In the year 2016, the reverse mortgage sales went up by 26 per cent as reported by HomeEquity Bank, with a total of $459 million in the same year. The numbers indicated a sharp increase in the company’s mortgage broker business which spiked up over the year by 48 percent, with an initiation of its Mortgage Service in September of 2015 which followed after.
CEO and head of HomeEquity Bank, Steven Ranson said; “We are very proud of the growth we’ve attained in 2016. At a time of remarkable appreciation in real estate values, we are privileged to help Canadian seniors access that equity. We look forward to continuing our track record of year over year growth for 2017.”
In terms of their ties and partnership with the brokers, the firm has strengthened their referral partner relations and connections they have with top major chartered banks.