Mortgage lender cuts workforce by 10%

by Steve Randall03 Oct 2017
Home Capital has reduced its workforce by around 10% as part of its cost-cutting drive.

The non-bank mortgage lender said Monday that it has “substantially completed” Project Expo, the expenses saving program that it launched earlier this year with the aim of saving an annualized $15 million.

The job losses impact 65 full-time positions in the lender’s operational, sales and underwriting division.

“We have taken important steps to ensure we achieve a more efficient cost structure, and we are now firmly focused on crafting and executing a strategy for Home Capital that will drive our growth as one of Canada’s leading alternative mortgage providers,” said Yousry Bissada, President and Chief Executive Officer. 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?