The announcement comes as the mortgage lending firm finds itself confronting declining stock value and earnings as well as scrutiny from Ontario’s securities regulator
Martin Reid will take over from the long-time head of the alternative mortgage lender at the firm’s annual general meeting on May 11
The total value of outstanding loans generated by the suspended brokers was $1.72 billion as of Sept. 30.
Investigation reveals issues with income verification
Greg Parker will be responsible for providing strategic direction for Home’s overall approach to risk management
Bank charter would help grow and diversify deposit base, CEO says
Account offered through advisors and dealers
Climbing consumer debt levels raising concerns
Analysts are quite enthusiastic about the prospects for two of Canada’s alternative mortgage providers
Strong financial performance, robust capital levels prompt upgrade