EquityLine Group announces a 176% growth in year-over-year assets under administration (AUA).
Richmond Hill, Ontario, January 4, 2022 – EquityLine Group is pleased to announce a significant growth of AUA of registered mortgages under contract with EquityLine Mortgage Investment Corporation (JSE:ELMIC), EquityLine Service Corp. and EquityLine SPV Limited Partnership. Assets as of December 31, 2021 were $33.3 million compared with $12.1 million on December 31, 2020, a 176% year-over-year growth.
EquityLine founder and CEO, Sergiy Shchavyelyev commented, “During 2021, EquityLine expanded its brokerage network, increased shareholder contributions and partnered with a Canadian Tier 1 Bank to launch a SPV Limited Partnership. These initiatives helped fuel the AUA growth in 2021. EquityLine is well positioned to continue to grow AUA throughout 2022 while maintaining its conservative underwriting principles.”
EquityLine Mortgage Investment Corporation is a Canadian mortgage investment corporation (MIC) incorporated under the laws of the Province of Ontario and located in Richmond Hill, Ontario. EquityLine MIC was founded in 2018 and is listed on the Jamaica Stock Exchange (www.jamstockex.com) under the symbol ELMIC.
For more information please contact:
EquityLine Mortgage Corporation
Sergiy Shchavyelyev, CEO