Home Capital sells up to $1.5-billion in mortgages; shares surge + MORE May 9th

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.
Latest News
 property

Mortgage Industry Reacts to Liberal Budget + MORE Mar 21st

Hoping for minor tweaks to the mortgage stress test, the Liberal government’s 2019 budget instead left many in the industry underwhelmed and with more questions than answers. The stress test was left untouched, and instead Finance Minister Bill Morneau announced two key changes aimed at easing aff.... More »

Equitable Bank’s mortgage arrears rate triples amid surge in renewals + MORE Mar 13th

Equitable Bank saw its mortgage arrears rate triple over the past 12 months now that a majority of its clients have renewed at higher interest rates..... More »
mortgage

Real estate may not be sexy, but… Jan 26th

Rental properties are a secure long-term investment. Note the emphasis on “long-term”. Check out any seven-year period over the past 50 years (anyone who has read this news site knows that I always recommend buying and holding for at least seven years). Property values have almost alway.... More »
 bank mortgage

Is the COVID-19 emergency over? An economists prosepective. + MORE Sep 14th

I recently participated in a conference call with Scotiabank’s Chief Economist & SVP, Jean-Francois Perrault and John Webster President & CEO Scotia Mortgage Corporation.   It was good to hear real financial experts make sense of what has happened and what will most likely hap.... More »

Canadians Need Guidance With Their Mortgages + MORE Oct 3rd

That’s the takeaway from a national survey released this week by Rates.ca, which found half of Canadians aren’t aware of the mortgage options available to them. Not only that, but Canadians are lacking in some other basic mortgage trivia, with an astounding 9 out of 10 respondents not kn.... More »
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…

Continue Reading On walletpop.ca »

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.

Continue Reading On cbc.ca »

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 […]

Continue Reading On canada.com »

Third-party extends a lifeline and opens the door for an outright sale of the embattled alternative lender

Continue Reading On theglobeandmail.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…

Continue Reading On canadianbusiness.com »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!