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Home Capital Profit Falls as Mortgage Originations Decline 6%

By Tony Seruga

Home Capital Group Inc., Canada’s largest alternative mortgage provider, reported profit that missed analyst estimates as mortgage originations fell in the fourth quarter.

Net income at the Toronto-based company fell 27 percent to C$70.2 million ($55.6 million) in the quarter ended Dec. 31, compared with C$95.9 million a year earlier. Profit excluding some items of C$1.02 a share missed the C$1.05 a share estimate of nine analysts surveyed by Bloomberg and compares with C$1.02 a year ago…

Home Capital Profit Falls as Mortgage Originations Decline 6%

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