RESCO Business Continuity Plan

As Canada deals with the evolving COVID-19 (“coronavirus”) global health emergency, I want to take this moment to assure you that RESCO has taken the necessary steps to proactively meet this challenge head on. We are ready and prepared to deploy our comprehensive Business Continuity Plan which will protect the investment of our clients, minimize the disruption to our operations, and ensure the safety of our employees.


If any borrower is in any financial distress caused by layoff or loss of income, or is worried how to keep up with payments, our team is here to help. We have solutions to help our borrowers achieve financial stability during these challenging times. RESCO will review all inquiries on a case-by-case and offer one of the following options based on each borrower’s eligibility:

  • Our primary operational objective remains unchanged, which is to generate sustainable and stable returns while preserving your investment capital.
  • We continue to manage and to keep the average loan-to-value of our mortgage portfolio near 70% as a buffer for any potential real estate market corrections
  • The demand for private first and second mortgages continues to be strong. There has been no noticeable decrease in mortgage applications since the start of COVID-19.
  • We have yet to see widespread amounts of unemployment or business failure which would lead to loan defaults. We will continue to monitor payment delinquencies very carefully.
  • Keep in mind that the interest rate of our mortgages is NOT tied to The Bank of Canada rates. Despite the decrease of the bank rates (twice) recently, the interest rate of our mortgage portfolio is not negatively impacted.
  • The lowering of The Bank of Canada’s overnight rates should increase affordability and motivate more home buyers to enter the market and drive up real estate market activity.


We have implemented the following steps, protocols & policies to protect our employees and any clients visiting our office:

  • Suspend all meetings, training sessions, investment seminars and events.
  • Enhance cleaning and disinfecting measures across all office areas.
  • Provide sanitation wipes and install additional sanitizer stations.
  • Encourage our team members to stay home if they or their family members are unwell.
  • Institute a rotation system for our team members to work from home in order to minimize contact with each other and with the public.
  • Limit all non-essential business travel until further notice.
  • Impose a quarantine period for anyone who has recently travelled outside of Canada.


Key elements of our Business Continuity Plan to minimize disruption to our business:

  • All of our team members can work remotely and effectively from home due to RESCO’s investments in technology over the years.
  • A dedicated conference call phone line has been setup so we can communicate regularly and effectively with our employees as new information emerges daily.
  • All mortgage applications are being submitted to us electronically. In-person contact or interaction with potential borrowers is not required.
  • We have the capability to fund mortgages by wiring funds to our lawyers without the need to visit local bank branches.
  • All of our borrowers’ monthly mortgage payments are and will continue to be processed by pre-authorized payment (PAP).
  • All of our investors’ monthly dividends payments are and will continue to be processed by Electronic Fund Transfer (EFT).
  • We have two offices, one in BC and one in Ontario. In case one office is negatively affected, the other location remains operational.


We encourage our clients and advisors to contact us if they have any questions or concerns:

  • The contact particulars of our credit center, customer service, renewal, legal and accounting departments remain the same even when we are working remotely. We are happy to assist you and to answer any questions.
  • As this very fluid situation evolves, we will provide you regular updates on the steps we are taking to maintain business continuity.
  • Corporate social responsibility is an integral part of RESCO’s corporate culture. No matter the situation or challenge, we will always do the right thing and preserve the interests of our stakeholders.
  • You have our full commitment to continue to do our very best every day, and to provide you with the peace of mind that you have come to expect from RESCO.