Class a, f, i
U.S. Mortgage Fund Trust
U.S. Mortgage Fund Trust invests in U.S. First Mortgage Income Fund (Cayman).
Stable and consistent, US high yield distributions with low volatility. U.S. Mortgage Fund Trust seeks to generate high interest income with low volatility by sourcing and originating U.S. senior secured, first mortgage bridge loans collaterized by U.S. residentially anchored investment properties.
$10
Stable NAV
100%
Borrower fees are paid to investors
2%
Quarterly distribution target
Fund Type
Open-Ended pooled mortgage fund
FundServ Code - Class A
STE200
FundServ Code - Class F
STE202
FundServ Code - Class I
STE204
Currency
CAD
Eligibility
RRSP, RRIF, DPSP, RDSP, RESP, TFSA, IPP
Distributions
Paid quarterly
Liquidity
T+90
Why U.S. Mortgage Fund Trust?
Non-Levered
Focused on non-levered, first-lien investments for maximum stability.
Short-Term Focus
Prioritizes short-duration loans for improved liquidity and reduced risk.
Hard Asset Backing
Secured against tangible, high-quality hard assets to protect capital.
Borrower Fees Paid to Investors
All borrower fees are passed directly to investors to maximize returns.
Fund Comparison
Evaluate key features across funds to align with your investment strategy.
Metrics
$/Min. Investment
FundServ A/F/I-Class
RSP/TFSA Eligible
Fund Domiciled
FX Hedged to CAD
AUM$ Date
2024
2023
2022
2021
2020
Since Inception
U.S.Bridge Loan Fund Trust (USBLF)
CAD/USD
$5,000
Canada
$33 MM
Sept 30, 2024
7.48%
7.37%
7.28%
6.35%
-
6.82%*
Dec 2020
U.S. Diversified Direct Lending Fund
USD
$50,000
USA
$1.7 BB
Dec 31, 2024
10.49%
10.46%
10.51%
9.59%
8.36%
10.9%*
Jul 2020
U.S. Mortgage Fund Trust (USMFT)
CAD/USD
$5,000
Canada
-
Mar 31, 2025
-
-
-
-
-
-
U.S. First Mortgage Income Fund (Cayman)
CAD/USD
$80,000
Cayman
$28 MM
Dec 31, 2024
12.41%
12.07%
1.35%
Nov&Dec
-
-
12.23%*
Nov 2022
U.S. First Mortgage Income Fund (USA)
CAD/USD
$1 MM
USA
$476 MM
Dec 31, 2024
10.39%
9.82%
8.83%
8.26%
7.22%
9.47%*
Dec 2016
For accredited investors only
*Past performance is not necessarily indicative of future returns
*As at Dec 31, 2024
U.S. Mortgage Fund Trust. USMFT
Operations Summary
Canadian Accredited Investors
Portfolio Managers, Pension Plans, CIRO Dealers
Canadian Custodian
U.S. Custodian
U.S. First Mortgage Income Fund
Available Downloads
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U.S. Diversified Direct Lending Fund
Business of U.S. Mortgage Fund Trust
The Trust is an open-ended investment trust created under the laws of the Province of Ontario pursuant to the Declaration of Trust.
The Business of USMFT
USMFT provides an opportunity for investors in Canada to earn high interest income with low volatility by participating in funding a portfolio consisting of senior secured first lien bridge loans collateralized by residentially anchored investment properties located in the United States. Loans are originated and underwritten by the “U.S. based mortgage fund” manager and are senior secured, first-lien, non-levered and backed by real assets.
The investment strategy of US MFT is to preserve the invested capital and to deliver current income on a quarterly basis for US MFT investors. In this regard, the Trust has retained the Manager to execute its investment strategy. Michael Steepe, the principal of the Manager, is an experienced investment professional with pooled loan funds and US based credit funds.
The U.S. Securities And Exchange Commission, (SEC), prevents the U.S. based Manager of the “U.S. based mortgage fund”, from publicly displaying the name or identity of the fund.
Contact us for more information.
President & CCO
Michael Steepe
Request a personal consultation with Michael Steepe,
a trusted leader in private credit.
Or contact Steepe & Co. directly here.
