MCAN Mortgage Corporation
Public Corporation · Residential
Managed by MCAN Mortgage Corporation
Data as of: March 31, 2026
This review is compiled by WOWA for informational purposes only and is not investment advice, an offer, or a solicitation. Figures are drawn from the manager's published materials as of the dates shown and may change. Returns are historical and do not guarantee future results. Verify all details with the manager or a licensed advisor before investing.
About the fund
MCAN Mortgage Corporation (TSX: MKP) is a publicly traded, federally regulated mortgage investment corporation incorporated in 1991. It invests across residential, construction, and commercial mortgages, and additionally holds equity interests in REITs and private funds through its MCAN Capital division. As the only MIC in Canada that issues CDIC-insured term deposits, MCAN occupies a structural position distinct from most private MIEs. It retains a 14% equity stake in MCAP, one of Canada's largest independent mortgage originators.
At a glance
| Assets under management (AUM) | $8.3B CAD |
| 2025 return | 32.7% |
| Overall LTV | 67.4% |
| First mortgages | Predominantly |
| Property focus | Residential (79.4%) / Construction (18.6%) / Commercial (1.1%) / Multi-Residential (0.9%) |
| Structure | Public Corporation |
| Investor access | Available to individual investors |
Portfolio & performance
The portfolio is composed of residential mortgages (56.8%), construction mortgages (13.3%), commercial mortgages (0.8%), multi-residential mortgages (0.7%) and other categories mortgages (28.4%).
| Property Type | Share (%) |
| Residential | 56.8% |
| Construction | 13.3% |
| Commercial | 0.8% |
| Multi-Residential | 0.7% |
| Other Categories | 28.4% |
MCAN Mortgage Corporation has a focus on Ontario, with 68% of its mortgages located in Ontario, followed by Alberta (15.5%), BC (12%), Quebec (2.1%), Atlantic Canada (0.1%).
| Province/Region | Share (%) |
| Ontario | 68% |
| Quebec | 2.1% |
| BC | 12% |
| Alberta | 15.5% |
| Atlantic Canada | 0.1% |
| Other Categories | 2.3% |
MCAN Mortgage Corporation returns
| Calendar year | Net return |
| 2023 | 20% |
| 2024 | 24.7% |
| 2025 | 32.7% |
Fund facts
| Structure | Public Corporation |
| Managed by | MCAN Financial Group internal management team |
| First mortgages | Predominantly |
| Leverage | Leveraged |
| Latest data | March 31, 2026 |
Additional fund details
MCAN is structured as a Mortgage Investment Corporation (MIC) for tax purposes and is also regulated by OSFI as a federally chartered loan company. Its business includes originating, holding and securitizing mortgages, while also investing in mortgages and related real estate credit assets. MCAN reported return on equity of 15.05% in 2023, 13.4% in 2024 and 12.07% in 2025. MCAN targets an annual return on equity of 13% to 15%.
Investor access
Available to individual investors
This fund is available to individual investors.
Minimum investment terms are not publicly disclosed.
About the manager
MCAN Financial Group (TSX: MKP) is a Toronto-based, internally managed mortgage investment corporation founded in 1991 and regulated by OSFI as a federally chartered loan company. It is also structured as a MIC for Canadian tax purposes, enabling pass-through taxation of mortgage income. MCAN invests across residential, construction, and commercial mortgages, and holds a strategic 14% equity interest in MCAP, one of Canada's largest independent mortgage finance companies. It also issues CDIC-insured term deposits, a feature unique among MICs and even MIEs. MCAN is not taxed at the corporate level and all taxable earnings flow-through to shareholders via regular quarterly dividends
Disclaimer:
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