Search results for : mortgage
RBC FINCO's non-performing mortgages up 16.9M
March 07, 2017
RBC FINCO's non-performing mortgages up 16.9M
RBC FINCO shed light on the country's mortgage crisis yesterday, revealing in its annual report a $16.9 million increase in non-performing mortgages for the fiscal year that ended October 31, 2016.
Director of RBC FINCO Franchon Braynen outlined the challenges in the country's mortgage business.
"Our mortgage lending business in The Bahamas continues to be challenged by deteriorating economic cond...
February 15, 2017
408 enrolled to date in revamped mortgage relief program
The Christie administration's revamped mortgage relief program has enrolled 408 out of 1,744 eligible borrowers as of January 2017, as the country's mortgage delinquencies sit above $600 million.
Minister of State for Finance Michael Halkitis revealed yesterday in Parliament that 1,744 borrowers were deemed eligible for the program. And of the 1,400 that were contacted, only 408 borrowers, 23 perc...
February 15, 2017
Halkitis: Homeowners bill is not a 'panacea to the mortgage crisis'
Minister of State for Finance Michael Halkitis yesterday tabled the amended Homeowners Protection Bill, 2017 in an effort to foster homeowner protection, but admitted that the bill is not a one-stop solution to the Bahamian mortgage crisis.
During his contribution to the debate yesterday in the House of Assembly, the minister said the government does not view the bill as a "panacea to the mortgage...
January 30, 2017
Butler-Turner hits out at Christie victory speech and mortgage relief
OFFICIAL Opposition Leader Loretta Butler-Turner has said the government's revamped mortgage relief programme has no real benefit to the expansion of the economy, as she castigated Prime Minister Perry Christie for an "empty" and "delusional" victory speech.
January 25, 2017
Turnquest: PM's claim on mortgage relief is laughable
FREE National Movement Deputy Leader Peter Turnquest said yesterday that it is "laughable" that Prime Minister Perry Christie is bragging about assisting hundreds of homeowners through the government's mortgage relief plan when thousands of Bahamians are still losing their homes.
PM: Mortgage relief for 350
January 24, 2017
PM: Mortgage relief for 350
THE government's revamped mortgage relief programme has assisted 350 Bahamian homeowners since it was reintroduced, Prime Minister Perry Christie revealed yesterday...
Bahamas Mortgage Corp. has 42 delinquency rate
January 15, 2017
Bahamas Mortgage Corp. has 42 delinquency rate
Over the past six years, the Bahamas Mortgage Corporation's (BMC) arrears have increased three to five percent, and statistics provided to Guardian Business reveal that the government-owned entity to date has a 42 percent delinquency rate.
Information given to Guardian Business by a confidential source states that BMC's private loan portfolio has seen a significant increase, and now represents 45 ...
Assault claim at Mortgage Corp
December 22, 2016
Assault claim at Mortgage Corp
A MAN will stand trial next month concerning an altercation that allegedly occurred at a government agency last week.
RBC lauds govt's revamped mortgage relief program
November 22, 2016
RBC lauds govt's revamped mortgage relief program
Officials at Royal Bank of Canada (RBC) Bahamas lauded the impact of the government's revamped mortgage relief program (MRP) on some clients.
November 21, 2016
Halkitis: Revamped mortgage relief plan expected to build momentum
Minister of State for Finance Michael Halkitis revealed details on the number of eligible borrowers for the Christie administration's revamped mortgage relief plan (MRP).
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