poised to go public, it could become an even larger and more influential player in the mortgage industry.
“While residential mortgage brokers really just know MCAP
as a monoline residential lender there is a commercial mortgage operation as well. There is a limited partnership aspect to the current company and quite often limited partnerships find reasons to eventually go public,” Ron Butler
, industry veteran and broker with Butler Mortgage, told MortgageBrokerNews.ca via email.
“The executives are all smart people, this is likely a repositioning to allow limited partners to have a more liquid means to manage their equity positions in the company and it may also be a better method to increase capital which is always a good thing for a non-bank lender.”
filed to go public, MortgageBrokerNews.ca reported Thursday.
It is the second largest mortgage finance company in Canada in terms of 2015 origination volume and mortgages under administration.
had $55 billion in mortgages under administration as of April 30, 2016.
In 2015, MCAP
had $14.3 billion worth of mortgage originations and $4 billion renewals.