Seemingly every year, it's like Groundhog Day in Canada's mortgage industry. New mortgage finance companies (MFCs) pop up like furry marmots, each one hoping to burrow into the insured mortgage market.
Meanwhile, only 1 in 6 new mortgages are insured, and there are already 20+ MFCs in a battle royale for that business.
Every new entrant sings the same song, "We're high tech, we shower you with service, our underwriters are wunderkinds, we have 'competitive rates,'" yada, yada. But, if you cut back the fluff, scaling an MFC comes down to one vital factor: strong uninsured funding...
...which brings us to Highclere Capital, a new MFC that'll debut in April.
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
