About Us
HOMEQ Corporation, a Canadian public company, is the continuation of Home Equity Income Trust after its conversion to a corporate structure on June 30, 2009.
HOMEQ Corporation’s shares are eligible for investment by registered plans, such as RRSPs, RRIFs, and RESPs.
HOMEQ earns a return from a portfolio of reverse mortgages originated by its wholly owned subsidiary HomEquity Bank. As of June 30, 2009, the portfolio generating cash returns comprised approximately 7,000 reverse mortgages with an accrued value of $833 million, secured by residential properties across Canada worth approximately $2.3 billion.
HomEquity Bank is the only national provider of reverse mortgages to Canadian seniors and it offers Guaranteed Investment Certificates to Canadian investors.
HomEquity Bank originates and administers Canada's largest portfolio of reverse mortgages under the CHIP Home Income Plan brand. HomEquity Bank's predecessor, Canadian Home Income Plan Corporation, has been the main underwriter of reverse mortgages in Canada since pioneering the concept in 1986.
The CHIP Home Income Plan is a solution to the financial needs of Canadians seniors (60 years +). It is a type of residential mortgage that permits qualifying homeowners to convert a portion of their home equity into cash on a tax-free basis while remaining in the home.
HomEquity Bank also provides competitive Guaranteed Investment Certificates (GICs) to investors across Canada. These GICs are available through a network of independent deposit brokers.
HOMEQ’s shares trade on the Toronto Stock Exchange under the symbol HEQ.