Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Big Bank Mortgage Rates Rising: What it Means for You May 3rd
Four of Canada’s Big Six banks have now raised their posted mortgage rates since last week, sparking concern by homebuyers and existing homeowners about the implications. TD kicked off this round of rate increases last week by raising its various mortgage terms, including an astounding 45-bps .... More »
Before you buy, here’s how to compare home insurance + MORE Aug 6th
Home insurance is important, but no one loves paying for it. That’s why people like to open their browsers and search for “cheap home insurance” and “how to save on home insurance.”
Any insurance professional will tell you that there’s no easy answer for cheap and full coverage,.... More »
Bank of Canada raises benchmark interest rate to 1.5%, noting trade tensions - CBC.ca + MORE Jul 11th
CBC.caBank of Canada raises benchmark interest rate to 1.5%, noting trade tensionsCBC.caFor the fourth time in a little over a year, the Bank of Canada has raised its benchmark interest rate, a move that will increase the cost of borrowing for Canadians with variable-rate mortgages and lines of cred.... More »
House rich: How to access the equity in your home Nov 16th
With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to ba.... More »
Mortgage Changes Impacting Mobile Homes + MORE Jun 14th
One of the seemingly unintended groups to fall victim to the government’s latest mortgage changes is owners of mobile homes, according to some concerned mortgage brokers who are seeing the effects on their clients. The issue stems from the new rule that prohibits insured properties from being refi.... More »
Home Capital Bank Run Continues As New Leadership Announced
– walletpop.ca
TORONTO — Home Capital Corp. says one of its independent directors with extensive regulatory experience will now chair its board of directors as the mortgage company suffers from a further outflow of money from its high-interest savings accounts and GICs.
The Toronto-based mortgage company says its new chair is Brenda Eprile, who joined the Home Capital board last year. She replaces Kevin Smith, who will remain on Home Capital’s board of directors.
Eprile was a senior member of the Ontario Securities Commission staff prior to beginning a 17-year career as a consultant focused on regulatory affairs.
Signage outside the Home Capital Group Inc. headquarters office in Toronto, Ontario, Thursday, May 4, 2017. (Photo: Cole Burston/Bloomberg via Getty Images)
The company is also adding two former CEOs of major Ontario pension funds — Claude Lamoureux from the Ontario Teachers’ Pension Plan and Paul Hagis of OMERS — as well as Sharon Sallows, a trustee for two major real estate trusts…
A subsidiary of alternative mortgage lender Home Capital has struck a deal to sell $1.5 billion worth of mortgage commitments and renewals to an unnamed buyer.
TORONTO — Ontario Premier Kathleen Wynne says she expects any provincial appointee or employee involved with troubled alternative mortgage lender Home Capital to step down if they have a conflict of interest. Home Capital is a Toronto lender under investigation by the Ontario Securities Commission, which alleges that the company, two former chief executives and […]
Home Capital sells up to $1.5-billion in mortgages; shares surge
– theglobeandmail.com
Third-party extends a lifeline and opens the door for an outright sale of the embattled alternative lender
Wynne weighs in on concerns over conflicts with lender Home Capital
– canadianbusiness.com
Ontario Premier Kathleen Wynne says she expects any provincial appointee or employee involved with troubled alternative mortgage lender Home Capital to step down if they have a conflict of interest.
Home Capital is a Toronto-based lender under investigation by the Ontario Securities Commission, which alleges that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications.
Wynne was asked about Kevin Smith, who is the CEO of St. Joseph’s Health System in the Hamilton and the Niagara areas. Smith was also on the board of the Healthcare of Ontario Pension Plan (HOOPP) and chairman of the board of Home Capital, until recently.
On April 27, Home Capital announced HOOPP had agreed to provide the company a $2-billion loan and, at that time, Smith advised HOOPP he was stepping down from its board due to that potential conflict. He has since resigned as chair of Home Capital, but remains on the company’s board.
The Progressive Conservatives have questioned whether relationships between the boards of Home Capital, HOOPP, and the provincial government and its agencies are inappropriate…
Home Capital is a Toronto-based lender under investigation by the Ontario Securities Commission, which alleges that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications.
Wynne was asked about Kevin Smith, who is the CEO of St. Joseph’s Health System in the Hamilton and the Niagara areas. Smith was also on the board of the Healthcare of Ontario Pension Plan (HOOPP) and chairman of the board of Home Capital, until recently.
On April 27, Home Capital announced HOOPP had agreed to provide the company a $2-billion loan and, at that time, Smith advised HOOPP he was stepping down from its board due to that potential conflict. He has since resigned as chair of Home Capital, but remains on the company’s board.
The Progressive Conservatives have questioned whether relationships between the boards of Home Capital, HOOPP, and the provincial government and its agencies are inappropriate…
