Find out more about one of the event sessions – and make sure to register now, free of charge
Private and MIC lending have a prominent place on the agenda at the Canadian Mortgage Summit Vancouver, with a dedicated panel set to unpack how brokers could use those tools more confidently in a tougher regulatory climate.
The one-day expo, returning to the Vancouver Convention Centre on March 19, 2026, is a free, strategy-focused gathering for brokers and lenders across Western Canada.
In recent years, private and MIC products shifted from a niche corner of the market to a mainstream option as tighter underwriting, higher rates and new capital rules pushed more borrowers outside traditional channels.
Why private and MIC lending stay in focus
Panelist Norman Homes, vice president and managing director at Drake Financial Ltd., will appear on that dedicated private/MIC panel. He said he wanted attendees to leave with “an understanding of the benefits of the private mortgage market for the industry. For consumers: when a private mortgage is a good choice for a client.”
Holmes said he plans to highlight that documentation still matters in an ostensibly low-doc space. “Common mistakes are no supporting documents," he told Canadian Mortgage Professional when asked about frequent missteps made by brokers in the application process.
"While it’s true that MICs and private lenders are low-doc lenders, supporting documents, income, downpayment, etc. help build a case for an approval – especially on larger loans. No-one is lending $2 million without full disclosure of all documents and income confirmation or an exit strategy.”
What brokers need to ask
Homes said brokers have to be more deliberate in how they vetted private counterparts.
“Is the private lender either registered with regulators or represented by a registered brokerage? Are they members of industry organizations? How long have they been lending? What are their documents like – any acceleration clauses, high penalties or late fees? What are the renewal fees and terms like?”
Regulators and compliance experts have urged brokers to understand ownership structures, conflicts of interest and documentation standards when working with MICs and private funds.
From case studies to long-term clients
Homes said borrower profiles in the private and MIC space evolved alongside OSFI’s tighter expectations and growing scrutiny of income verification, with “more mainstream clients due to bank- and OSFI-tightened policies for rental properties and income documents.”
He also urged brokers to treat those deals as the start of a broader relationship, not a one-off solution.
“Good clients are hard to find. Take care of them, not just when they need a mortgage. Send them monthly newsletters, call them, ask about their investments. Many MICs, including ours, would love for them to open RRSP, TFSA, or investment accounts with us and you can get a referral fee to add to your revenue.”
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