Home Capital Group Inc 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

Bullboard Posts

Comment by hiermileson May 04, 2017 6:26am

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Post# 26201644

RE:RE:RE:RE:RE:DBRS downgrade

Kherson wrote:
Darnitall wrote: You are correct. This is a complete witch hunt. What I don't understand is why people on this board seem to be so happy about it. Sure, management screwed up; however, that's not the case. At the end of the day, the underlying assets are ok.

I would bet that most, if not all of the bad mortgages in question:

1) Have either paid out completetly or
2) Have gone down in thier over all risk (remember - these deals we're written 3 years ago against lower property values & as such thier Loan to Values have only improved).

What the paid pumpers are ignoring is that it will be costing Home more to borrow money to relend than what they get back from the mortgage holder! Borrowing money at say 10% and lending it back out at 5% does not make a financially viable business!
The sooner Home enters CCAA protection, the better and quicker the Market can rediscover the correct price for what now is the greatest Ponzi scheme of all time, the Canadian Housing Market!
It's over and Elvis has left the building...
Kherson