HomeEquity Bank Reports Record Annual Originations
TORONTO, Jan. 13, 2015 /CNW/ - HomeEquity Bank announced today its 2014 originations grew by 23% YOY and reached $309MM. As of Dec. 31, 2014, the HomeEquity Bank portfolio of reverse mortgages has surpassed $1.7 billion. The strong YOY growth can be attributed to an increase in direct inquiries from consumers as well as continued growth through referral partners including banks and mortgage brokers. "With the current demographic trends and extended life expectancy we project reverse mortgage originations to grow at 25
Continue Reading...HomeEquity Bank Helps Seniors Create Tax Efficient Cash Flow
TORONTO, Feb. 10, 2014 - HomeEquity Bank, announced the launch of its newest and most innovative product offering for senior homeowners, HomeEquity Bank Income Advantage. With the Income Advantage, senior homeowners can access equity in their home through 2 separate accounts. The first account is set up for monthly advances and carries a low interest rate of Prime + 1.25%; the second account is set up for lump sum advances and carries a competitive 5 year rate. "This product was developed based on customer feedback and cu
Continue Reading...HOMEQ Corporation Closes Arrangement with Birch Hill Equity Partners
Toronto, November 30, 2012 - HOMEQ Corporation (“HOMEQ”) (TSX: HEQ) announced today the closing of the previously announced arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) involving HOMEQ and Monaco Acquisition Inc., an entity controlled by Birch Hill Equity Partners (“Birch Hill”). Under the Arrangement, Birch Hill has indirectly acquired all of the outstanding common shares of HOMEQ for cash at a price of $9.50 per common share. It is expected that the HOMEQ shares will be delis
Continue Reading...HomeEquity Bank named one of best workplaces in Canada
Toronto, ON – April 19th, 2012 - HomeEquity Bank, a subsidiary of HOMEQ Corporation, announced today that it is being recognized as one of this year’s Best Workplaces in Canada. The list of leading Canadian employers will appear in a special national report on Thursday April 19th, 2012. “We are very excited about being recognized as one of the Canadian leaders in employee satisfaction and organizational culture,” said Steven Ranson, President and CEO, HomeEquity Bank. “At HomeEquity Bank, we believe our people a
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HomeEquity Bank Moves to New ‘Resi-Mercial’ Home to Support Business Growth and Enhanced Employee Experience
New, modern workspace in Royal Bank Plaza boasts resi-mercial design to enhance hybrid and collaborative work TORONTO, August 1, 2023 – To support current and future business growth, HomeEquity Bank, provider of the CHIP Reverse Mortgage, has relocated its head office to the Royal Bank Plaza South Tower, a LEED-certified building with state-of-the-art facilities, located in the heart of Toronto’s Financial District from mid-town. The new, modern, design offers a variety of flexible workspaces for traditional, standi
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Canadian retirement plans face life support without adequate home care
Survey: Canadians fear becoming a burden to families, but firmly want to stay in their homes Demand set to skyrocket for already stretched PSW services due to growth in ageing population HomeEquity Bank recognizes five Home Care Heroes to mark PSW Day 2023 TORONTO, May 15, 2023 – With PSW Day set for May 19, HomeEquity Bank, provider of the CHIP Reverse Mortgage, is sounding the alarm on the urgent need for more Personal Support Workers (PSWs) and in-home healthcare professionals to support Canada’s ageing
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HomeEquity Bank CFO Atul Chandra wins 2023 Report on Business Best Executive Award
Annual awards program from The Globe and Mail celebrates excellence among non-CEO leaders TORONTO, Apr. 19, 2023 - HomeEquity Bank, provider of the CHIP Reverse Mortgage, is delighted to announce that Executive Vice President & Chief Financial Officer (CFO), Atul Chandra, has been recognized as a recipient of the 2023 Report on Business magazine Best Executive Awards in the Finance category. This win for Chandra comes on the heels of the bank’s accolades in 2022, including being named by Waterstone Human Capital as
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Nominations now open for HomeEquity Bank’s annual Home Care Heroes Awards
Honouring Personal Support Workers’ Vital Impact on Canadians TORONTO, April 3, 2023 - HomeEquity Bank, provider of the CHIP Reverse Mortgage, today announced that nominations for the second annual Home Care Heroes Awards are officially open. The awards acknowledge the vital work that hundreds of thousands of Personal Support Workers (PSWs) and in-home healthcare professionals provide for Canadians who want to age in-place, something that HomeEquity Bank believes all Canadians should have the right to do. Building on t
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HomeEquity Bank total reverse mortgage portfolio exceeds $6 billion in 2022
Reverse mortgage originations surpass $1B for the second time TORONTO, Jan. 18, 2023 - HomeEquity Bank, provider of the CHIP Reverse Mortgage, reported more than $1 billion in reverse mortgage originations for 2022, making it the second year the bank has surpassed the billion-dollar mark. This milestone represents a 30 per cent increase over 2021. The value of the bank's total reverse mortgage portfolio under management now stands at $6.28 billon, further entrenching it as Canada's undisputed market leader. In 2022, the ban
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