MCAN mortgage assets surge on strong broker originations
“Our business continues to perform well in all our main product lines, despite uncertainty in the broader economic environment, supported by strong mortgage originations and renewals, disciplined pricing and hedging strategies, as well as our strategic partnership with MCAP. We believe we are well-reserved in our allowance for credit losses and our sound underwriting practices ensure our credit quality remains resilient.”
That resilience is built on the broker channel. Speaking in a recent Canadian Mortgage Professional roundtable examining Canada’s evolving alternative lending landscape for mortgage brokers, Avish Buck, senior vice-president and chief operating officer of MCAN Financial Group and president of MCAN Home Mortgage Corp in Toronto, said: “When a broker works with MCAN, it means they trust us with their client, and that’s something we take seriously. Trust is the core of any relationship.”
Construction mortgages rise 9%, but impairments climb
Construction and commercial mortgage balances grew 9% year to date to $1.3 billion, with loan advances of $359 million through September 30.
Project extensions tied to permitting and zoning delays, as well as a more cautious economic environment, have affected parts of the portfolio.
The impaired non-securitized mortgage ratio rose to 2.31% from 1.69% at December 31, 2025, driven by construction loans and uninsured residential mortgages under asset recovery.
