has no limit on loan size. Loans that exceed the normal size limit of the Trust, roughly $3MM, shall be syndicated between the Trust and institutional partners. Accordingly, there is no loan size limit. What we speak of below is mainly the criteria of the Trust.

Loan Sizes General

Small loans are a core business of Canada Penfund, but its business is not limited to small loans. Small loans are funded with in-house funds from the Fund.

 

For loans over $3MM, Canada Penfund syndicates with insitutional investor partners. We have over 100 collective years of experience in providing commercial mortgages to our pension fund, trust and life company clients. Our team is known and respected nation-wide amongst institutional investors. Accordingly, we have no limit on size of loan. We have acted for over 30 pension funds and other investors in Canada.

General Lending Guidelines

  • First and Second Mortgages (on most asset types)
  • Up to 85% Loan-to-Cost/Value (income producing) Properties
  • Acquisitions, Bridge Loans, Refinancing, Equity Take-Out
  • Standard Lender Due Diligence (Borrower, Legal, Appraisal, Environmental & Engineering Reviews)
  • Clearly-Defined Exit or Term Strategy

Small Loans

Pendfund Income Fund I loans in this class are expected to average 12 to 60 months in duration and will be underwritten to a maximum 75% loan-to-value with normal ancillary security in place.

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Niche Lending

This type of lending for the purposes of this description is defined as cases largely institutional quality but lacking in a minor way in an area other than quality of security.

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Syndicated Loans

Syndicated loans are loans Canada Penfund will fund on behalf of a syndicated partner or Investor and will usually exceed a loan amount of $3MM.

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