Home Capital Loan Originations Drop, Investigation Continues


Home Capital Group Inc., Canada’s largest alternative-mortgage provider, said originations fell in the third quarter and an investigation into loans with faulty income information will continue through most of next year.

Uninsured single-family residential originations, or traditional originations, fell to C$1.51 billion ($1.15 billion) in the third quarter, down almost 15 percent from a year earlier, and insured single-family originations slid 20 percent to C$416.3 million, the Toronto-based firm said in a statement Wednesday.

“Home Capital has taken several steps to improve origination volumes through the remainder of 2015, including sales measures to strengthen the company’s pipeline for residential mortgage originations,” the firm said, adding that it’s also expanding its commercial-lending products…

Home Capital Loan Originations Drop, Investigation Continues

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