Courtesy of: Visual Capitalist The downfall of Home Capital Here is a great chart detailing the downfall of Home Capital. As the chart indicates, ultimately the question is whether this is a “one shot” affair or the start of something more serious. The next mortgage lender of concern is the Equitable Group. Equitable is in many […]
Here is the document from the Ontario Securities Commission outlining the allegations against Home Capital.
15% of Canada’s economy vulnerable to a housing slump, RBC says Once again, you have Canadians putting a positive spin on something negative happening. This country is amazingly bulletproof when it comes to bad news. You have an economy that is in the toilet, no manufacturing sector and built on careers for hamburger flippers, but […]
Equitable Group adds RBC to syndicate of Canada’s other big banks backing its $2 billion emergency credit line The Equitable Group offers mortgage financing that in many respects is similar to that offered by Home Capital. Borrowers who cannot get financing at Canada’s major banks will turn to Equitable. In order to ensure the availability […]
One of the most recent and frightening developments on the Canadian real estate scene is the destruction of Home Capital. Home Capital is referred to as an alternative lender, it lends money to house buyers who otherwise do not qualify for a residential mortgage from traditional lenders. In other words, these are high-risk mortgages. Home […]