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 > Yousry Bissada on BNN 4:10pm

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Comment by WBuffett1on Aug 06, 2020 9:09am

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Post# 31371703

RE:Yousry Bissada on BNN 4:10pm

As Yousry said in the call, the provisions were a result of harsher assumptions on several macro factors for their forward looking model. They continue to see low deliquency and write offs in their existing portfolio.

They said one of the macro assumptions in their model was drop in home prices....which is not the case so far so they are being really conservative

canader wrote:
-Home Capital Group posted double-digit profit growth for the second quarter as its mortgage originations climbed 17 per cent from a year earlier. Have to point out, however, that provisions for credit losses were up 207 per cent. We'll dig into the results and the outlook for the mortgage market with CEO Yousry Bissada at 4:10 p.m. ET.

https://www.bnnbloomberg.ca/the-daily-chase-toronto-housing-comes-roaring-back-earnings-bonanza-1.1476287