A Simpler Approach To Investing Investor Presentation
TERMINOLOGY
MIC: Mortgage Investment Corporation (“MIC”) as defined by the Canadian Revenue Agency (CRA).
Loan-to-Value: Loan-to-value (“LTV”) is the primary risk metric in the mortgage industry. It represents the total loans
owing divided by the value of the property (at the time the mortgage was issued). For example, assume
a client has a property worth $750k. The same client has a 1st mortgage of $300k and a 2nd mortgage of
$100k. The LTVs would be as follows:
1st Mortgage LTV: $300,000 = 40.00%
$750,000
2nd Mortgage LTV: ($300,000 + $100,000) = 53.33%
$750,000
Loss Provision: The annual amount of profit held back in order to protect the portfolio from future losses.
Annual Return: Always net to shareholder (i.e. after our financial services fee).
Annualized: To annualize a number means to convert a short-term calculation or rate into an annual rate. Annualized
Rates are estimates. Year to date return of Blue Stripe as of 30 June 2023 was 7.06%, to be 14.11% as
presented in prior pages.
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