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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Wednesday, October 18, 2017

Home Capital sells off payment services wing to focus more on core business

Home Capital Group Inc. says it has reached an agreement to sell its payment processing and prepaid card business as it looks to further streamline operations.

The Toronto-based alternative mortgage lender says the sale of the business will save about $20 million in annual salary and other operating costs, while giving up the $18 million in fees and other income it brought in.

Home Capital had already signalled its intention to sell the division as a non-core operation, and says the impact from the sale on its full-year net income is insignificant.

Earlier in October, the company said it had cut 65 jobs as part of a program to eliminate $15 million in annual costs that was largely complete.

The company has been looking to restore soundness after allegations by regulators that it misled investors prompted a run on deposits by customers in April.

Home Capital says it is still facing elevated expenses because of the scrutiny, and the need to borrow funds at higher rates to make it through the liquidity crunch.

MBN

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