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Old 2017-04-27, 11:40 AM
walter8299 walter8299 is offline
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Join Date: Feb 2014
Location: Newmarket
Posts: 632

Originally Posted by Tabz08 View Post
big news out with Home Capital.
very nervous times now
Home Capital (Home Trust) had bad history before (a few years ago) when they had "grey deals" to compete with other big boys or mortgage companies.

There isn't much problem with Street Capital and First National FYI, their stocks just dropped slightly due to the ripple effect. But out of all these B-lenders, Home Trust seems to be in a bit of trouble when they did lots of 5% down years ago.

Also, FN and SC are not really B-lenders (aka Alt-Lenders) as they follow the same approval process as the big banks and do a bunch of checks versus B-products offer by Equitable, Home Trust, Magenta, etc.

Some of these non-big-banks can have strict lending guideline and vigorous check of your documents etc.

Nonetheless, this could have some effect in the buyers confidence, but let's wait and see how things smooth out.

If any follow the news, when everyone is so focus on GTA, Vancouver has quietly increase in sales and prices has climb up.

With the 20-35% DP requirement nowadays, it is much safer, even those who bought with 5-10% 3-5 years ago, you should have atleast 25-35% equity on the home now if anything happens. Unlike USA IMHO.
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