FRC MIC industry data quoted in the following article:

In Ontario, FSCO says syndicated mortgages represent a small portion of all mortgage transactions, though their value rose from 2.5% to 4.2% of the province’s mortgage market value between 2009 and 2015 (the 2016 numbers aren’t yet available).

Also growing is investing through mortgage investment corporations. Vancouver’s Fundamental Research estimates there are more than 200 MICs in Canada, with the country’s total MIC industry value estimated at $8 billion to $10 billion. Fundamental Research tracks more than 70 private and public MICs, and says their lending grew by 12.6% in 2016.

“Often we get calls from syndicators who offer us, effectively, bribes,” Jacobson says, noting that he refuses any deal offering trailer fees to financial advisors. “If a client puts in $100,000 and there’s a 10% or 5% commission [to the advisor], that’s a lot of money going off the top that’s not going into the project.”

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