Ontario Teachers’ announces agreement to acquire HomeEquity Bank
TORONTO, [Wednesday, September 22, 2021] /CNW/ - Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) announced today that it has entered into an agreement to acquire HomeQ Corporation (“HomeQ”), the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. (“Birch Hill”) and the other minority shareholders of HomeQ. The completion of the acquisition is subject to receipt of required regulatory approvals, which the parties expect to occur in the first half of 2022. HomeEq
Continue Reading...
HomeEquity Bank’s reverse mortgage portfolio surpasses $5 billion in valuation
TORONTO, June 17, 2021 /CNW/ – HomeEquity Bank, provider of the CHIP Reverse Mortgage, announced today that its portfolio of reverse mortgages under administration has recently surpassed $5 billion for the first time, further cementing the bank as Canada’s undisputed market leader. “This milestone is a testament to the tireless work our entire organization and our partners do every day. Since our founding, the goal has always been to help Canadian homeowners enjoy retirement on their terms through lending solutions
Continue Reading...
Nearly 80% of Canadians 55+ say registered savings and pension plans leave them short-changed for retirement
HomeEquity Bank-commissioned Ipsos survey finds 45% of Canadians 55+ believe accessing the equity in their homes should be part of retirement planning. 28% of Canadians 55+ would consider using their home’s equity to help fund retirement. New national advertising campaign drives home the message that older Canadians don’t want to downsize, despite 76% of them saying their demographic sometimes feels pressured to sell. May 17, 2021 (TORONTO, ON) – A large majority of Canadians 55 and up say government-run r
Continue Reading...
Six-in-10 Canadians 55+ Can’t Fully Cover the Costs of In-Home Care
HomeEquity Bank-commissioned Ipsos survey finds 88% of Canadians 55+ can’t fully pay for in-home care for their aging parents. Almost half of Canadians 55+ are now considering in-home care because of the pandemic. New book Home Run: The Reverse Mortgage Advantage outlines the product’s many benefits as study finds 75% of Canadians 55+ are concerned about their financial well-being. March 10, 2021 (TORONTO, ON) — Over 20% of Canadians 55 and up are considering tapping into their home’s equity to pay for
Continue Reading...HomeEquity Bank Completes 2020 Reverse Mortgage Loan Sale Program, with $100 Million Sold to Concentra Bank
Program highlights HomeEquity Bank's ability to find attractive liquidity sources to support growth TORONTO, Nov. 12, 2020 /CNW/ - HomeEquity Bank today announced that it has sold about $100 million of reverse mortgages to Concentra Bank. This is only the second time that HomeEquity Bank has completed its annual program for sale of reverse mortgages to another financial institution, highlighting the company's consistent leadership in Canada's reverse mortgage sector. "The success of this program speaks to ou
Continue Reading...