Last Updated on October 24, 2023 by Steve Randall
Continued interest by Canadian seniors in reverse mortgages has helped boost originations at HomeEquity Bank.
The company says it originated $767 million reverse mortgages in 2018, up 26% from the previous year with its mortgage broker and bank referral business showing significant growth.
“We are extremely proud of our results achieved in 2018, with our fifth consecutive year of 20 per cent plus year over year growth,” shared Steven Ranson, HomeEquity Bank President and Chief Executive Officer.
The firm also rebranded to focus on helping Canadians in retirement, demonstrated by its ad campaign which gives a humorous treatment to the issues Canadians face in retirement.
“Canadians are living longer and more fulfilled lives in retirement and they consistently share with us their desire to age in place,” added Ranson. “We are privileged to help Canadians access their home equity through our product offerings and help them retire in the home they love. We look forward to continuing our growth in 2019 and beyond.”
New product launch
HomeEquity Bank also launched a new product in 2018 – CHIP Max – which gives extra access to home equity for select clients.
As well as reverse mortgages the company provides home equity loans and GICs.
“We are extremely proud of our results achieved in 2018, with our fifth consecutive year of 20% plus year over year growth,” shared Steven Ranson, HomeEquity Bank President and Chief Executive Officer. “Canadians are living longer and more fulfilled lives in retirement and they consistently share with us their desire to age in place. We are privileged to help Canadians access their home equity through our product offerings and help them retire in the home they love. We look forward to continuing our growth in 2019 and beyond.”
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
