GREY:CXSNF - Post by User
Post by
TheRock07on Nov 08, 2013 1:05pm
276 Views
Post# 21889219
Q3 will be very strong
Q3 will be very strongRecall that Q2 revenue was $46.5 million well above the $32 million for Q2 of 2012.
One of the main factors driving this increase was the fact that
Street Capital Financial Corp., received approvals from the Canada Mortgage and Housing Corp. to be an approved issuer of National Housing Act mortgage-backed securities and an approved seller under the Canada mortgage bond program.
This was an important milestone for Street as these approvals enabled the business to access an additional source of liquidity for the mortgages it originates and renews, and to be an approved seller into the CMB program..
This was announced on May 27 /13 so Street had only a month to boost its revenues from this issuer approval.
For Q3, it was in full effect for the full quarter...