Tangerine 3.65% offer, June 6 to August 31, 2025 | Tangerine Bank | Discussion forum

lucky u, mine is 3.5%...

COIN: Nobody CDIC-insured lost a penny or access to their money after the sale of Home Trust. I don't know what went on with PACE, though there seems to have been a good deal of conflict.

PACE CU wasn't bought out. It is still around and being liquidated.

As of January, KPMG hasn't determined the recovery rate yet:

January 15, 2025 update: the liquidation proceedings of PACE are ongoing. At this time, the Liquidator is continuing to work through claims received as part of the claims process approved by the Court. Certain of these claims may require litigation and/or other legal steps. Until there is a resolution or determination of all claims, the Liquidator cannot accurately determine recoveries that may be available for holders of investment and profit shares of PACE.

Home Trust was not sold. It recovered from its near-death experience.

After PACE and HOME, please tell me MERIDIAN is safe. 4.8% is good only if one gets paid.

Are here any rumours on the street about Meridian? I think the street was talking about PACE before it actually blew up.

RetirEd said
Norman1: Home Trust is owned by Home Capital, which in turn is owned by Smith Financial since they bought it a couple of years ago. We discussed this on CHISA when it happened, no?

Home Trust is a high-risk/high-profit mortgage lender. It suffered a scandal and purge when many of its broker partners were accused of document fraud in issuing mortgages and loans. Warren Buffet's intervention saved it at that time but Smith came in afterward.
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Smith Financial made their bid for the Home Capital group years after Home Trust had recovered. It wasn't a rescue.

Home Trust had repaid Berkshire's line of credit and Berkshire sold the shares from its rescue long before the bid.

Home Trust had internal and external issues. Internally, some of its most productive loan underwriters were phantom ticking. Those employees were ticking the income verified boxes on the loan applications without actually doing the veifications!

I suspect some of the mortgage brokers realized that when questionable applications they submitted actually got approved by Home Trust. Instead of blowing the whistle to Home Trust management, the brokers exploited the compromise.