{"id":2379,"date":"2021-04-12T17:01:48","date_gmt":"2021-04-12T21:01:48","guid":{"rendered":"https:\/\/canadianlending.ca\/investors\/?p=2379"},"modified":"2023-05-17T16:20:44","modified_gmt":"2023-05-17T20:20:44","slug":"cmi-1st-quarter-recap","status":"publish","type":"post","link":"https:\/\/staging.canadianlending.ca\/investors\/cmi-1st-quarter-recap\/","title":{"rendered":"CMI 1st Quarter Recap"},"content":{"rendered":"
<\/p>\r\n
CMI Financial Group is wrapping up a very active first quarter, highlighted by a steady flow of new investors to our MIC Family of Funds and our whole loan program. A rebounding economy, strong housing-market conditions and a growing desire to diversify fixed-income portfolios have made private mortgages a highly attractive investment vehicle.
<\/p>\r\n
Assets under management grew considerably across CMI Mortgage Investments for the quarter ending in March. Our lending footprint continued to expand across Canada with a strong focus on higher-yielding second mortgage securities. Total assets under management increased by $119 million in the first quarter. We currently have $397 million in assets under administration, with total all-time funding reaching $695 million.<\/p>\r\n\r\n\r\n\r\n For our whole loan lending division, the composition of our portfolio is as follows:<\/p>\r\n\r\n\r\n\r\n The average yield on first mortgages was 7.6%. On second mortgages, the average yield was 9.8%.<\/p>\r\n\r\n\r\n\r\n Assets under management growth continued to accelate for our MIC Family of funds with annual yield targets continuing to be met consistently throughout the quarter.<\/p>\r\n\r\n\r\n\r\n<\/strong> \u00a0
Q1 Highlights<\/strong><\/p>\r\n\r\n\r\n\r\n\r\n