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Home Capital Group eying stronger relationships with broker partners

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Home Capital Group eying stronger relationships with broker partners

Toronto-basedHome Capital Group Inc.launched its broker loyalty program called Spire to all of its broker partners onApril 1, according to President Martin Reid.

"It rewardsbrokers for bringing us the right kind of business. Deals that match our risk appetite,high quality deals that we're very comfortable with," Reid said May 5 duringa conference call to discuss first-quarter results, according to a transcript.

Reid also talkedabout Loft, the company's broker portal, which he said makes the company "easierto deal with."

"For example,brokers can get time-stamped documents, real-time updates on the status of dealsand the attributes of those deals. And we've completed a pilot with one brokeragehouse and started to roll out to another. And we'll continue to roll out Loft andshould have it substantially rolled out by the end of the summer to all of our brokerpartners," he added.

The presidentsaid that Home Capital spent "a good part" of 2015 and 2016 rebuildingits originations pipeline, changing processes, improving technology and trying torebuild existing relationships and add in new relationships.

In February,the company said it wasalmost halfway done with its reviewof mortgages originated by suspendedbrokers.

Home Capitalon May 4 reported netincome of C$64.2 million, or 92 Canadian cents per share, for the first quarter,compared to C$72.3 million,or C$1.03 per share, for the year-ago period.