Your pathway to Private Mortgages
THE COMPASS GROUP
Your pathway to Private Mortgages
The Compass Group
What is Private Mortgage Lending?
We are right for you!
Private lenders in Canada offer alternative financing solutions that differ from traditional banks and lending institutions. Private lenders play a crucial role in providing financing options beyond what is traditionally offered, especially for borrowers with unique situations or property-related challenges
Paul Ivany
The Compass Group
Paul is the founder and president of The Compass Group, a financial services firm he established in 1985. Initially, the company focused on life and health insurance, as well as client segregated funds and mutual funds. However, over the past 25 years, Paul has shifted the company's primary focus to the mortgage industry. Paul and The Compass Group now specializes in the sourcing, reviewing, approval, and oversight of the entire mortgage lending lifecycle for a select group of mortgage investors.
This includes activities such as identifying potential mortgage opportunities, conducting due diligence on mortgage applications, approving loans, and monitoring the performance of the mortgage portfolio on an ongoing basis. Paul's extensive experience and expertise in the mortgage sector have made The Compass Group a trusted partner for investors seeking to participate in the mortgage market. The company's comprehensive approach to mortgage management has helped its clients navigate the complexities of the industry and achieve their investment objectives.
Rebecca Amaranto
The Compass Group
Rebecca is the senior administrative assistant for The Compass Group. As part of her duties, she prepares and sets up mortgages in the company's mortgage database, which includes handling commitments, discharges, and related mortgage documents. She also assists clients and other team members with bank monitoring, recording, and banking transactions, and serves as the key support team member for all things mortgage-related, including document retention and control.
Leanne Fudge
The Compass Group
Leanne's primary responsibilities at The Compass Group include communicating with lenders about the status of their investments, ensuring timely management of maturity dates, and effectively communicating with clients to ensure their mortgage files are handled efficiently to resolve maturity issues.
Additionally, she liaises with enforcement teams as needed to address any delinquencies, evaluates files on a case-by-case basis to determine their eligibility for renewal, and reviews incoming applications for suitability.
Andrea Birnie
The Compass Group
Andrea works as an Insurance Monitoring Specialist at The Compass Group. Her main responsibilities include monitoring mortgage payments, handling mortgage insurance, discharges, and overseeing property management and related tasks. This
involves oversight of monthly mortgage payment irregularities, communications with borrowers and lenders, and preparing mortgage discharges while maintaining the mortgage database.
Key Features
Private Mortgage Loans
Our Purpose
Private lenders offer mortgage loans to borrowers who may not qualify for traditional bank mortgages due to factors such as poor credit, high debt, or non-traditional income.
Short-Term:
These loans are usually short-term, ranging from 6 months to 3 years.
Interest-Only:
Borrowers typically pay only the interest during the loan term.
Property-Centric:
Private lenders focus more on the property’s value and condition rather than solely relying on the borrower’s credit and income.
Emphasis on Property Value
Primary Factor & Flexibility on Collateral
Unlike banks, private lenders consider the property’s value as a primary factor. If the property has substantial equity, private lenders may be more willing to provide financing.
They are often more flexible in evaluating collateral, which can benefit borrowers with unique circumstances
Emphasis on Property Value
Primary Factor & Flexibility on Collateral
Unlike banks, private lenders consider the property’s value as a primary factor. If the property has substantial equity, private lenders may be more willing to provide financing.
They are often more flexible in evaluating collateral, which can benefit borrowers with unique circumstances
Exit plan Consideration
Collaboration & Exit Strategies
Unlike banks, private lenders consider the property’s value as a primary factor. If the property has substantial equity, private lenders may be more willing to provide financing.mortgages they cannot afford.
Exit plans may involve refinancing, selling the property, or improving credit to eventually qualify for a traditional mortgage
Any Questions?
Frequently Asked Questions
How does The Compass Group ensure the security of my investments?
We prioritize the security of our lenders' investments by conducting thorough due diligence on potential borrowers and their proposed real estate projects. Additionally, we implement stringent risk management protocols and provide ongoing monitoring to mitigate risks and protect lenders' capital.
What are the benefits of private mortgage lending compared to other investment options?
Private mortgage lending offers several advantages, including potentially higher returns, diversification of investment portfolios, and greater control over investment decisions. Additionally, private mortgage loans are secured by real estate assets, providing added security for lenders.
What types of properties can I invest in through private mortgage lending?
At The Compass Group, we offer opportunities to invest in various types of real estate properties, including residential homes, commercial buildings, and land development projects. Our diverse portfolio allows lenders to choose investments that align with their preferences and risk tolerance.
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Regulatory Requirements contracted to MOR Mortgage 12760 Ontario,
Mortgage Agent # M12000692