top of page
< Back
Category:

Educational Materials/Courses

Save this article  > 

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

Author: 
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.



Keywords: 

Home Capital, delinquencies, non-prime borrowers, mortgage rates, stress test, renewals, arrears, retention, Q3 earnings report, net income, total originations, loans under administration, net interest margin, net non-performing loans, slowing mortgage originations, long-term health of housing market, liquidity, capital resources, loan applications, net interest margin, underwriting guidelines.



Source Citation: 
Steve Huebl
Home Capital Sees A Drop In Volumes, But No Issues Yet With Renewals At Higher Rates
November 9, 2022
https://www.canadianmortgagetrends.com/2022/11/home-capital-sees-a-drop-in-volumes-but-no-issues-with-renewals-at-higher-rates/
Did you find this article useful? 
Your feedback is important not only to us, but to all the other key players in the condo industry.  Help us by letting us know if this article is relevant and useful.  This will help us prioritize articles that provide helpful guidance to other key players like you. 

Please login to use this feature.

bottom of page