Tag Archives: Home

Home Capital Group Inc is used to critics saying it’s vulnerable to a housing pop

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TORONTO – For the growing number of short sellers betting against Canada\’s uncomfortably hot housing industry, Home Capital Group Inc.’s massive stock sell off this week was as gratifying as it gets. The stock dived 19 per cent Monday and short positions shot up after the company revealed that new mortgages were much lower than expected within the second quarter, ...

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Home Capital Group shares sink after analyst downgrades

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Home Capital Group Inc.’s shares dropped 19 per cent Monday morning, following the company reported that new single-family residential mortgages fell a lot more than expected in the second quarter. The holding company, which operates through mortgage provider Home Trust Co., was also downgraded by several analysts Monday on the disappointing figures. “We\’ve reduced our EPS estimates to reflect a ...

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Home Capital no ‘canary in the coal mine’: Scotia

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Scotia Capital upgraded Home Capital Group Inc. towards the equivalent of a buy rating carrying out a steep 25 % drop a week ago. Home Capital Group’s stock saw a bounce Monday following the upgrade, trading up 2.13 per cent, or 68 cents, to $32.54 by noon. Regardless of the bounce, short curiosity about the stock remains strong, with nearly ...

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Veteran director resigns from Home Capital ahead of key earnings call

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Home Capital Group Inc. announced Monday night that senior corporate lawyer?James Baillie is resigning from its board of directors in front of a closely watched earnings refer to this as week. Baillie, an old chairman of the Ontario Securities Commission, joined the board in February 2012. He also serves as?senior counsel at law practice Torys LLP. Home Capital, which is ...

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Home Capital says it cut ties with 45 mortgage brokers after discovering borrower income was falsified

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Home Capital Group Inc. said its recent decision to suspend its relationship with dozens of brokers happened after an external source tipped the organization off that brokers were falsifying borrower incomes. Home Capital, certainly one of Canada\’s largest alternative mortgage lenders, said approximately 45 individual third-party brokers are no longer dealing with the company following an interior investigation. Sixty percent ...

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Home Capital Group Inc and the shortseller social network

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When Home Capital Group Inc. disclosed on July 10 it\’s terminating its relationship with a number of third-party lenders, a short-selling campaign exposed on the credit company. However the campaign’s epicentre wasn\’t lunch meetings and broker offices. It had been Twitter. For weeks, without much additional detail from the company, speculation ran wild on social media about what was behind ...

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Home Capital shares surge after company provides additional details about mortgage fraud allegations

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Home Capital Group Inc. gave investors some long-awaited details Thursday into a study that saw a large number of brokers terminated for falsifying borrower incomes in mortgage applications. In what ended up being a more than hour long call, management faced a number of questions over the 45 brokers which were cut loose following a study that began this past ...

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Home Capital Group Inc stock sinks ahead of key earnings call, surprise director resignation

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Analysts are buzzing about what is set to be one of the most closely followed investor calls this year. Home Capital,?certainly one of Canada’s largest alternative lenders, will release earnings on Wednesday and host a conference call with analysts and investors Thursday.?The stock sunk more than six percent on Tuesday as the market is pricing in bad news. The company ...

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