Press release from Newsfile Corp
Atrium Mortgage Investment Corporation Achieves $250 Million Mortgage Portfolio
Thursday, May 23, 2013
Atrium Mortgage Investment Corporation Achieves $250 Million Mortgage Portfolio08:33 EDT Thursday, May 23, 2013
Toronto, Ontario--(Newsfile Corp. - May 23, 2013) - Atrium Mortgage Investment Corporation (TSX: AI) is pleased to announce the achievement of a milestone - a mortgage portfolio of $250 million.
Atrium has grown its mortgage portfolio to $250 million, an increase of 25% from December 31, 2012. Approximately 20% of the portfolio is now outside the Greater Toronto Area, primarily in major urban areas as a result of increased origination from its new offices opened in Alberta and British Columbia.
"As a non-bank provider of residential and commercial mortgages, we are pleased to provide our clients with cost-effective alternative financing. Our shareholders continue to benefit from our conservative, focused lending strategies that balance safety with providing stable dividends," said Robert Goodall, President and CEO of Atrium. He also noted, "Our average loan-to-value ratio is 66%, and 85% of our assets are first mortgages."
As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.
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|Atrium Mortgage Investment Corporation||Atrium Mortgage Investment Corporation|
|Robert G. Goodall||Jeffrey D. Sherman|
|President and Chief Executive Officer||Chief Financial Officer|