A Mortgage Investment Corporation (MIC) is a federally regulated investment structure that pools investor capital to fund mortgages, typically secured by Canadian real estate. MICs are commonly used to provide investors with exposure to private mortgage lending without directly managing individual loans.

MICs must follow specific tax and regulatory rules under Canadian law, but they vary widely in structure, underwriting standards, risk tolerance, and portfolio composition. Understanding these differences is essential before investing.

Evaluating a MIC involves reviewing its lending strategy, loan-to-value ratios, geographic exposure, borrower quality, historical performance consistency, liquidity terms, and risk management practices.

Sophisticated investors should also review offering documents carefully and assess how the investment fits within their broader asset allocation strategy. Independent evaluation can help identify structural strengths, potential conflicts of interest, and risk concentrations.

The exempt market refers to investments offered outside of a public stock exchange, typically available to accredited or eligible investors. These offerings are distributed under prospectus exemptions and are governed by securities regulations specific to each province.

Because exempt market investments are not publicly traded, they often require enhanced due diligence and a clear understanding of liquidity, risk, and suitability considerations.

Many investment products are distributed by representatives affiliated with the issuer or fund manager. Independent guidance can provide an objective perspective by evaluating MICs and exempt market products without being tied to a specific proprietary offering.

This approach allows investors to focus on structure, risk alignment, and portfolio suitability rather than product promotion.

MIC investors are often high-net-worth individuals seeking income-oriented investments secured by real estate. They may include experienced real estate investors, individuals diversifying beyond traditional fixed income products, or families navigating generational wealth transitions.

Suitability depends on individual financial circumstances, accreditation status, risk tolerance, and long-term objectives.