MCAN Financial Group sees uptick in securitized mortgages

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Despite sustained market volatility, MCAN Financial Group saw its securitized mortgages amount to $1.69 billion as of the end of the third quarter, representing a net increase of $108 million (7%) over Q4 2021.

MCAN attributed this strength to its continued originations and securitization volumes, which defied the rising-rate environment, the continued challenged in the housing market, and the impacts of elevated inflation.

“Our business has various levers and attributes that are positive for managing net mortgage interest income in a rising interest rate environment including the one-year term of our uninsured residential mortgages, the primarily floating rates on our construction portfolio and realigning the duration of our term deposit funding,” said Karen Weaver, president and CEO of MCAN Financial Group.

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