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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!

Friday, April 28, 2017

Home Capital recovers some lost value, Genworth comments

Stocks in Canadian mortgage lender Home Capital recovered some of their lost value Thursday following a 64 per cent slump on the Toronto Stock Exchange in the previous session.

The firm confirmed that it has received a $2 billion line of credit for its Home trust division from a major institutional investor, revealed as the Healthcare of Ontario Pension Plan; and that it intends an initial draw of $1 billion.

The loan comes with a high cost; a non-refundable $100 million commitment fee and 10 per cent interest on any outstanding balance plus 2.5 per cent for undrawn funds.

The line of credit is secured against a portfolio of Home Trust residential mortgages.

Mortgage insurer Genworth Canada has made a statement on the development, detailing its exposure to Home Trust’s mortgage book.

It says that Home Capital originated mortgages make up approximately 1 per cent of Genworth Canada’s overall business and that those loans have a delinquency rate lower than the overall 0.21 per cent rate across the loans insured by Genworth Canada.

MBN

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