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Addition of CMHC insured mortgage should add growth to Home Capital

Posted on May 16, 2008

Home Capital Group Inc. decision to jump into the high-ratio loan-to-value mortgage market should spur growth at the company, says GMP Securities analyst Stephen Boland. Although the margin on product could be lower this will be offset by overall higher growth at Home Capital Group, he said in a note to clients. In adding residential mortgages that qualify for CMHC insurance. Mr. Boland said Home Capital also addresses a shortage of industry capacity. As well, the insured mortgages are attractive because they come with low credit risk and are complementary to Home Capital's existing product...

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