A Mortgage Investment Corporation (MIC) provides a way to invest in the real estate market, mitigating the time and risk of investing in individual mortgages. This dividend is taxed as interest income, in that it primarily represents a flow-through of the interest earned on the Company's mortgage portfolio.
Is a mic a private lender?
MICs account for the bulk of private mortgage issuance in the country and are regulated by OFSI, the federal regulator of financial institutions.
What is MIC private equity?
The IRR is the annualized rate of return of the fund, while the MIC is the ratio of the cash paid to investors and the estimated value of the remaining investments to the amount of capital invested in the fund.