Home Capital says unnamed party to buy $1.5 bln in mortgages: Reuters

Home Capital Group Inc said a third party intends to buy up to $1.5 billion in mortgages, Reuters reported. The third party has indicated its non-binding intention to buy as much as $1 billion in uninsured mortgages and to buy, or accept, commitments for up to $500 million in insured mortgages, the company said. Earlier this month, Reuters reported several Canadian and U.S. private equity firms were considering bids to acquire Home Capital, a Toronto-based alternative mortgage lender. They included Apollo Global Management, Blackstone Group, Brookfield Asset Management and Fairfax Financial Holdings.

DealsCanadaNorth AmericaBriefs