first mortgage LP
First Mortgage LP (FMLP) is a limited partnership that invests in first mortgages to prime and super prime borrowers secured by single-family residential real estate primarily in the Greater Toronto Area (GTA). FMLP's objective is to build a diversified and conservative portfolio that provides investors with consistent monthly distributions. All mortgages in FMLP's portfolio must adhere to a credit policy which is reviewed and approved annually by the majority independent Board of Directors at the General Partner (First Mortgage GP).
features & investment terms
MCA200 (Class A)
MCA201 (Class F)
board of directors
& strategic advisor
Our board of directors at First Mortgage GP Inc. (the “General Partner”) is composed of experienced business and financial professionals. Our independent board members also serve on FMLP’s advisory committee alongside our strategic advisor.
Director and Chief Executive Officer
Raj Babber has over 20 years of experience in accounting, finance, and lending in the small and medium business sector, as well as experience and expertise in the residential housing market. Mr. Babber is the Chief Executive Officer and a director of the General Partner. He is also the Chief Executive Officer and founder of Mortgage Company of Canada Inc. (MCOCI) and Capital Asset Lending. Mr. Babber was formerly on the board of directors of Humber River Hospital Foundation.
Strategic Advisor to the Board
Daniel Drimmer is a third-generation real estate investor with over 25 years of experience in the multi-family residential and commercial real estate sectors. Mr. Drimmer is currently the Founder, President, and Chief Executive Officer of Starlight Investments, a Canadian real estate manager with over $25 billion in multi-family and commercial assets in both the U.S. and Canada. Mr. Drimmer is also the Chief Executive Officer and Chairman of the Board of TSX-listed True North Commercial REIT. His other roles include director and Chief Executive Officer of the general partner of TSX-V listed Starlight U.S. Multi-Family (No. 2) Core Plus Fund; trustee and Chief Executive Officer of Starlight U.S. Residential Fund; Chief Executive Officer of Starlight Western Canada Multi-Family (No. 2) Fund and trustee of TSX-listed Northview Fund. Over the last ten years, Mr. Drimmer has directed over $50 billion in residential and commercial real estate transactions, including nine initial public offerings. Mr. Drimmer holds a Bachelor of Arts from the University of Western Ontario, and both a Master of Business Administration and a Masters degree in Contemporary European Policy Making from European University in Geneva, Switzerland.
Chris Taves is an experienced business executive with over 30 years of professional experience in capital markets and financial industries. Since 2009, Mr. Taves has worked in various positions at BMO Capital Markets, including Head of Global Markets from 2017 to 2018 and Chief Operating Officer from 2018 to 2020. He is currently Special Advisor to the CEO and Executive Committee and serves on several internal committees and boards within BMO and BMOCM. Prior to joining BMO, he spent 11 years at Citigroup working in various senior positions. Mr. Taves is currently Chair of the MediPharm Labs Corp. board and advisor to Armagh. Mr. Taves is a Chartered Professional Accountant, Chartered Accountant and holds a Master of Business Administration from Ivey Business at Western University. He also holds a Bachelor of Mathematics from the University of Waterloo.
Director and President
Faheem Tejani is a seasoned financial executive with over 25 years of experience in capital markets and financial services. Mr. Tejani is the President and a director of the General Partner. He is also the President of Mortgage Company of Canada Inc. (MCOCI) and Capital Asset Lending. Mr. Tejani formerly held the position of Managing Director, Equity Capital Markets for BMO Capital Markets. Before joining BMO Capital Markets, Mr. Tejani worked for one of the world’s largest accounting firms. Mr. Tejani was formerly on the board of directors of Pretium Resources Inc. (Pretivm), a TSX and NYSE listed company. He is a Chartered Professional Accountant and holds a Bachelor of Arts (Honours) from the University of Western Ontario.
Neha Verma is an experienced business executive with over 15 years of professional experience in investor relations and capital formations. Ms. Verma is currently the Canadian Head of Client and Capital Formation at TPG Capital. Prior to joining TPG Capital in 2020, Ms. Verma worked for 6 years at Onex Corporation as Principal, Investor Relations and Fund Development. Prior to joining Onex, Ms. Verma worked at Ellington Management Group for 8 years in various roles, most recently as Vice President, New Business Development and Investor Relations. Ms. Verma is the co-founder of K.I.D.S. IQ Project, a foundation launched in 2016 to raise funds towards curing cognitive disorders in children. Ms. Verma holds a Bachelor of Science in Business Administration from the University of Connecticut.
Tim Wilson is an experienced business executive with over 20 years of professional experience in the mortgage and financial industries. Mr. Wilson is currently the Chief Financial Officer at RF Capital. Mr. Wilson previously served as Chief Financial Officer at Equitable Bank from 2012 to 2020. Prior to joining Equitable, Mr. Wilson worked at Visa for 5 years, most recently as President of Visa Canada from 2008 to 2011. Mr. Wilson has also worked in various roles at CIBC, Monitor Group, and Ernst & Young. Mr. Wilson formerly served as the Vice-Chair of the Board of Trustees and Chair of Finance Committee for the Royal Ontario Museum. Mr. Wilson is a Chartered Professional Accountant, Chartered Accountant and holds a Master of Business Administration from Harvard Business School and Bachelor of Commerce from Queen’s University.