Cracks appear in Toronto’s housing market as alternative mortgage lender Home Capital drops
- Last Updated:
- Apr 30th, 2017 11:31 am
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- SCORE+1
- andrew4321 [OP]
- Deal Addict
- Sep 19, 2009
- 2280 posts
- 991 upvotes
- Toronto
39 replies
- Sanyo
- 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
- fogetmylogin
- 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.
- WinterSleep
- Deal Addict
- Jan 26, 2016
- 2240 posts
- 2272 upvotes
- Toronto, ON
I hope so. That way I can pick up a few more properties and rent them out.fogetmylogin wrote: ↑ Unless the media starts a narrative that the market is crashing which can be a self-fulfilling prophesy.
- UrbanPoet
- Deal Expert
- Jan 27, 2004
- 52937 posts
- 18145 upvotes
- ONTARIO
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.WinterSleep wrote: ↑ I hope so. That way I can pick up a few more properties and rent them out.
What do I do?
- nx6288
- 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?
goes something like ...need 20k? 30k? how about 200k?
- Sanyo
- Deal Guru
- Feb 9, 2009
- 12381 posts
- 11307 upvotes
- daivey
- 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.
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.
- andrew4321 [OP]
- Deal Addict
- Sep 19, 2009
- 2280 posts
- 991 upvotes
- Toronto
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.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 thing is that last week, another "alternative" lender crashed on TSX, Equitable Group Inc.
- Sanyo
- Deal Guru
- Feb 9, 2009
- 12381 posts
- 11307 upvotes
It was doing ok just going down cause of the HCG news...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.
- andrew4321 [OP]
- Deal Addict
- Sep 19, 2009
- 2280 posts
- 991 upvotes
- Toronto
- daivey
- 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
YOU MIGHT HAVE TO TURN ON CAPTIONS
- joepipe
- 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.....
- Sanyo
- Deal Guru
- Feb 9, 2009
- 12381 posts
- 11307 upvotes
- andrew4321 [OP]
- Deal Addict
- Sep 19, 2009
- 2280 posts
- 991 upvotes
- Toronto
"BNN: How will it end?: 3 possible outcomes for Home Capital Group" http://www.bnn.ca/three-ways-the-home-c ... s-1.732499
- ... 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.
- 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.
- 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.
- daivey
- Penalty Box
- Dec 27, 2013
- 8003 posts
- 4050 upvotes
- Toronto
- callwriter
- 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
Perhaps some bad business there but represents only a small tiny portion of their book.
Probably a good time to buy their stock
- joepipe
- Deal Addict
- Jul 3, 2007
- 4153 posts
- 4626 upvotes
- Toronto
The top of Canadian RE is in.....Hometrust goes under and the RE Ponzi is done .... market will collapse as bank declined borrowers have nowhere to turn....believe me , they are
a huge reason this market had legs in the first place....
http://business.financialpost.com/news/ ... ts-decline
https://finance.yahoo.com/quote/hcg.to?ltr=1
a huge reason this market had legs in the first place....
http://business.financialpost.com/news/ ... ts-decline
https://finance.yahoo.com/quote/hcg.to?ltr=1
- napoleonbot
- 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
of course these small street lending should bankrupt everyday for their high risky behaviour
<signature removed>
- crocp8
- 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.
keep praying bud.
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