Headquarters: Ottawa, ON
Year founded: 1994
Established in 1994, Magenta Capital Corporation is one of Canada’s oldest and largest mortgage investment corporations, with current assets under administration exceeding $300 million. “To better serve our broker partners, our team is investing significantly in research and development for new products and programs,” says Frank Tuzi, vice-president of underwriting, who adds that “2020 hasn’t been an easy year for anyone, and we wanted to renew our commitment to making our partnerships with brokers straightforward and simple, starting with a refresh of our offerings. I’m particularly excited about a true equity mortgage we’re working on. This no-doc product will be our easiest and fastest solution yet for brokers and their clients.”
Magenta partners with brokers to provide custom solutions for clients with short-term credit challenges and helps facilitate their return to traditional lending channels. Magenta lends across eastern and southwestern Ontario, including the greater Ottawa, Kingston, Guelph, Kitchener-Waterloo and London areas, and its team of sales managers and underwriters helps brokers guide their clients through every step of the borrowing process, no matter how quick the close is.