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Stockchase Opinions

Michael Simpson, CFAHomeQ Corp.HEQ.TOBUYNov 20, 2008

(Market Call Minute.) Have a monopoly on reverse mortgages.
$3.51

Stock price when the opinion was issued

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Reverse mortgages. Very well run. Have a banking license now. Decent dividend.
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The only reverse mortgage market player in Canada. Have more than enough cash coming in to cover distributions. Very healthy dividend yield of about 16%.
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Pretty much the only originator in reverse mortgages in Canada. 12.6% yield.
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Largest originator of reverse mortgages in Canada. Sold off significantly because of concerns about their ability to source capital. Major risk would be if a bank and initiates their own business, but he can't see this happening.
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(Market Call Minute.) Reverse mortgages. Has grown their business very well. The market just doesn't understand it.
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Reverse mortgages. One of the quiet, stable businesses that generates predictable cash flow. Doesn’t have a huge growth profile.