lender earnings Archives - Mortgage Rates & Mortgage Broker News in Canada

Jason Ellis - President and CEO of First National

First National sees potential gains from recent mortgage rule changes

November 2, 2024 No Comments

In its Q3 earnings report, First National also noted that competitive pressures have led to a year-over-year drop in origination volumes.

First National sees Q2 drop in single-family originations, but mortgage portfolio expands

August 12, 2024 1 Comment

Despite a drop in single-family mortgage originations, First National’s commercial lending and overall mortgage portfolio showed robust growth in Q2.

EQB sees impaired loans double in Q2, but expects improvement ahead

June 3, 2024 No Comments

Alternative mortgage lender EQB saw a rise in gross impaired loans in the second quarter compared to a year ago, but highlighted recent improvements and expects losses to stabilize going forward.

First National saw Q1 residential mortgage originations fall 20% as competition in the broker channel intensified

May 28, 2024 No Comments

Canada’s largest non-bank lender continued to see a slowdown in its residential mortgage originations in the first quarter, which were down 20% from last year.

First National saw revenue rise 29% in 2023 despite drop in residential mortgage volumes

March 7, 2024 No Comments

First National wrapped up a “successful” 2023 in spite challenging economic conditions and a drop in residential mortgage originations.

Equitable Bank says majority of its mortgage borrowers have already renewed at higher rates

December 8, 2023 1 Comment

Alternative lender Equitable Bank revealed today that a majority of its residential mortgage clients have already renewed at higher interest rates and have largely absorbed the increases.

RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026

December 2, 2023 No Comments

Despite interest rates having been elevated for over a year, Canada’s largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years.

First National’s Q3 earnings “exceed expectations” on strong mortgage originations

November 1, 2023 No Comments

Against a challenging economic backdrop, First National managed to outperform in the third quarter thanks in part to continued strong mortgage originations.

First National comments on underwriting partnership with BMO, says move is an “endorsement of the channel”

August 24, 2023 No Comments

BMO’s decision to work with First National as its underwriting partner for its return to the broker channel served as an endorsement of both FN’s services and the channel as a whole.

EQB borrowers remain resilient despite renewal rate shock

August 22, 2023 No Comments

Despite the shock of sharpy higher rates as their mortgages renew, EQB reports that its clients are continuing to prove resilient.

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