The Founding of Foremost
Established in 1987, Foremost has become a trusted choice for first mortgage lending, providing loans up to $12 million for construction projects in the GTA and surrounding areas. It all began with Ivan Stone and the late Jack Ganz, who sought to fill a gap in the mortgage lending market as institutional lenders shied away from smaller, less conventional construction loans. Since then, Foremost has remained focused on infill residential, industrial and commercial lending, as well as providing term loans for commercial or industrial income producing proprieties. These mortgages are
financed via syndication or by pooling them into a diversified fund that is offered to accredited investors through the Foremost Mortgage Trust.
Foremost Mortgage Trust was established in 2006 as an open-ended investment fund to give accredited investors access to a pool of high quality first mortgages. Foremost is regulated by the Ontario Securities Commission (OSC) as an Exempt Market Dealer. It is also licensed with the Financial Services Commission of Ontario (FSCO) as a mortgage broker and administrator.
What we do
After thorough due diligence into a borrowers track record and the merits of a proposed project, Foremost provides quick turnaround time on funding loans. It’s our experience that gives us the ability to put ourselves in the shoes of borrowers, quickly responding to challenges as they arise.
We take a conservative approach to lending, investing in first mortgages with an initial loan-to-value (LTV) of no more than 75%. This results in an investment that garners healthy returns while mitigating downside. Our broadly diversified portfolio of first mortgages (primarily GTA) must surpass our stringent due diligence process. Our weighted average LTV is typically less than 65%, and the portfolio’s weighted term-to-maturity is generally less than one year. Investors enjoy dependable cash flow with income paid monthly.
The Foundations of Foremost
We always ask what our stakeholders expect and then strive to exceed those expectations.
We conduct ourselves with integrity and we treat others as we would wish to be treated.
We are continuously improving ourselves, our processes and interactions with our stakeholders.
We are committed to the highest levels of professionalism, quality and excellence. We do what we say we will do, when we say we will do it.
SIMPLICITY & CONSERVATISM
We keep things simple. Our communications are transparent and in plain language.
We plan for success and play to win with discipline and laser like focus.