HomeEquity Bank launches Mortgage Broker Direct
TORONTO, Sept. 14, 2015 - HomeEquity Bank launches its new “Mortgage Broker Direct (MBD)” program this week. For the first time, mortgage brokers will be able to submit deals directly to the bank via D+H Expert upon being certified. Last year, HomeEquity Bank’s broker business saw a growth of 39%, with over 1,000 mortgage brokers sending in referrals with an average deal size of $150,000. The Mortgage Broker Direct program through HomeEquity Bank will offer a no-fee certification process to a limited number of mortg
Continue Reading...
HomeEquity Bank 2015 Retirement Study
In a first-of-its-kind study HomeEquity Bank has asked Canadians about their hopes and plans for retirement.The goal is to compare Canadians’ financial expectations for retirement with their financial reality once they finish working. Download the complete report View the full infographics: [gallery link="file" ids="661,660,659"]
Continue Reading...
HomeEquity Bank Reports Record Annual Originations
TORONTO, Jan. 13, 2015 /CNW/ - HomeEquity Bank announced today its 2014 originations grew by 23% YOY and reached $309MM. As of Dec. 31, 2014, the HomeEquity Bank portfolio of reverse mortgages has surpassed $1.7 billion. The strong YOY growth can be attributed to an increase in direct inquiries from consumers as well as continued growth through referral partners including banks and mortgage brokers. "With the current demographic trends and extended life expectancy we project reverse mortgage originations to grow at 25
Continue Reading...HomeEquity Bank Helps Seniors Create Tax Efficient Cash Flow
TORONTO, Feb. 10, 2014 - HomeEquity Bank, announced the launch of its newest and most innovative product offering for senior homeowners, HomeEquity Bank Income Advantage. With the Income Advantage, senior homeowners can access equity in their home through 2 separate accounts. The first account is set up for monthly advances and carries a low interest rate of Prime + 1.25%; the second account is set up for lump sum advances and carries a competitive 5 year rate. "This product was developed based on customer feedback and cu
Continue Reading...HOMEQ Corporation Closes Arrangement with Birch Hill Equity Partners
Toronto, November 30, 2012 - HOMEQ Corporation (“HOMEQ”) (TSX: HEQ) announced today the closing of the previously announced arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) involving HOMEQ and Monaco Acquisition Inc., an entity controlled by Birch Hill Equity Partners (“Birch Hill”). Under the Arrangement, Birch Hill has indirectly acquired all of the outstanding common shares of HOMEQ for cash at a price of $9.50 per common share. It is expected that the HOMEQ shares will be delis
Continue Reading...
HomeEquity Bank Continues Steady Growth with Strong Q1 Results
TORONTO, April 27, 2017 /CNW/ - HomeEquity Bank, provider of the CHIP Reverse Mortgage™, continued its steady performance in Q1 of fiscal 2017. The company posted a 27 per cent year over year increase in mortgage originations. The strong Q1 results demonstrate ongoing growth in demand for reverse mortgages among Canadian seniors. In 2016, HomeEquity posted record growth of 26 per cent. With strong, steady ownership by Birch Hill Equity Partners, HomeEquity Bank has continued to grow its business while working with cl
Continue Reading...
Lori Sone-Cooper, VP of HR for HomeEquity Bank named to Human Resources Director Canada Magazine’s Hot List 2017
Lori Sone-Cooper, VP of HR for HomeEquity Bank named to Human Resources Director Canada Magazine's Hot List 2017 featuring 30 of the most outstanding HR professionals in the country. This year’s report features the people who continue to add value to the HR profession and increase its standing in the business world. Some of the professionals on this list have appeared on previous Hot Lists and proved their continued growth; while HRD also welcomes new contenders who have launched innovative initiatives and tackled tough
Continue Reading... HOMEEQUITY BANK POSTS RECORD 26 PER CENT GROWTH IN 2016
TORONTO, January 25, 2017 - HomeEquity Bank, providers of the CHIP Reverse Mortgage™, reported $459MM in reverse mortgage sales for 2016. This represents a 26 per cent increase over the year previous, demonstrating a growing demand by Canadian seniors to unlock the value of the equity in their homes. These strong 2016 results reflect a significant increase in HomeEquity Bank’s mortgage broker business, which has grown 48 per cent year over year following the successful introduction of the bank’s Mortgage Broker Dire
Continue Reading...
Canadian Seniors Want To Spend Less During The Holidays
TORONTO, December 21, 2016, - The holidays may not necessarily be a merry time of year for all Canadian seniors according to a recent survey of attendees at the Toronto ZoomerShow, ZoomerMedia’s lifestyle expo for people aged 45 plus. The survey, sponsored by HomeEquity Bank, providers of the CHIP Reverse Mortgage™, found that many seniors overspend during the holiday season. In fact, 26% of respondents described the holidays as financially “very stressful”. A total of 632 Toronto ZoomerShow attendees were surveye
Continue Reading...
The Price of Independence – A Winter Checklist for Senior Home Owners
Most seniors have a strong desire to remain independent – and live in their own homes. That said, the onset of winter can present a number of challenges to peace of mind. In addition to the high cost of heating a house, there are a number of seasonal maintenance issues that need to be addressed – and paid for. Whether it’s a conversation and encouragement from adult children or a case of careful budgeting, here are some of the services – and attached costs:
Continue Reading...