Earnings
August 2, 2020 - T
New! Telus Corporation - Q2-2020 Earnings, Price Target Update .....
July 31, 2020 - REI.UN
RioCan REIT- Q2-2020 Earnings & Price Target Update .....
July 30, 2020 - ENB
Enbridge Inc. Q2-2020 Earnings & Price Target Update .....
July 29, 2020 - FN
First National Financial Corporation - Q2-2020 Earnings, Price Target Updat .....
July 26, 2020 - SJR.B
Shaw Communications Inc. Q3-2020 Earnings. Price Target Update .....
July 24, 2020 - SU
Suncor Energy Inc. Q2-2020 Earnings, Price Target Update .....
July 23, 2020 - RCI.B
Rogers Communications Inc. Q2-2020 Earnings & Price Target Update .....
July 22, 2020 - CNR
Canadian National Railway Co. Q2-2020 Earnings, Price Target Update .....
Recommendation Changes
SU, NWC, CPX, H, QBR.B, more...

First National Financial Corporation - Q2-2020 Earnings, Price Target Update

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

First National Financial Corp.(FN, FN.PR.A,B) 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 $154B as at Jun-30-2020, ($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 portfolio of mortgages pledged under securitization, admin fees from servicing the 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
July 31, 2020
New! Coverage Universe - Weekly Price Change: July 24-31, 2020
July 24, 2020
Coverage Universe - Weekly Price Change: July 17-24, 2020
July 17, 2020
Coverage Universe - Weekly Price Change: July 10-17, 2020
July 10, 2020
Coverage Universe - Weekly Price Change: July 3-10, 2020
July 7, 2020
Cineplex Inc(CGX) - 5.75% Convertible Debenture New Issue
July 4, 2020
Coverage Universe - Weekly Price Change: June 26 - July 3, 2020
June 29, 2020
Premium Brands Holdings Corp. 4.2% Convertible Debenture New Issue
June 29, 2020
StorageVault Canada Inc. 5.75 Unsecured Debenture New Issue