The lender’s originations, portfolios, and incomes all registered robustness
Home Capital Group Inc. has reported a considerable spike in mortgage originations during the 12 months ending June 30.
The lender saw its mortgage originations grow by 42% year over year during the second quarter, reaching a total of $2.13 billion. Single-family mortgage originations amounted to $1.84 billion versus $1.33 billion in Q1 2021 and $1.13 billion in Q2 2020.
As of the end of the second quarter, Home Capital’s total loan portfolio was at $17.16 billion, just 0.3% lower than the level during Q2 2020. Loans under administration totalled $22.82 billion, ticking down by 0.3% annually.
Read more: Home Capital reports Q1 results
The lender posted net income of $72.8 million ($1.42 per share) during the second quarter, an increase of 14.5% from $1.24/share in Q1 and 118.5% from $0.65/share in Q2 2020. Adjusted net income was at $73.9 million ($1.44/share), growing by 14.3% from $1.26/share in Q1 and 105.7% from $0.70/share in Q2 2020.
“I’m very pleased with the accomplishments of the team at Home Capital this quarter,” said Yousry Bissada, the lender’s president and chief executive officer. “We are creating value for shareholders with growth in originations, the expansion of our whole loan sale program, and the conclusion of another successful cross-border RMBS offering.”
