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mortgage company of canada

Mortgage Company of Canada Inc. (MCOCI) is a mortgage investment corporation (MIC) focusing primarily on first mortgages secured by single-family homes in the Greater Toronto Area (GTA). MCOCI provides investors who are interested in an alternative investment class with an opportunity to participate in a diversified portfolio of professionally managed, high-yielding mortgages. All mortgages in MCOCI's portfolio must adhere to a credit policy which is reviewed and approved annually by our majority independent Board of Directors.


features & investment terms

minimum investment

DRIP available


fundSERV code






registered plans


board of directors

& strategic advisor

Raj Babber

Director, Founder, 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 founder and Chief Executive Officer of MCOCI and its administrator Capital Asset Lending. He is also the Chief Executive Officer of the general partner of First Mortgage LP (FMLP). Mr. Babber was formerly on the board of directors of Humber River Hospital Foundation.

Daniel Drimmer

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.

James Garcelon

Independent Director

James Garcelon has over 25 years of experience in the financial services sector. He is currently President and Chief Compliance Officer at Forstrong Global Asset Management Inc., a firm specializing in globally diversified investment strategies for financial institutions and individual investors. Mr. Garcelon is a former co-founder and Principal of Grove Capital Group, a private merchant bank, where he was responsible for evaluating potential investment and business development opportunities. He was previously a Member of the Board of Directors and Audit Committee Chair at Midlands Minerals Corporation and Southern Andes Energy Inc. Mr. Garcelon is a CFA® Charterholder and holds an MSc in International Political Economy from The London School of Economics & Political Science. Mr. Garcelon also holds an Honours Bachelor of Arts degree in Business Administration from the Richard Ivey School of Business, University of Western Ontario.

Greg Goutis

Director and Chief Financial Officer
Greg Goutis has over 25 years of experience in the construction and real estate industries. Mr. Goutis is the Chief Financial Officer of MCOCI and its administrator Capital Asset Lending. He is also the Chief Financial Officer of First Mortgage LP (FMLP). Prior to joining Capital Asset Lending, Mr. Goutis served as Vice President of Operations and Chief Financial Officer at Royalton Retirement Residences, a luxury seniors housing company. Mr. Goutis is a Chartered Professional Accountant and a Certified Management Accountant. He is a graduate of the University of Western Ontario, where he obtained a Bachelor of Arts degree in administrative and commercial studies.

Brian Johnston

Independent Director

Brian Johnston has more than 35 years of residential real estate experience.  Mr. Johnston is the former Chief Executive Officer of CreateTO, which manages the City of Toronto’s real estate portfolio. From 2012 to 2018, he served as Chief Operating Officer of Mattamy Homes, Canada’s largest homebuilder. Prior to joining Mattamy, he was President of Monarch Corporation. He is currently a Director of the C.D. Howe Institute, the Bruce Trail Conservancy, Sienna Senior Living Inc., and is a member of the Board of Regents at Victoria University in the University of Toronto. Mr. Johnston has held professional board roles across a variety of organizations including the Canada Mortgage and Housing Corporation (CMHC), Tarion Warranty Corporation, and the Ontario Home Builders’ Association.


Tammy Oldenburg

Independent Director

Tammy Oldenburg is a senior financial business leader with over 25 years of experience in finance and real estate. Ms. Oldenburg is currently Chief Financial Officer at Credit Suisse Canada. From 2006 to 2013, Ms. Oldenburg served as Vice President and Chief Financial Officer of MCAN Mortgage Corporation. Prior to joining MCAN, Ms. Oldenburg worked in financial roles at Bank of Montreal and Ernst & Young. Ms. Oldenburg is a Chartered Professional Accountant, a Certified Public Accountant (Illinois), and a CFA® Charterholder. Ms. Oldenburg holds an Honours Bachelor of Business Administration degree from Wilfrid Laurier University.

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