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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!

Saturday, October 22, 2016

Home Capital forecasts impact from new mortgage rules

One of Canada’s largest mortgage lenders says that the new federal government mortgage rules will have a significant impact on one area of its lending.

Home Capital says that the rules will make it harder to profitably originate and fund low-ratio government-backed insured mortgages such as those offered under its rental property focused “Accelerator” program.

"Like all mortgage lenders, we are still assessing the full impact of the changes on borrower behaviour and the competitive landscape," said Martin Reid, President and Chief Executive Officer of Home Capital.

The lender estimates that its Accelerator originations could fall by as much as 60 per cent due to the rule changes, although it is not expecting a significant impact to its profits as the program is already a low margin product.

"As the effects become more clear, we will explore new business opportunities created by this shift. We believe that Home Capital's solid fundamentals, strong balance sheet and nimble, entrepreneurial strategy leave us well positioned to take advantage of any opportunities that result."

MBN

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