First Source Mortgage Investment Fund Announces Bonus Distribution to Unitholders

TORONTO, May 26, 2022 (GLOBE NEWSWIRE) -- First Source Mortgage Investment Fund (the "Fund") has paid a bonus distribution of $0.01 per $10 Class F Unit ("Unit"). The bonus distribution equals the excess income earned by the Fund for the fiscal year ended December 31, 2021. The total distribution per unit for the 2021 fiscal year, inclusive of this bonus distribution, was $0.77/Unit or a compounded annualized return of 8.0%. The strong performance of the Fund is a direct result of one of, or a combination of, the following: a) strong performance of the mortgage assets; b) competitive market conditions; c) best in class underwriting practices; and d) favorable lending environment performance firmly in the top decile of Canadian mortgage funds.

"It was another successful year filled with a unique set of challenges. As we begin to emerge from the pandemic, we forecast a stark increase in lending opportunities coupled with rising interest rates. That is usually a good formula for investors" said David Mandel, CEO of First Source Mortgage Investment Fund.

To learn more about the First Source Mortgage Investment Fund, including investment opportunities and qualification criteria please contact [email protected]. 

About First Source Mortgage Corporation

Founded in 2006, First Source is a boutique commercial mortgage lender based in the Toronto Area supporting Mortgage Brokers, Real Estate Advisers, as well as Builders and Developers with Non-Bank Mortgage Lending Services. 

About First Source Mortgage Investment Fund

The First Source Mortgage Investment Fund is a diversified portfolio of commercial and development property mortgages focused in the Greater Toronto Area and select other Southern Ontario markets. For Fund performance, investment opportunities and investment qualifications please visit www.firstsourcemortgage.ca and/or contact 416-221-2238 Ext 32.