Cameron Stephens Mortgage Capital Has Launched An Accelerated Lending Program To Provide An Under 15-day Commitment Process For Single Advance Inventory, Term, Bridge And Land Loans Of Up To $15 Million

Cameron Stephens Mortgage Capital Has Launched An Accelerated Lending Program To Provide An Under 15-day Commitment Process For Single Advance Inventory, Term, Bridge And Land Loans Of Up To $15 Million

The program “came out of the notion that things are taking forever and it’s difficult to get any certainty from many lenders right now,” says Steve Cameron, president and COO of Cameron Stephens. “We thought if we put this program together, hopefully it would provide a service that other lenders weren’t providing right now,” namely a path to a quick closing.

To provide the funds, 21-year-old Cameron Stephens is tapping into up to $500 million in discretionary capital from its mortgage funds, including the Cameron Stephens Mortgage Trust, Bay Street High Yield Fund, and Western Canada High Yield Fund.

Using its internal funds helps eliminate layers of approval and red tape and significantly reduces time to close, the company says.

“We thought that having a program that would allow us to deploy our private capital and give our borrowers that quick turnaround time was something that would be appreciated,” says Katie Bonar, senior vice-president, investment management at Cameron Stephens.

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