Private Companies • Fundamental Research Corporation

First Circle Mortgage Investment Corporation – Yield Rises to Highest Level Since 2009

Mar 17, 2023

Highlights In FY2022 (ended September 2022), this company yielded 7.0% vs our estimate of 6.5%, up...

Jan 5, 2023

Highlights 2022 (9M) yield was 6.3% (beating our estimate by 12bps) vs 6.1% in 2021 (full-year)....

Dec 19, 2022

Highlights 2022 (9M) yield was 5.9% (in line with our estimate) vs 6.0% in 2021 (full- year). This...

Oct 3, 2022

Highlights This company is a Mortgage Investment Corporation (“MIC”) primarily focused on offering...

Sep 28, 2022

Highlights In FY2022 (year ended June 2022), mortgage receivables increased 23% YoY to $938M (the...

Aug 23, 2022

Highlights In FY2022 (year ended March 2022), mortgage receivables increased 27% YoY to $186M vs...

Feb 9, 2022

Highlights This company, formed in 1999, is one of the largest private lenders in Western Canada....

Feb 1, 2022

Highlights Despite the pandemic, this company expanded its mortgage receivables by 32% YTD to...

Dec 16, 2021

Highlights Despite the pandemic, mortgage receivables grew 17% YTD, to $118M. This report is...

Dec 10, 2021

Highlights At the end of Q3-2021, mortgage receivables grew 9% YTD, to $175M. The MIC had $20M in...