Earnings
August 17, 2019 - FTS
New! Fortis Inc Q2-2019 Earnings, Price Target Update .....
August 16, 2019 - SPB
New! Superior Plus Corp. Q2-2019 Earnings & Price Target Update .....
August 15, 2019 - IPL
New! Inter Pipeline Ltd - Q2-2019 Earnings - Price Target Update .....
August 14, 2019 - BRE
Bridgemarq Real Estate Services Inc. Q2-2019 Earnings, Price Target Update .....
August 9, 2019 - EIF
Exchange Income Corp Q2-2019 Earnings, Price Target Update .....
August 8, 2019 - GEI
Gibson Energy Inc. Q2-2019 Earnings, Price Target Update .....
August 8, 2019 - DR
Medical Facilities Corp. Q2-2019 Earnings, Price Target Update .....
August 7, 2019 - KEY
Keyera Corp. Q2-2019 Earnings, Price Target Update .....
Recommendation Changes
BRE, EIF, GEI, PKI, AD, more...

First National Financial Corporation - Q2-2019 Earnings, Price Target Update

This is only a sample of the article, please login to view the entire article

First National Financial Corp.(FN) is a Canadian-based originator, underwriter and servicer of predominantly prime single family residential and multi-unit residential and commercial mortgages with total mortgages under direct ownership and administration of $110B as of Jun-30-2018 ($106B- Dec-31-2018, $102B as of Dec-31-2017). Profits are driven by growth in the portfolio of mortgages under administration; growth in the origination of mortgages; raising capital at the lowest possible cost; and innovative securitization transactions to minimize funding costs. Mortgages are comprised of a $30B portfolio of mortgages pledged under securitization and $80B servicing portfolio that also generates fees when renewed.

Approximately 78% of mortgages are for single family residences and 22% for multi-family and commercial mortgages. Revenues are earned from origination and administration of loans secured by real estate. They are a leading Canadian non-bank mortgage lender. First National is Canada's largest non-bank originator and underwriter of mortgages and is among the top three in market share in the mortgage broker distribution channel.

For mortgage origination, Q1 and Q4 are seasonally the weakest, mid-year quarters are strongest. Their MERLIN underwriting system is Canada's only web-based, real-time broker information system. By creating a paperless, 24/7 commitment management platform for mortgage brokers, First National is now ranked among the top three lenders by market share in the broker channel.

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
August 17, 2019
New! Coverage Universe - Weekly Price Change Aug 9 - Aug 16, 2019
August 9, 2019
Coverage Universe - Weekly Price Change Aug 2 - Aug 9, 2019
August 3, 2019
Coverage Universe - Weekly Price Change July 26 - Aug 2, 2019
July 26, 2019
Coverage Universe - Weekly Price Change July 19-26, 2019
July 22, 2019
Firm Capital Amercian Reallty Partners Corp- 6.25% Convertible Debenture New Issue
July 19, 2019
Coverage Universe - Weekly Price Change July 12-19, 2019
July 12, 2019
Coverage Universe - Weekly Price Change July 5-12, 2019
July 6, 2019
Coverage Universe - Weekly Price June 28-July 5, 2019