Home Capital Garners Some Bay Street Support in Its Survival Fight
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Brokers resume business ties with new company directors
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Mortgage lender still seeks financing to swap pension credit
The black sheep of Canada’s mortgage industry is starting to see support from the flock.
Even as Home Capital Group Inc. issues warnings about the company’s ability to stay in business, a growing number of financial firms, brokers and money managers are backing the company. It now remains to be seen if the support will be enough for the mortgage lender to survive without a backstop from the country’s biggest banks.
“Home Capital does have a very loyal following,” said Gary Mauris, president of Dominion Lending Centres, Canada’s largest mortgage brokerage and the biggest provider of clients for Home Capital. “Most people in the industry want to continue to support Home, as long as they don’t see it as a liability and potential exposure.”…
Home Capital Garners Some Bay Street Support in Its Survival Fight
