Loan-loss reserves dropping for mortgage lenders, but second-wave uncertainty looms

Improved economic forecasts are allowing Canadian mortgage lenders to reduce loan-loss reserves built up due to the coronavirus pandemic, even as a second wave of COVID-19 adds new uncertainty to the picture. The trend was on display Wednesday, when Toronto-based alternative mortgage lender Home Capital Group Inc. announced net income of $58.5 million for the third quarter, up more than 70 per cent compared to the...