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Home Capital Sees A Drop In Volumes, But No Issues Yet With Renewals At Higher Rates

Steve Huebl
Publication date:
November 9, 2022
Article Summary: 

Home Capital, the alternative lender, has said it is "preparing for the worst" regarding delinquencies, but has yet to see any problems with payments from borrowers, despite many non-prime borrowers renewing at mortgage rates of 7% and 8%. The company's president and CEO, Yousry Bissada, said renewals were strong and that the firm had not seen a lack of performance in credit, with arrears remaining normal. Home Capital's high retention rate is due to many clients being unable to re-qualify under the stress test at today's rates if they want to switch lenders, according to the chief financial officer.


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Source Citation: 
Steve Huebl
Home Capital Sees A Drop In Volumes, But No Issues Yet With Renewals At Higher Rates
November 9, 2022
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