(March 28 – 10:00 ET) – Home Capital Group Inc. is launching the Home Trust Co., a new federal trust targeted at the retail market.
The firm’s wholly owned subsidiary, Home Savings & Loan Corp. is becoming Home Trust. The firm will continue to focus on alternative residential mortgages, but will now expand into self-directed RRSPs for mortgages and other investments. It will also offer trust services to smaller RRSP plans.
“The evolution of Home into a federal trust does not in any way affect our core mortgage business,” said Gerald Soloway, president and CEO of Home Capital. “We will continue to be Canada’s leading alternative lender. We have no intention of deviating from that plan. Home Trust will simply allow us to provide new product portfolios and open up new business opportunities for us.”
Home Capital has three branches in Ontario and one each in Vancouver and Calgary. It now plans to open in Nova Scotia with an eye on further expansion in the Atlantic provinces.
-IE Staff