Home Capital Group Inc HMCBF

Primary Symbol: T.HCG

Home Capital Group Inc. is a Canada-based holding company that operates through its principal subsidiary, Home Trust Company (Home Trust). Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust and its wholly owned subsidiary, Home Bank offer deposits through brokers and financial planners, and through a direct-to-consumer brand, Oaken Financial. Its mortgage lending includes classic single-family residential lending, insured residential lending, residential commercial lending, and non-residential commercial lending. Its consumer lending loan portfolio comprises credit cards, lines of credit and other consumer retail loans. In addition, the Company manages a treasury portfolio to support liquidity requirements and invest excess capital.

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Home Capital Group Inc

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Comment by icecubeon Aug 29, 2016 8:18pm

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Post# 25189123

RE:RE:RE:RE:Vancouver Housing Bubble Bursts Spectacularly

baranja wrote:
https://www.cbc.ca/news/business/cmhc-mortgages-q2-1.3739665

Thanks for the link.

So, although CMHC reported that there was a spike in delinquent mortgage loans in Alberta and Saskatchewan, overall there were 8,386 delinquent loans for all of Canada: Down almost 1,000 from a year earlier.

Oh, and this is out of 2.6 million loans, a delinquency rate of 0.32 percent.

"Our net income is stable, insured volumes are up and the overall arrears rate remains low," CMHC chief financial officer Brian Naish said in a statement.

The second-quarter financial statements also revealed that:

CMHC had $338 million in net income in the quarter. Homebuyers with CMHC-insured mortgages have an an average credit score of 750, which is considered very good.

Still long and an article like this is only comforting to my position. Would have liked to see more of a pullback to buy more but I should just thank the short crowd for the opportunity they gave us.