Earnings
January 23, 2020 - RCI.B
New! Rogers Communications Inc. 2019 Earnings & Price Target Update .....
January 22, 2020 - REI.UN
New! RioCan REIT- Q3-2019 Earnings & Price Target Update .....
January 21, 2020 - GH
Gamehost Inc. - Q3-2019 Earnings, Price Target Update .....
January 17, 2020 - FCD.UN
Firm Capital Property Trust: Q3-2019 Earnings, Price Target Update .....
January 17, 2020 - CNR
Canadian National Railway Co. Q3-2019 Earnings, Price Target .....
January 15, 2020 - IAG
iA Financial Corporation Inc. Q3-2019 Earnings, Price Target .....
January 14, 2020 - IVQ.U
Invesque Inc. Q3-2019 Earnings, Price Target Update .....
January 12, 2020 - CHP.UN
Choice Properties REIT - Q3-2019 Earnings, Price Target Update .....
Recommendation Changes
IVQ.U, BPY.UN, SLF, CHW, NA, more...

First National Financial Corporation - Q3-2019 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). Revenues are earned from origination and administration of loans secured by real estate. 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.

Income is generated from the $32B portfolio of mortgages pledged under securitization, a $78B servicing portfolio, and fees from renewals across the total portfolio of mortgages. Approximately 78% of mortgages are for single family residences and 22% for multi-family and commercial mortgages. 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
January 24, 2020
New! Coverage Universe - Weekly Price Change: Jan 17-24, 2020
January 17, 2020
Coverage Universe - Weekly Price Change: Jan 10-17, 2020
January 10, 2020
Coverage Universe - Weekly Price Change: Jan 3-Jan 10, 2020
January 4, 2020
Coverage Universe - Weekly Price Change: Dec 27, 2019 - Jan 3, 2020
December 28, 2019
Coverage Universe - Weekly Price Change: Dec 20-27, 2019
December 20, 2019
Coverage Universe - Weekly Price Change: Dec 13-20, 2019
December 13, 2019
Coverage Universe - Weekly Price Change: Dec 6-13, 2019
December 6, 2019
Coverage Universe - Weekly Price Change: Nov 29-Dec 6, 2019