Home Trust Company: Best Mortgage Solutions Canada 2016

Offering mortgage and other credit products to clients under-served by larger financial services providers has allowed Home Trust Company of Canada to carve out – and claim as its own – a profitable niche in the marketplace. Traditional lenders rely on auto-adjudication to review client applications but this approach often fails to address the needs of the self-employed or people with a bruised credit history.

Home Trust Company has a more personalised approach that takes the time to understand the client and their needs. Together with products tailored to accommodate this target market, Home Trust can help these clients finance their homes, consolidate higher-interest loans, or renovate existing dwellings. The company also helps borrowers who have significant equity in their homes but may lack provable income or a stellar credit history.

Providing a comprehensive range of alternative credit products and catering to the needs of these under-served clients, has enabled Home Trust Company – a wholly-owned subsidiary of Home Capital Group (TSX:HCG) – to build up a high-performing and solid portfolio of clients with both insured and uninsured mortgages. While residential mortgage lending constitutes the core of Home Trust Company’s business, financing is also offered for office blocks, hotels, and commercial and industrial premises.

Home Trust Company has deployed advanced IT systems to improve access to information and speed up processing of applications. The company welcomed the regulatory tightening of the mortgage market, arguing that the added stability benefits the entire market. In 2013, the company launched Oaken Financial to make its deposit products more readily available to a retail audience through a dedicated web-based platform. Last year, Home Trust Company acquired the Oakville, Ontario-based CFF Bank (Canada First Financial Bank), extending its geographic footprint and gaining new customers in Manitoba, Saskatchewan, Alberta, and British Columbia.

The CFI.co judging panel notes that while catering to clients not served by traditional lenders, Home Trust Company does not cut corners and maintains rigorous standards throughout the organisation for issuing credit. The judges commend the company on fuelling its organic growth via innovative, yet prudent, policies and strategies. Home Trust Company is declared winner of the 2016 Best Mortgage Solutions Canada Award.