HomEquity Bank's parent company, HOMEQ Corporation, has announced it has entered into an Arrangement Agreement under which Birch Hill Equity Partners will indirectly acquire all of the outstanding Common Shares of HOMEQ.
Welcome To HomEquity Bank
HomEquity Bank, a Schedule I Canadian Bank, is the only national provider of reverse mortgages to Canadian seniors. HomEquity Bank originates and administers its reverse mortgage solutions under the CHIP Home Income Plan brand.
HomEquity Bank’s predecessor, Canadian Home Income Plan Corporation (CHIP), founded in 1986, pioneered the reverse mortgage concept in Canada and has been in the business for more than 20 years. Canadian Home Income Plan Corporation recently changed its name to HomEquity Bank after it received its bank charter on October 13, 2009.
HomEquity Bank also issues Guaranteed Investment Certificates to Canadian Investors through a network of Canadian deposit brokers.
News
April 19, 2012
HomEquity Bank named one of best workplaces in Canada
April 19th, 2012 HomEquity 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.
August 10, 2011
HomEquity Bank Survey Reveals Majority of Canadians Intend to Stay in Their Home After Retirement
HomEquity Bank, provider of CHIP Home Income Plan, Canada's leading reverse mortgage solution, today announced the findings of a national Ipsos Reid survey regarding Canadian's sentiments towards retirement and their financial stability. The survey, polling 1,054 Canadians aged 45 to 60, concluded that 61 per cent of retired Canadians intend to stay in their current home as long as possible after retirement. The figure was substantially higher (78%) for respondents that were already retired.
June 16, 2011
HomEquity Bank Enters Into New Distribution Agreement
HomEquity Bank, a subsidiary of HOMEQ Corporation, announced today that it has entered into a distribution agreement for its flagship financial solution, CHIP Home Income Plan, with Qualified Financial Services (QFS), a Managing General Agency. QFS agents will now be able to offer the CHIP solution to their clients aged 55 and older, while CHIP will benefit from QFS's considerable distribution reach and outstanding market expertise.
June 8, 2011
HomEquity Bank Extends Reverse Mortgage Lending
HomEquity Bank, a subsidiary of HOMEQ Corporation, announced today that its flagship financial solution, CHIP Home Income Plan, has now been made available to Canadian homeowners as young as 55.
January 11, 2011
HomEquity Bank Reports Record Annual Originations
HOMEQ Corporation ("HOMEQ") today announced that in 2010 its subsidiary, HomEquity Bank, originated a record volume of reverse mortgages of $206 million. On an annual basis this is an increase of 87% over 2009 and an increase of 58% over the previous record of $130 million set in 2008.
November 26, 2010
HOMEQ Corporation Celebrates 25th Year Serving Canadian Seniors
HOMEQ Corporation (HOMEQ), Canada's leading provider of reverse mortgages through its wholly owned subsidiary HomEquity Bank, is proud to celebrate its 25th year of providing Canadian seniors with an alternative financial solution for retirement.
January 6, 2010
HomEquity Bank Reports Record Q4 Originations
HOMEQ Corporation (“HOMEQ”) today announced that its subsidiary, HomEquity Bank, reported record originations of reverse mortgages of $43 million in the fourth quarter of 2009. This represents an increase of 77% over the same period last year and an increase of 11% over the previous record set in the second quarter of 2008. As at December 31, 2009 the reverse mortgage portfolio of $865 million was $52 million or 6% higher than as at December 31, 2008.