Experience

Magenta Capital Corporation

• Canada
• Financial Services
• 1 - 100 Employee

• Manager, Default Manageme

  • Sep 2010 - Present

  Exceptional Mortgages • Exceptional Returns Magenta Mortgage Investment Corporation (MMIC), and its sister company, Magenta II Mortgage Investment Corporation (MMIC II), are Perth, Ontario based mortgage investment corporations (MICs). The Companies are Ontario corporations, governed by the laws of the Province of Ontario, and the Income Tax Act, (ITA), a federal statute. The Companies employ the same method of operation, and share a common manager, but operate independently. The Companies source, underwrite and manage a portfolio of residential mortgages, secured by properties located primarily in metropolitan Ottawa, and throughout Eastern Ontario. The mortgage portfolio is funded by way of share capital and a bank credit facility. Revenues are generated primarily by mortgage interest, and secondarily by fees and penalties. Principal expenses are management fees and bank loan interest. The ITA requires that 100% of a MIC’s annual net income be distributed to its shareholders in the form of a dividend. The dividend may be received in cash, or reinvested by way of a stock dividend.


BOS Law
• Law Practice
• 1 - 100 Employee
• Law Clerk

  • Apr 2006 - Sep 2010