Bank of Montreal and the Royal Bank of Canada renewed a $500 million committed standby secured funding facility for Home Trust Company, a subsidiary of Home Capital Group.
Home Capital does not intend to draw on the credit facility in the ordinary course of business as its current liquidity profile provides sufficient liquidity and funding for its business activities. Any draws on the credit facility will be secured against a portfolio of mortgages originated by Home Trust Company.
Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services.
