Lender History:
Since 1993, MCAN has operated as a loan company regulated by the Canadian government under the Trust and Loan Companies Act, as well as a Mortgage Investment Corporation (MIC) in Canada. This means they follow strict rules set by the Office of the Superintendent of Financial Institutions (OSFI), which oversees financial institutions in Canada. MCAN Mortgage is also publicly traded as a company.
The ownership structure of MCAN Mortgage (TSE:MKP) stock is a mix of institutional, retail and individual investors. Approximately <0.01% of the company's stock is owned by Institutional Investors, 18.42% is owned by Insiders and 81.56% is owned by Public Companies and Individual Investors
MCAN Lender Niches
MCAN Financial specializes in alternative lending solutions with a focus on self-employed borrowers. Their niches include rental programs that cover holding companies, tailored programs for Uber, taxi, and restaurant workers, flexible 35-year amortization options, and accepting contributory or boarder income to help clients qualify.
Factors to consider:
Interest rates with MCAN vary based on credit score and loan-to-value (LTV). They offer an A lending graduation program to help borrowers move from alternative to prime lending. Additionally, MCAN has a strong extended ratio program available, primarily at lower LTVs, providing flexible qualification options.
Contact Information and Links for MCAN Financial:
Mailing address Location:
MCAN Home Service Department
P.O. Box 351 Station C
Kitchener, ON N2G 3Y9Contact Information:
Phone (English): (877) 775-2970
Phone (French): (866) 475-7777
Fax: (877) 593-7757
E-mail: mcan@lenderservices.ca
