The lender updated its liquidity and deposits position which shows $1.09 billion including an undrawn $350 million from its credit line, slightly up from the last two days of last week.
It said that it was managing its new business originations and renewals in line with this liquidity and stated that it is “focused on protecting its traditional single-family residential mortgage business and valued customer and broker relationships.”
The lender’s management expects new home mortgage originations to continue to fall until at least the end of 2017 with renewals slipping back to historic levels.
The level of $10-11 billion per year is down from $12.6 billion as at March 31, 2017.
More market update:
The value of non-securitized residential mortgages held by Home Capital is predicted to fall to around $10-11 billion per year the lender said Tuesday.