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10 个月前
BRIEF-Street Capital provides business update in response to new department of finance mortgage insurance rules
2016年10月6日 / 下午1点32分 / 10 个月前

BRIEF-Street Capital provides business update in response to new department of finance mortgage insurance rules

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Oct 6 (Reuters) - Street Capital Group Inc :

* Street Capital provides business update in response to new department of finance mortgage insurance rules

* Reviewing impact of rule changes with respect to its current and future business plans

* View is that these changes will be most impactful for those lending institutions that solely rely on availability of mortgage insurance

* Expects that in near-term there may be a negative impact on new prime mortgage originations generally in market

* Street capital is in final stages of its application to minister of finance to obtain a schedule i bank licence

* Does not expect most recent changes to mortgage insurance rules to negatively impact progress toward becoming schedule i bank Source text for Eikon: Further company coverage:

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