December 1, 2022

Mortgage Fund in Canada Halts Payouts Amid Liquidity

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Mortgage Fund in Canada Halts Payouts Amid Liquidity

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(Bloomberg) — Canadian actual property lender Romspen Funding Corp. has halted redemptions on its largest fund after various debtors stopped making funds. 

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The Toronto-based agency will “quickly defer fee” of redemption requests till it’s clearer when debtors will repay the loans and the fund can get money from asset gross sales, in response to a letter to buyers dated Nov. 8. “Mortgage payoff exercise stays suppressed.” 

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