News
January 6, 2010
HomEquity Bank Reports Record Q4 Originations
Toronto, ON - 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.
November 9, 2009
HomEquity Bank dramatically lowers rates on CHIP Home Income Plans
Toronto, ON - HomEquity Bank (Banque HomEquity), Canada’s newest chartered bank, today announced that it is has significantly reduced its variable rate on CHIP Home Income Plans to 3.75%*, signalling a transformative change in the acceptance of reverse mortgages as a viable tool within the financial solutions landscape.
October 13, 2009
Canada's Leading National Reverse Mortgage Provider Becomes a Chartered Bank
Toronto, ON - HOMEQ Corporation (TSX: HEQ) (HOMEQ) today announced that its operating subsidiary, Canadian Home Income Plan Corporation, has received its Letters Patent and Order to Commence as a federally regulated Schedule I bank from the Minister of Finance, effective immediately.
February 2, 2009
More than Half of Canadian Seniors are Worried about their Financial Future
Toronto, ON - Compared to this time last year, a majority (53 per cent) of Canadian seniors feel less secure about their financial future, according to a recent Angus Reid Strategies study commissioned by Canadian Home Income Plan (CHIP).
September 25, 2008
Canadian Home Income Plan Partners with Leading Mortgage Brokerage Firm
Toronto,ON - Canadian Home Income Plan Corporation (CHIP) today announced that it has reached a partnership agreement with Dominion Lending Centres (Dominion), a leading Canadian-based mortgage brokerage firm, which will provide Dominion customers, aged 60 and over, with the opportunity to choose a home equity lending solution to meet their diverse retirement needs.
June, 2008
Canadian Home Income Plan Inks Deal with Largest Mortgage Broker in Quebec
Toronto,ON - Canadian Home Income Plan Corporation (CHIP) today announced that it has signed an agreement with Multi-Prêts, Quebec’s leading mortgage broker, which will extend CHIP’s home equity lending solution to Multi-Prêts senior customers over 60 years of age.
April 8, 2008
New Best Rate Planned Advance Option provides homeowners 60 and older even greater flexibility
Canadian Home Income Plan Corporation (CHIP) today announced the availability of a Best Rate Planned Advance Option that affords homeowners aged 60 and older the ability to turn $1,000 of
their home equity into tax-free cash on a monthly basis.