Notice To Lenders:

FAAN Mortgage Administrators Inc. (“FAAN Mortgage”) has been engaged by Building & Development Mortgages Canada Inc. (“BDMC”), in consultation with the Financial Services Commission of Ontario (“FSCO”), to assume responsibility for the management of all BDMC’s mortgage administration duties in respect of the syndicated loans listed below, for which BDMC acts as Administrator under Ontario’s Mortgage Brokerages, Lenders, and Administrators Act, 2006 (“MBLAA”).

FAAN Mortgage’s engagement is part of a settlement between BDMC and FSCO relating to the regulation of syndicated mortgage loans for real estate development projects involving Fortress Real Developments Inc. (Fortress Real Developments Inc. is not a mortgage broker or administrator and is not party to the settlement.)

FAAN Mortgage will be managing BDMC’s administration duties in respect of all the syndicated mortgage loans listed below. The administration duties to be managed by FAAN Mortgage include (i) remitting and collecting funds to and from borrowers; (ii) remitting payments to lenders; (iii) reviewing and communicating with lenders regarding any borrower requests for an extension to the dates established in the syndicated mortgage loan, including completion dates and payment dates; (iv) reviewing and communicating with lenders regarding any borrower requests for a subordination of a syndicated mortgage loan to construction financing; and, (v) if necessary, taking enforcement action where a syndicated mortgage loan is in default.  Notwithstanding this, lenders will continue to deal with BDMC’s employees on a day to day basis, with FAAN Mortgage’s oversight.

BDMC’s website related to mortgage administration functions will continue to operate under the oversight of FAAN Mortgage.  You may continue to access BDMC’s website at www.bdmc.ca regarding the administration of your loan.  For additional information regarding FAAN Mortgage please visit its website via www.faanmortgageadmin.com.

The BDMC website will be updated periodically and we recommend that you check the website frequently.  In due course, the website will also have a link that will permit you to log in and access specific updates and review documents pertaining to the syndicated mortgage loan that is the subject of your loan and the related development project.

FAAN Mortgage can be contacted directly at info@faanmortgageadmin.com or 1-833-495-3338.

04.18.2018 BDMC UPDATE

Advertisements

MORTGAGES

FAAN Mortgage will be managing BDMC’s administration duties in respect of all the syndicated mortgage loans listed below:

