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 named one of best workplaces in Canada
Toronto, ON – April 19th, 2012 - HomeEquity Bank, a subsidiary of HOMEQ Corporation, announced today that it is being recognized as one of this year’s Best Workplaces in Canada. The list of leading Canadian employers will appear in a special national report on Thursday April 19th, 2012. “We are very excited about being recognized as one of the Canadian leaders in employee satisfaction and organizational culture,” said Steven Ranson, President and CEO, HomeEquity Bank. “At HomeEquity Bank, we believe our people a
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Ontario Teachers’ announces agreement to acquire HomeEquity Bank
TORONTO, [Wednesday, September 22, 2021] /CNW/ - Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) announced today that it has entered into an agreement to acquire HomeQ Corporation (“HomeQ”), the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. (“Birch Hill”) and the other minority shareholders of HomeQ. The completion of the acquisition is subject to receipt of required regulatory approvals, which the parties expect to occur in the first half of 2022. HomeEq
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HomeEquity Bank’s reverse mortgage portfolio surpasses $5 billion in valuation
TORONTO, June 17, 2021 /CNW/ – HomeEquity Bank, provider of the CHIP Reverse Mortgage, announced today that its portfolio of reverse mortgages under administration has recently surpassed $5 billion for the first time, further cementing the bank as Canada’s undisputed market leader. “This milestone is a testament to the tireless work our entire organization and our partners do every day. Since our founding, the goal has always been to help Canadian homeowners enjoy retirement on their terms through lending solutions
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Nearly 80% of Canadians 55+ say registered savings and pension plans leave them short-changed for retirement
HomeEquity Bank-commissioned Ipsos survey finds 45% of Canadians 55+ believe accessing the equity in their homes should be part of retirement planning. 28% of Canadians 55+ would consider using their home’s equity to help fund retirement. New national advertising campaign drives home the message that older Canadians don’t want to downsize, despite 76% of them saying their demographic sometimes feels pressured to sell. May 17, 2021 (TORONTO, ON) – A large majority of Canadians 55 and up say government-run r
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Six-in-10 Canadians 55+ Can’t Fully Cover the Costs of In-Home Care
HomeEquity Bank-commissioned Ipsos survey finds 88% of Canadians 55+ can’t fully pay for in-home care for their aging parents. Almost half of Canadians 55+ are now considering in-home care because of the pandemic. New book Home Run: The Reverse Mortgage Advantage outlines the product’s many benefits as study finds 75% of Canadians 55+ are concerned about their financial well-being. March 10, 2021 (TORONTO, ON) — Over 20% of Canadians 55 and up are considering tapping into their home’s equity to pay for
Continue Reading...HomeEquity Bank Completes 2020 Reverse Mortgage Loan Sale Program, with $100 Million Sold to Concentra Bank
Program highlights HomeEquity Bank's ability to find attractive liquidity sources to support growth TORONTO, Nov. 12, 2020 /CNW/ - HomeEquity Bank today announced that it has sold about $100 million of reverse mortgages to Concentra Bank. This is only the second time that HomeEquity Bank has completed its annual program for sale of reverse mortgages to another financial institution, highlighting the company's consistent leadership in Canada's reverse mortgage sector. "The success of this program speaks to ou
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