What is a Mortgage Investment Corporation (MIC) in Canada?
A mortgage investment corporation (MIC) in Canada as it is often referred to by, is a company given special designation by Revenue Canada, highlighted in Section 130.1 of the Income Tax Act. It is a corporation set up to enable investors to invest in a pool of mortgages, mostly residential properties. Canadian professional real estate investors intend to use them more frequently as well as general public through informed Canadian mortgage brokers.