16. WHAT TYPE OF MORTGAGES DOES THE GMIC INVEST IN?

The Genesis MIC focuses on residential and commercial mortgage loans primarily in British Columbia,Alberta and Ontario. The pool of mortgage receivables are comprised of 1st and 2nd mortgages. All mortgages in the Genesis MIC have a one year term and are renewable at the lender’s discretion. The Genesis MIC usually earns 3 months interest penalties on mortgages paid out before the end of the term.