Real Estate

Cracks appear in Toronto’s housing market as alternative mortgage lender Home Capital drops

  • Last Updated:
  • Apr 30th, 2017 11:31 am
39 replies
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
Yawn ... already two years old everyone has accepted the fraud of those brokers who were fired
Deal Addict
Nov 13, 2013
4527 posts
3688 upvotes
Ottawa
Unless the media starts a narrative that the market is crashing which can be a self-fulfilling prophesy.
Deal Addict
Jan 26, 2016
2240 posts
2272 upvotes
Toronto, ON
fogetmylogin wrote: Unless the media starts a narrative that the market is crashing which can be a self-fulfilling prophesy.
I hope so. That way I can pick up a few more properties and rent them out.
Deal Addict
Jul 29, 2006
4253 posts
1078 upvotes
is this the one with the tv/radio ads?

goes something like ...need 20k? 30k? how about 200k?
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
UrbanPoet wrote: Sweet. I can finally move out of my parents basement. I'm 60 years old and still live with my mom. I don't know how to do laundry or cook... so she does it for me.
What do I do?
rent in peace :P
Penalty Box
Dec 27, 2013
8003 posts
4050 upvotes
Toronto
LOL cracks appear?

lol

lol

lollll

maybe they will compare this to the fraud perpetrated by Country wide financial and Bank of America??? lol Home CApital is going to collapse the Toronto real estate market with their 3 billion dollar book of business...????? LOL REALYyyyyyyyyyyyyyyy

home capital is a joke.. their mortgage portfolio is a joke.

When RBC or Scotiabank comes out and tells you 5% of their mortgage book is fraud... Then you shit your pants.

When Home Capital tells you that 100% of their book is bullshit.../fraud.. No one cares cause the book is nothing in the first place.
Deal Addict
Sep 19, 2009
2280 posts
991 upvotes
Toronto
daivey wrote: LOL cracks appear?

lol

lol

lollll

maybe they will compare this to the fraud perpetrated by Country wide financial and Bank of America??? lol Home CApital is going to collapse the Toronto real estate market with their 3 billion dollar book of business...????? LOL REALYyyyyyyyyyyyyyyy

home capital is a joke.. their mortgage portfolio is a joke.

When RBC or Scotiabank comes out and tells you 5% of their mortgage book is fraud... Then you shit your pants.

When Home Capital tells you that 100% of their book is bullshit.../fraud.. No one cares cause the book is nothing in the first place.
The entire Canadian mortgage market is $1.4T with 25% of the market held by "alternative" lenders. HCG with $20B represents less than 2%, not big but not small either.

The thing is that last week, another "alternative" lender crashed on TSX, Equitable Group Inc.
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
andrew4321 wrote: The entire Canadian mortgage market is $1.4T with 25% of the market held by "alternative" lenders. HCG with $20B represents less than 2%, not big but not small either.

The thing is that last week, another "alternative" lender crashed on TSX, Equitable Group Inc.
It was doing ok just going down cause of the HCG news...
Deal Addict
Sep 19, 2009
2280 posts
991 upvotes
Toronto
Sanyo wrote: It was doing ok just going down cause of the HCG news...
yes, it is called contagion effect.
Penalty Box
Dec 27, 2013
8003 posts
4050 upvotes
Toronto
I just made this on captioncreator.com and then I moved it over to youtube with some ninja skills
YOU MIGHT HAVE TO TURN ON CAPTIONS

Deal Addict
Jul 3, 2007
4153 posts
4626 upvotes
Toronto
actually...hometrust going under would be a very big deal, you would be surprised how many homes and condos in the market are financed by them.....
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
joepipe wrote: actually...hometrust going under would be a very big deal, you would be surprised how many homes and condos in the market are financed by them.....
yep... free money yipeeeee

anyhoo im guessing the CDN gov't would bail out HCG some way somehow if HCG is truly going down.
Deal Addict
Sep 19, 2009
2280 posts
991 upvotes
Toronto
Sanyo wrote: yep... free money yipeeeee

anyhoo im guessing the CDN gov't would bail out HCG some way somehow if HCG is truly going down.
"BNN: How will it end?: 3 possible outcomes for Home Capital Group" http://www.bnn.ca/three-ways-the-home-c ... s-1.732499


  1. ... the most likely scenario is the company “works through” allegations from the Ontario Securities Commission that it intentionally misled investors about an internal fraud probe in 2015. Home Capital may see funding costs rise, Boland said, which would make it more difficult for the mortgage business to grow.
  2. The second, less likely, scenario in Boland’s view is for regulators to determine Home Capital is no longer viable and forces either a full or partial sale of the business.
  3. The third and, according to Boland, least likely worst-case scenario is Home Capital ends up with no liquidity and no one willing to buy the business, in which case GMP expects regulators to supervise a run-off of the company’s books over three years.
Penalty Box
Dec 27, 2013
8003 posts
4050 upvotes
Toronto
joepipe wrote: actually...hometrust going under would be a very big deal, you would be surprised how many homes and condos in the market are financed by them.....

Lol and even if it does a major bank will scoop up their portfolio.

Lol
Newbie
Apr 11, 2017
52 posts
49 upvotes
Total fud.

Perhaps some bad business there but represents only a small tiny portion of their book.

Probably a good time to buy their stock
Deal Addict
Sep 30, 2011
2419 posts
971 upvotes
Nah, your eye ball will probably crash sooner than the RE market.

of course these small street lending should bankrupt everyday for their high risky behaviour
<signature removed>
Banned
Feb 13, 2017
951 posts
1283 upvotes
oh look....the resident RFD millionaire is still posting far-fetched articles on a crash...

keep praying bud.

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