PROJECT NAME BORROWER NAME ADDRESS INSTRUMENT #
6th and Tenth Bel Calgary Inc. 633-10th Ave SW, Calgary, AB 121018624
Bauhaus Lamb Bauhaus Inc. 284 King Street E, Toronto, ON AT4485812
Bowmanville Brookhill Holdings Inc. 299 Nash Road & 2538, 2494 Regional Road 57; Clarington, ON DR1567425
Bradford Bond Head Sunrise Acqusitions (Bond Head) Inc. 2875 Highway 27, Township of West Gwillimbury, ON SC1317936
Braestone Braestone Development Corporation 3009 Line 8 North, Moonstone, ON SC1039835
Brookdale Fortress Brookdale Inc. 375 & 377 Fairlawn Ave, 1678-1704 Avenue Rd, 412 Brookdale Ave, Toronto, ON AT3955352
Brookdale Fortress Brookdale Inc. 375 & 377 Fairlawn Ave, 1678-1704 Avenue Rd, 412 Brookdale Ave, Toronto, ON AT4707175
Capital Pointe Westgate Properties Ltd. 1971 Albert St, Regina, SK 167756406
Capital Pointe Westgate Properties Ltd. 1971 Albert St, Regina, SK 176395753
Capital Pointe Westgate Properties Ltd. 1971 Albert St, Regina, SK 179467431
Castlemore Emerald Castle Developments Inc. 10431 Gore Road, Brampton, ON PR2635749
Charlotte Adelaide Tower Fortress Charlotte 2014 Inc. 477 Richmond St W, Toronto, ON AT3859052
Charlotte Adelaide Tower Fortress Charlotte 2014 Inc. 353 Adelaide Street W, Toronto, ON AT3909299
Collier Center Fortress Collier Centre Ltd. 55 Mulcaster St, Barrie, ON SC1272624
Collier Center Fortress Collier Centre Ltd. 55 Mulcaster St, Barrie, ON SC1268591
Crestview Commons Carlyle Communities (Crestview) Inc. 1640 Crestview Ave, Mississauga, ON PR2477314
Eden 2309918 Ontario Inc. 230, 230A, 240, 250 Dew St, King City, ON YR1797496
Estates of Nobleton Nobleton North Holding Inc. 13735 Hwy 27, Nobleton, ON YR2144079
Glens of Halton Hills 2301132 Ontario Inc. & 2309840 Ontario Inc. 13758 & 13764 Hwy 7, 22 & 24 Dayfoot Dr, 8 Lindsay Ct, Georgetown, ON HR1077542
Glens of Halton Hills 2301132 Ontario Inc. & 2309840 Ontario Inc. 13758 & 13764 Hwy 7, 22 & 24 Dayfoot Dr, 8 Lindsay Ct, Georgetown, ON HR1330352
Glens of Halton Hills 2301132 Ontario Inc. & 2309840 Ontario Inc. 13758 & 13764 Hwy 7, 22 & 24 Dayfoot Dr, 8 Lindsay Ct, Georgetown, ON HR1513969
Highlands of York Region South West Queensville Holdings Inc. 19935, 19851, 19879 2nd Concession Queensville, ON YR2548949
Humberstone Worthington Homes (Humberstone) Inc. 3 Halton Hills Dr, Halton Hills, ON HR1359683
Jasper House Bel-Edmonton Inc. 10160/68 106th St NW, Edmonton, AB 142211533
King Square King Square Ltd. 9390 Woodbine Ave, Markham, ON YR2161437
Kingridge Square Kingridge Development Corporation 235 Speers Rd, Oakville, ON HR1151113
Lake & East Symgine (LakeEast) Inc. 2266 Lakeshore Rd W & 83 East St, Oakville, ON HR1269101
Mississauga Meadows 1 Fortress Lakeshore 2017 Inc 1041 Lakeshore Ave E, Mississauga, ON PR2438008
Mississauga Meadows 2 Dunsire (1407 Lakeshore) Inc. 1407 Lakeshore  Lakeshore Ave E, Mississauga, ON PR2437991
Nobleton South Nobleton South Holdings Inc. 92 Diana Dr, Nobleton, ON YR2294060
North Lamb Edmonton Corp. 10305/21 106th St NW, Edmonton, AB 143223598
Old Market Lane Old Market Lane Inc. 177, 185, 197 Woodbridge Ave, Woodbridge, ON YR2083558
Old Market Lane Old Market Lane Inc. 177, 185, 197 Woodbridge Ave, Woodbridge, ON YR2578049
Old Market Lane Old Market Lane Inc. 177, 185, 197 Woodbridge Ave, Woodbridge, ON TBA
Old Market Lane Old Market Lane Inc. 177, 185, 197 Woodbridge Ave, Woodbridge, ON YR1763318
Peter Richmond Land Assembly Fortress Carlyle Peter St. Inc. 477 Richmond St W, Toronto, ON AT3677465
Peter Richmond Land Assembly Fortress Carlyle Peter St. Inc. 122, 124, 126, 128 Peter St, Toronto, ON AT3810897
Pivot Averton (Rutherford) Inc. 1304 Rutherford Rd SW, Edmonton, AB 142239631
Prescott Averton Homes (Prescott) Inc. 32 Residential lots in Spruce Grove, AB 142295420
QEWN – Oakville East Kingridge (Oakville East) Inc. 1670 North Service Rd, Oakville, ON HR1321102
SkyCity Winnipeg 6566074 Manitoba Ltd. 245 Graham Ave, Winnipeg, MB 4401262/1
SkyCity Winnipeg 6566074 Manitoba Ltd. 245 Graham Ave, Winnipeg, MB 4652833/1
SkyCity Winnipeg 6566074 Manitoba Ltd. 245 Graham Ave, Winnipeg, MB 4757821/1
SkyCity Winnipeg 6566074 Manitoba Ltd. 245 Graham Ave, Winnipeg, MB 4652832/1
Solterra 2382917 Ontario Inc. 1023 Victoria Rd, Guelph, ON WC439338
The Greenwood 1177 Danforth Avenue Ltd. 1177 Danforth Ave, Toronto, ON AT3758743
The Harlowe The Harlowe Inc. 604-618 Richmond St W, Toronto, ON AT3428381
The James L Richmond Corp. 452-458 Richmond St W, Toronto, ON AT4379343
The Kemp Fortress Kempenfeltbay Developments Inc. 51, 53, 55, & 75 Bradford St, Barrie, ON (Actual Site: 18 Lakeshore Dr) SC983678
The Orchard Lamb Calgary Inc. 602, 606, 610, 620, 624, 626, 628 12th Ave SE, Calgary, AB 141112373
The Orchard Lamb Calgary Inc. 602, 606, 610, 620, 624, 626, 628 12th Ave SE, Calgary, AB 161293854
The South Shore 2221563 Ontario Inc. 230-240 Cameron Cres, Keswick, ON YR2242948
The South Shore 2221563 Ontario Inc. 230-240 Cameron Cres, Keswick, ON YR1607456
The South Shore 2221563 Ontario Inc. 230-240 Cameron Cres, Keswick, ON YR2510956
The Wade Amadon-Westwater Projects Ltd. 1105 Pandora Ave, 1110 Johnson St, 1120 Johnson St, Victoria, BC 1452703872
The Wade Amadon-Westwater Projects Ltd. 1105 Pandora Ave, 1110 Johnson St, 1120 Johnson St, Victoria, BC CA5534026
Treehouse Halo Townhomes Inc. 2535 Gerrard St E, Scarborough, ON AT3599741
Triple Creek Fortress Triple Creek Inc. South of Hwy 8, Range Rd 40, Rocky View County, AB 131006083
Union Waterfront Union Waterfront Inc. 1 Hogans Alley, 11 Main St, 12 Lakeport Rd, 16 Lock St, 20 Lock St, 22A Lock St, St. Catharines, ON NR432900
Union Waterfront Union Waterfront Inc. 16, 20, 22A, 22 Lock St, 12 Lakeport Rd, 1 Hogan’s Alley & 11 Main St, St. Catherines, ON NR295330
Union Waterfront 2283020 Ontario Inc. 12, 14, 18, 28, 38 Lakeport St, St. Catharines, ON NR346800
Wellington House Wellington House Inc. 422-424 Wellington St W, Toronto, ON AT4333932
Whitby Commercial Park Thickson Road 407, Whitby Limited 5360, 5400, 5675 Thickson Rd N, Whitby, ON DR1277483
White Cedar Estates Dunsire (Landsown) Inc. 24, 26, 28 & 32 Lansdown Dr, Guelph, ON WC394834

Contact Us

ADDRESS
Building & Development Mortgages Canada Inc
c/o FAAN Mortgage Administrators Inc.
20 Adelaide St. E, Suite 920
Toronto, ON M5C 1H6

LOCAL
905 508 4828

Contact BDMC for general enquiries and mortgage related questions:

For questions regarding the management of BDMC by FAAN Mortgage Administrators Inc. send a message to info@faanmortgageadmin.com or call 1-833-495-3338.